DC Everest presents balanced 2025–26 budget projection; levy to remain stable via defeasance

District finance staff told the board the administration expects to present a balanced 2025–26 budget in October, with fund 10 (operating) and fund 27 (benefits) projected balanced at current estimates.
Staff said the state revenue limit adjustment was $325 per pupil and the lower revenue ceiling remained $11,000; absent changes to equalization aid, that adjustment could otherwise fall to local taxpayers. Finance staff said a combination of defeasance (pre‑paying or setting aside debt service in fund 39) and updated equalized values will allow the district to hold the total levy amount steady while reporting a lower mill rate.
The administration said legislative action increased special education categorical aid late in the process and that special education aid increased district revenue by about $900,000 compared with earlier estimates; staff cautioned that the aid level will fall in the second year of the state change and that the district must plan conservatively. The district reported year-end transfers to fund 46 of roughly $2.3 million and said savings were concentrated in wage and benefits due to vacancies and benefit selections. Areas of deficit included a capital pipe repair project at the junior high and open-enrollment shifts that together were about $300,000 in the prior year.
Finance staff said preliminary equalized values were available but not final until October 1; final equalization aid arrives October 15 and the board will adopt its final levy and budget in October. No formal budget adoption vote occurred at tonight’s meeting.