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City Schools reports year‑to‑date surplus in general fund; cautions on timing and federal grants
Summary
Baltimore City Public Schools presented a nine‑month (through March) general‑fund update showing year‑to‑date revenue exceeding expenditures but warned that year‑end adjustments, grant timing and expected liquidation of encumbrances will affect the final audited result.
Baltimore City Public Schools’ finance team told the Council’s Budget and Appropriations Committee that nine‑month results through March 2025 show revenues exceeding expenditures for the general fund, but year‑end adjustments and grant accounting will change the final closing numbers.
The update is required by local legislation and is the LEA’s regular quarterly financial briefing; Deputy Chief Financial Officer Mary Anne Cox presented the report and identified state funding as the largest revenue source, with city and federal funds making up the balance.
“At this point in time, we have an excess of revenue over expenditures,” Cox said, noting the district has received five of six state quarterly payments and that timing differences between budget assumptions (based on January state estimates) and actual receipts create expected variances.
Cox flagged federal receipts that increased year‑to‑date totals: the district received a FEMA reimbursement of about $9.1 million and $8.3 million from the Emergency Connectivity Fund during the quarter, and she said unusually high investment earnings were partly driven by high T‑bill rates in 2024. The district also noted that federal grant liquidations can extend into the fourth quarter; City Schools has been allowed an extended liquidation period for certain COVID grants and was awaiting final confirmation of timing for some recoveries.
On expenditures the district noted roughly 75% of its budget is salaries and benefits. Cox said transportation and special‑education transportation remain a sensitive area; the district plans to manage higher contract costs identified in recent bids and to free funding internally where necessary to cover higher transportation outlays. Committee members requested more detail on grants that appear in special‑revenue accounts and on the district’s workforce pipeline and recruitment partnerships with local colleges.
City Schools did not request council action at the hearing and will appear before the committee again as part of the district’s scheduled budget‑and‑audit review process.
