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SLPS projects $197 million fund balance for FY25 after planned $35 million drawdown
Summary
The district’s CFO told the board the projected unrestricted fund balance for FY24–25 is $197 million (about 45.4% of budget) after a planned $35 million draw from reserves; the presentation highlighted major cost pressures in payroll, transportation and special education.
St. Louis Public Schools’ finance chief presented the district’s third-quarter financial update and reiterated that district leaders expect a planned reduction to fund balance this fiscal year.
Chief Financial Officer Miss Johnson said the district’s projected fund balance for FY23–24 was $231 million and that the FY24–25 projected unrestricted fund balance is $197 million, or roughly 45.4% of operating budgets—well above the Missouri statutory minimum of a 3% fund balance. Johnson said the district plans to spend $35 million of fund balance in the current fiscal plan to support initiatives and operating needs.
The presentation listed drivers of the planned drawdown: increased payroll, transportation costs, managed special-education services and higher insurance costs. Johnson told the board that transportation costs were about $40 million for the current year and that the district expects transportation costs to be lower next year but is accounting for the expense in planning. She also summarized federal grant allocations (ESEA, IDEA, food and nutrition funds) and noted federal programs account for roughly 13% of general operating revenues.
Quarter-three revenue receipts were reported at $310 million year-to-date with quarter receipts of $235 million; year-to-date expenditures were $323 million (about 56.2% of total budget). Johnson said the numbers are estimates until the district’s annual audit is completed and noted that final figures could change once audit adjustments are posted.
“Through careful planning, strategic budgeting, and prudent financial management, we have positioned ourselves to meet the current needs while also investing in the future success of our students and communities,” Johnson told the board. She recommended continued monitoring of payroll, transportation, special education and insurance exposures during budget work for next year.
