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Ritenour finance staff outline budget outlook: surplus carried, ESSER funds ending and new operating costs ahead
Summary
District finance staff reported a $4.3 million operating surplus last year, noted ESSER funding has been drawn down and outlined anticipated revenue and expenditure changes for next year including the first annual payment on certificates of participation and projected medical insurance increases.
District finance staff presented an initial budget planning update that outlined last year's results, the current-year outlook and major drivers that will affect next year's budget.
Key figures: The presentation reported a $4.3 million operating surplus at the end of the prior fiscal year. The district also received $11.8 million in ESSER federal funds in earlier years and an additional $4 million asset payment this fall; ESSER funding will not recur next year. Staff said absent the asset payment the district would face an operating deficit for the current year.
Revenue outlook: Local revenue is expected to be roughly flat amid increased property-tax protests and…
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