District finance director reports higher-than-budgeted enrollment and modest revenue uptick; fund balance projected above budget

The district’s April financial report, presented May 27 by Director of Finance Laura Tress, showed enrollment higher than budgeted, modest revenue gains and fund-balance projections above the adopted budget.

Tress said the district’s average annual FTE enrollment for the fiscal year is about 90 students higher than the budget estimate; enrollment drives more than 60% of state-related revenue. Updated state special-purpose revenues and a higher safety-net grant claim contributed to an approximate $600,000 upward revision to projections since March.

Projected ending general-fund balance was 8.4% of expenditures, above the adopted budget’s 7.5%. Tress said that higher beginning fund balance, stronger-than-budgeted enrollment and vacancy savings in salary lines contributed to the increase. She cautioned that projected expenditures or revenue changes could swing fund balance.

Tress reviewed four other major funds: the capital projects fund (higher balance driven by timing and remaining costs for Jackson Elementary and planned modernizations), the debt service fund (less than $70 million outstanding on bonds, scheduled payments continue), the Associated Student Body (ASB) fund (typical seasonal revenue and expenditure pattern), and the Transportation Vehicle Fund (revenues of about $379,000 expected; two district-owned buses on order anticipated in June or July).

Board members asked process questions: Tress noted the first reading of next year’s operating budget will be in July with a budget hearing and adoption in August; districts must post the budget online by July 10. Trustees also asked whether tariffs or price changes would affect the buses; Tress said the buses on order are already priced and being certified through state processes.

No board action was required; this was an informational financial update.