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District financial report: April shows revenue on track but health‑benefit costs pushing a shortfall
Summary
District business staff told the board April revenues were about 83% realized and expenditures about 74% realized; employee benefits—especially health insurance—are tracking over budget and may require use of reserves.
District business staff presented the April financial report showing revenues at about 83% realized and expenditures at about 74% of budget year to date. The presentation compared fiscal year‑to‑date figures for April 2025 with April 2024 and noted the district expects a final large state aid payment the week of the meeting.
Miss Hooper (district staff) flagged employee benefits—particularly health insurance—as a line trending to be overspent and the primary area of concern. At the April close the district’s unencumbered balance was “just under $5,000,000,” she said, but benefit cost pressures are reducing available funds. Hooper said she is tracking benefit spending closely and is working with the district auditor to prepare options for addressing the shortfall; staff expect to present a plan to the board in a June meeting, including potential use of reserves.
Board members asked about union discussions and timing. Paulino and Hooper said they are meeting with unions and reviewing short‑ and longer‑term strategies, including assessing the current broker and plan design. Hooper said a more fulsome update should be available in a couple of weeks.
The board later voted to accept the April financials as action 4.01; the motion carried 4–0–0. The presentation was informational and did not authorize immediate budget transfers at the meeting; staff said they would return with specific recommendations for addressing health‑benefit overages.
