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Board approves preliminary 2025–26 budget and authorizes up to 30% advance expenditures
Summary
The board approved a preliminary FY2026 budget and authorized the finance department to expend up to 30% of fund budgets before final adoption, while staff said the district will use fund balance to cover projected shortfalls pending legislative outcomes.
Richfield — The Richfield Public School District board approved a preliminary 2025–26 budget and authorized the finance department to commit up to 30% of each fund’s budget before the board adopts a final budget, citing the need to place orders and commit to contracts ahead of final adoption.
A district finance presenter told the board the preliminary general-fund revenue was $88,737,872 with proposed general-fund expenditures of $92,204,692. Across all funds, staff showed projected revenues of about $114,831,000 and expenditures of about $115,784,000. The presenter said the preliminary plan included a projected unassigned general-fund balance of about 7.26% (approximately $6.7 million) and an overall projected ending fund balance of about 17.3% (about $15.9 million), representing a planned reduction of roughly $3.4 million in overall assigned fund balance.
Staff explained that the budget reflects increases in salaries and benefits, and that some revenue changes (for example, increases in special-education funding) were offset by a projected reduction in compensatory aid — a change the presenter tied to current legislative uncertainty. The superintendent noted that the district is deliberately using some fund balance to bridge uncertainty while the legislature finalizes allocations; officials said the district could reduce spending further if statewide compensatory dollars do not materialize.
The board discussed specific restricted funds including technology, English-learner programming and purchased services such as special-education transportation. Finance staff said purchased-services overages in the current year had been driven in part by special-education transportation and that auditors and an RFP were under way to examine those costs.
On the authorization motion, a director moved that the finance department be allowed to expend up to 30% of the approved fund budgets prior to final budget adoption; the motion carried on a roll-call vote with board members recorded as voting aye. Staff said they will return with a final adopted budget for approval in June after refining assumptions and incorporating any legislative changes.
