At its May 8, 2013 meeting, the Ann Arbor Public Schools board of education was presented with the third quarter financial report for FY 2012-13.
According to the report, the expenditure budget will be approximately $1.3 million higher than originally projected. The increase is due to a $700,000 increase to transportation costs, a $300,000 increase of the substitute budget, and an increase of $300,000 for the health care budget to cover anticipated usage through the remainder of the fiscal year.
The $1.3 million increase in expenditures comes after the trustees had already amended the budget by $2.5 million two months ago, on March 13, 2013, to account for the second quarter financial report.
At its next regular meeting, the board will be asked to take action to amend the general appropriations and approve the third quarter disbursements.
This brief was filed from the board room of the Ann Arbor District Library in downtown Ann Arbor at Fifth and William. A more detailed report of the meeting will follow.