June 8, 2017 at 6:30 PM - GIPS Public Hearing to Amend FY16-17 Budget

Rationale:  It is 6:30 PM and I now call to order the Grand Island Public Schools Board of Education Public Hearing.  This is the June 8, 2017 Public Hearing on the Proposed FY16-17 Amendments.  Notice of this hearing has been advertised in the Grand Island Independent, which is the District's designated method of giving notice of these meetings.

We want those in attendance to know that copies of the Open Meetings Act are available at the entrance to the Board Room.  If anyone in attendance is interested in addressing our Board, you are welcome to do so.  We simply request that you complete the appropriate form and turn it in to us now so that you may be recognized during the Public Forum part of our hearing.  These forms are also located by the entry doors of this room.
 

Rationale:  This hearing is held for the purpose of hearing support, opposition, criticism, suggestions or observations of taxpayers relating to amending the budget which was originally adopted on the 8th day of September, 2016.  Due to unforeseen circumstances, actual expenditures for the current fiscal year will exceed budgeted expenditures unless the current fiscal year budget of expenditures is revised. This $5,000,000 budget increase in the CQPUF is due to issuing new bonds that were not anticipated at the time the original budget was adopted. The originally adopted budget of expenditures cannot be reduced during the remainder of the current fiscal year to meet the need for additional money because bond repayment schedules are fixed unless refinanced and this amendment is due to a new issue.