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Board approves preliminary FY25‑26 annual fiscal report; district reports 67% of dollars in classrooms
Summary
Osborn preliminary Annual Financial Report shows about 67 percent of every dollar spent on direct classroom instruction; the governing board approved the AFR and staff provided bond and capital override updates, including a remaining balance on the prior $50 million bond and a recent $30 million issuance from the new $100 million program.
The Osborn Elementary District governing board approved the district’s preliminary FY25‑26 Annual Financial Report after a staff presentation that highlighted classroom spending, fund balances and capital activity.
Staff reported that roughly 67 percent of district expenditures are directed to classroom instruction and supports, a figure that matched the previous year’s preliminary calculation. Administrative spending was reported at about 10.3 percent and operations (food service, maintenance and transportation) at about 22.3 percent of expenditures; staff noted final audited figures may change slightly when the state auditor’s office releases its classroom spending report in the spring.
Finance staff reviewed voter‑authorized overrides and bonds. The presentation said the FY25 maintenance and operations (M&O) override totaled just over $2.4 million, with total M&O expenditures of just over $3.1 million in the last reported year; FY26 M&O was budgeted at roughly $2.6 million. In capital, the district reported a remaining committed balance of about $340,000 in the prior $50 million bond program (funds are encumbered and await project completion). The new $100 million voter‑authorized bond program had issued $30 million as of the report; an additional $40 million issuance was expected to close later in the month.
The capital override was reported to generate about $1.5 million annually; expenditures rose from roughly $900,000 last year and staff said some years in the multi‑year plan require larger spend levels for lifecycle replacement and curriculum adoption. Staff said average teacher salary for the most recent year exceeded $60,000 and has increased substantially in recent years.
After Q&A, the board voted to approve the AFR. The motion carried with one abstention recorded in the meeting minutes; no roll‑call vote was read aloud.
