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CASTLEBERRY ISD projects budget shortfall, moves amendments after Moody's downgrades bond rating
Summary
CASTLEBERRY ISD's finance team told the school board it is projecting revenue and expenditure shifts for the 2024–25 closeout and preparing a baseline 2025–26 budget while noting a recent credit‑rating action that could raise borrowing costs.
CASTLEBERRY ISD's finance team told the school board it is projecting revenue and expenditure shifts for the 2024–25 closeout and preparing a baseline 2025–26 budget while noting a recent credit‑rating action that could raise borrowing costs.
The matter is significant because the district's fund balance and projected deficit influence its bond rating, borrowing costs and the room available for personnel and facilities spending; the board voted on an intra‑fund reallocation at the meeting and will hold a public hearing and adoption vote on June 16.
William Wooten, the district's chief financial officer, presented preliminary numbers and assumptions. Wooten said the district adopted a $45,900,000 budget but now…
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