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CFO reports preliminary FY25 close: $4.6M general fund balance; consolidated budget ~$99.3M
Summary
Chief Financial Officer Matthias Greenwood presented preliminary fiscal‑year‑end numbers showing a $4.6 million general‑fund balance and a consolidated budget of about $99.3 million with $14.7 million unspent; board members asked for details on consultant spending and plans to monitor casino revenue.
Petersburg City Public Schools Chief Financial Officer Matthias Greenwood presented a preliminary year‑end financial update to the school board on July 16, reporting a general‑fund balance of approximately $4.6 million and a consolidated fiscal‑year‑25 budget of about $99.3 million with roughly $14.7 million remaining before final encumbrance reconciliation.
Greenwood told the board the fiscal‑year‑25 revenue budget included $15.76 million in expected city transfers (including nutrition and CIP support), and that the district’s consolidated spending across general fund, food service and grants stood at approximately $84.6 million, leaving the $14.7 million balance subject to year‑end adjustments. “These figures may be refined pending final encumbrance reconciliations,” he said.
The CFO also reviewed Head Start accounts: a federal allocation of about $1.4 million and non‑federal contributions around $350,000 with roughly $31,000 remaining. He said donated services exceeded projections and that the district will review unused ChildPlus access for Head Start.
Board members asked for more granular information. Halby Miles sought the total cost of finance‑department consultant support; staff said details presented included consultants engaged across multiple years and that a calendar‑year breakdown could be produced. Greenwood and staff provided a consultant total reported in the meeting (consultant payments totaling approximately $593,793.92 across vendor engagements) and said they would reformat numbers by fiscal year on request.
Board members also asked how the district would monitor projected casino revenue the city expects to dedicate to education. Greenwood said finance is tracking the city’s revenue analytics and will monitor actual receipts so the district can plan capital and programming investments if projected casino funds materialize.
Greenwood emphasized that final numbers remain subject to year‑end close and that an updated report will be provided in the August reporting cycle. No budget adjustments were approved at the meeting.
