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Superintendent outlines budget pressures: district faces CARES funding 'cliff'; proposes using reserves for staffing supports
Summary
Superintendent reported February and March financials: asset cleanup reduced assets by about $3.9 million, reserves remain around $11.2 million (about a 32% financial-condition ratio), and the administration proposed roughly $1.37 million in targeted uses of reserves for custodial support, school psychologists and social workers.
The Lake Wales Charter Schools administration presented February and March financial statements and outlined budget risks as federal pandemic-era CARES funds expire.
Interim Superintendent Doctor Johnson said asset cleanup requested by auditors reduced total assets by about $3,995,000, which reflects removal of long-retired items from the district ledger. The March statement showed net operating excess of roughly $6,035,474 year-to-date; food service reported a positive balance and federal projects spending was tracking at roughly 58% of budget. Transportation costs were tracking at about 72% ($1.8 million).
Johnson said the district faces a funding cliff as one-time CARES-era funds lapse; the administration is preparing the 2025–26 budget and proposed using reserves to bridge gaps. Proposed uses included roughly $1,000,000 for custodial support, $250,000 for Janie Howard Wilson (contractual services, school psychologists and related supports), and $120,000 to cover social-worker costs not otherwise funded — a total proposal of about $1,370,000. Johnson said the district's financial-condition ratio is well above its policy minimum: roughly $11.2 million in reserves on hand and a target requirement near $2.2 million, which Johnson said is approximately 32% of general-fund revenues.
Trustees asked clarifying questions about the asset write-down; finance staff said the adjustment primarily removed old, no-longer-usable assets from district books based on auditor recommendations. The board approved the February/March financial reports by voice vote during the regular meeting.
Administration also noted federal-project funding is expected to be flat for the coming year and that the district will receive a restricted $640,000 increase intended for teacher salary increases.
