Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
CFO outlines budget outlook: $1.2M surplus this year but large cost pressures ahead including 14.5% health-insurance increase
Summary
CFO Phil Fusiteri told the board the current-year projection shows a roughly $1.2 million surplus (largely reflecting final ESSER payment), but next year faces pressures including a 4% salary increase, a projected 14.5% health-insurance cost rise and a controlled $3.3 million spend-down plan.
Ritenour Chief Financial Officer Phil Fusiteri presented an in-depth budget update covering the current-year financial position, projections for next year and several risk factors.
Fusiteri said the district projects a $1.2 million surplus this year; he cautioned that figure includes the final $4 million ESSER payment and that excluding ESSER the district would face a larger deficit. He estimated fund balance at roughly 35% but noted future transfers from operating to capital and other adjustments could…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
