District finance staff presented the quarterly financial snapshot for FY2024 at the Sept. 9 board meeting and said the district ended the year with higher revenues but higher-than-budgeted expenditures that narrowed projected unspent balances.

The report matters because the district uses the unspent balance to measure fiscal health; board policy targets a 5–10% reserve and directors said the district should keep at least 5% to manage unexpected costs.

CFO Kurth said higher state foundation aid and interest income helped raise overall revenues in FY2023, but capital outlay and debt-service increases drove expenditures higher. Kurth noted capital spending rose as the district implemented its Facilities Master Plan 2 and that the district issued a revenue bond and used proceeds to refund a prior bond, increasing debt service in the audited year.

In the quarterly report, Adam (district finance staff) explained some higher expenditures were timing and reimbursement issues tied to grant-funded camera purchases and that higher special-education expenditures will be recovered through the state's modified supplemental amount process. Kurth and Superintendent Degner told the board they are monitoring enrollment and federal Title allocations, which affect future revenue projections.

Director-level discussion focused on whether projected unspent balances allow hiring additional staff. Kurth reiterated the board policy target of 5–10% and said the district needs the reserve to respond to unexpected events without making drastic midyear cuts. Degner added staffing decisions should be made case by case and recommended monitoring enrollment at the Oct. 1 count date, when district funding for the following year is fixed.

Board members asked staff to return with more detailed unspent-balance projections after October certification, and one director asked staff to model scenarios with flat or rising enrollment. Staff said they will present more detailed projections at the budget-projection workshop in October or November and that federal Title allocations remain uncertain until state and federal notices are received.

No formal board action was taken; the financial report was informational and staff will provide updated projections and monitoring information ahead of budget decisions.