Friendswood ISD will be transferring an anticipated $3.45 million general fund surplus from the 2023-24 fiscal year to its capital project funds after the board of trustees approved the transfer at its Nov. 11 meeting.

The overview

The $3.45 million surplus is the result of receiving $1.59 million more in revenues than projected and underspending the expenditure budget by $2.1 million in its FY 2023-24 budget, according to district agenda documents.

The $1.59 million of surplus funds as well as the maintenance tax note’s remaining balance of $1.75 will be transferred into the capital projects fund.Also of note

According to district documents, some reasons for the district’s increased revenue include::

• The one time new instructional facilities allotment of $762,000 from the state
• Additional revenue of $388,000 from the state
• The remaining balance of $1.75 million of maintenance tax notes, which is used for construction, renovation and operating expenses, documents show.

Stay tuned

A portion of the new funds will be used to improve equipment at the district’s natatorium, Superintendent Thad Roher said at the meeting.

This will include resurfacing the pool, improving the powdered coating on the railing in the natatorium and a new scoreboard, Roher said.

Projects are anticipated to begin in January and continue into the summer, officials said.