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Gadsden board approves preliminary $422 million 2025–26 budget for submission to state
Summary
The Gadsden Independent School District board voted to submit a $422 million preliminary operating budget to the New Mexico Public Education Department, preserving staffing levels while setting aside higher-than-normal cash reserves amid federal funding uncertainty.
The Gadsden Independent School District board on May 20 approved a preliminary 2025–26 operating budget totaling about $422,000,000 and authorized submission of the plan to the New Mexico Public Education Department.
The budget presentation outlined a $242 million operational budget, roughly $55.3 million in special revenue, about $70.95 million in capital projects and $37.1 million for debt service. District staff said the state equalization guarantee (SEG) in the plan is initially projected at $179,507,778, with a preliminary unit value of $6,801.35.
District finance staff told the board the proposal includes $25,250,000 in cash reserves as a precaution against possible reductions or late reimbursements in federal grants, and that an estimated $8.3 million in payroll liabilities remain open at June 30, 2025. Staffing in the proposed budget totals about 1,761 FTEs; salaries and benefits are budgeted at roughly 66.2 percent of all expenditures.
Superintendent Dempsey and Chief Financial Officer Jessica Martinez framed the plan as preliminary and subject to adjustments after final state allocations and award letters arrive. Martinez said officials will return to the board June 12 with any changes and to seek final adoption before the statutory June 20 deadline.
Board members voted to approve the preliminary budget for submission. The board will consider final adjustments and adoption at the June 12 meeting once the Public Education Department completes its compliance review.
What’s next: after the PED review, the administration will present any required changes and the board will act on a final operating budget before the statutory deadline. District staff said they will also manage midyear budget changes through standard BAR (budget adjustment request) procedures if needed.
