In a recent government meeting held on October 21, trustees received a detailed update on the current state of the fund balance, highlighting significant reductions over the past few years. The presentation, led by a financial officer, outlined a five-year trend from 2020 to 2026, revealing a concerning decline in the fund balance.

Starting with a fund balance of $55 million in 2020, the organization has seen a steady decrease each year. In 2021, the fund balance dropped to $49 million after a reduction of $6.8 million. The following year, a further decrease of $10.9 million brought the total down to $38 million. By 2023, the fund balance had fallen to $29 million following an additional $9 million reduction.

As the organization approaches the end of 2024, officials estimate a deficit of approximately $4.043 million, which would reduce the fund balance to around $25 million. Looking ahead, the approved budget for 2025 anticipates a deficit of $4.9 million, potentially lowering the fund balance to $20 million. Projections for 2026 indicate a troubling forecast, with an expected deficit of $9.5 million, which could further diminish the fund balance to just $10 million if no adjustments are made to the current budget.

The trustees emphasized the importance of addressing these financial challenges to ensure the sustainability of operations moving forward.