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Board hears FY25 unaudited results and reviews FY26 final budget assumptions; True North membership under review
Summary
Finance staff reported an unaudited FY25 surplus of about $7.6 million and presented a FY26 final budget with an operating-fund deficit of about $1.7 million; trustees were also briefed on plans to leave the True North cooperative effective July 1, 2026.
District finance staff presented unaudited fiscal-year 2025 results and a proposed final fiscal-year 2026 budget, and trustees received an update on the district's membership in the True North cooperative.
Finance staff reported that overall revenues for FY25 came in about 1.2 percent above budget while expenses were about 3.8 percent below budget, producing an unaudited surplus of roughly $7.6 million (about 8.6 percent of total expenses across funds). The board previously transferred $5 million of that surplus to offset budget needs, district officials said. Administrators cited disciplined spending and timing of capital projects as reasons for the favorable…
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