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Lee's Summit R-VII finance panel flags shortfalls in fiscal-year-end revenue, previews FY26 pressures
Summary
CFO told the finance committee the district will likely finish FY25 with lower incidental and special-revenue receipts than projected, largely because some federal and county reimbursements were delayed; the presentation outlined budget pressures heading into FY26 and a year-lag on some transportation reimbursements tied to contracted services.
The Lee's Summit R-VII finance committee heard June 23 that the district will likely close fiscal 2025 with lower revenue than expected after several federal and county reimbursements were delayed.
Mister Holder, the district chief financial officer, told the committee that approximately $1.3 million in early childhood special education (Part B) reimbursement remains outstanding and that a separate shortfall of about $200,000 came from a lower-than-expected basic formula payment from the state. "We will receive that revenue. It will just be booked in a different fiscal year," Holder said.
The shortfalls left the district’s operating and special-revenue funds below the earlier projections in the FY25 budget amendment the committee reviewed. Holder said he had reduced incidental revenue projections by roughly $1.3…
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