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Finance staff: district on track for fiscal year but projected state funding drop to affect 2025-26 budget
Summary
Finance staff reported the district's general fund was tracking near expected year-to-date percentages but warned a conference report projecting a drop in state funding tied to lower FTE would reduce 2025-26 state revenues by roughly $734,509; the district plans budget adjustments and to scrub grants before fiscal year end.
Finance staff presented the district's 10-month fiscal report and a high-level summary of the state conference report on June 16, noting the general fund revenues and expenditures were roughly in line with the 83.33% point in the fiscal year but that the state funding projection in the conference report could reduce 2025-26 state funding by about $734,509.
Mr. Copeland, who presented the financial snapshot, said revenues were at 84.3% of budget and total general fund expenditures were at about 83.2% through ten months, observations he described as a "good gut check." He warned that the conference report's projected decline in full-time-equivalent students (FTE) would reduce total state funding and that adjustments to local required effort and discretionary local effort would partially mitigate the reduction.
The nut graf: The conference report projects an FTE decrease that, when applied to categorical calculations, would lower state funding for 2025-26 by roughly $734,509; the district expects to propose budget amendments in May and June, will scrub grant expenditures before close-out, and will wait for the state's fourth calculation to finalize revenue projections.
Board members asked for more detailed monthly breakout of expenditure categories and clarity on which items were booked to general fund versus federal grants. Mr. Copeland said staff will provide more granular month-over-month detail and will prioritize using grant funds where allowable to avoid overstating general fund expenditures. The board accepted the financial report by vote.
