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District finance director flags payroll variance and federal grant exposure in February budget update
Summary
Finance director Bill Denasi told the board the district had collected 56.47% of revised general fund revenues year‑to‑date and that salary spending showed a 2 percentage‑point variance tied largely to retroactive pay; staff also flagged roughly $2.3 million in federal grant revenue and discussed contingency options.
Bill Denasi, the district’s director of finance and operations, briefed the board March 24 on the general fund through Feb. 28 and on potential federal‑grant risks.
Denasi said the district had collected 56.47% of its revised general fund revenue plan for the year — $126,290,000 in the revised budget — and called attention to interest and local fees that are recorded throughout the year. On expenditures, he noted the district had spent 58.07% of its salary and wages budget — a 2 percentage‑point increase compared with the prior year — and attributed much of that change to retroactive pay tied to the recently settled teacher contract.
“We went back… last year was the first year of the SEA contract, and we settled that… and it was brought to school board approval in June of 2024,” Denasi said, explaining why year‑to‑date comparisons can appear skewed. He told the board he expects the variance to normalize when retro pay accounting completes later in the spring.
Board members asked about federal grant exposure if Congress or agencies change funding availability. Denasi said federal grants for the district’s general fund run about $2.3 million in the current year and are important but do not fund the majority of special‑education costs. He described steps the finance office is taking to draw down federal funds more frequently and said the finance and facilities committee discussed whether unassigned fund balance would be an appropriate short‑term backstop if federal revenue were reduced.
Supervising staff and board members emphasized the district’s contractual obligations to continue serving students and described the unassigned fund balance as a possible one‑time mitigation if federal payments were interrupted. The board also asked how purchased special‑education services to consortium providers (Southwest Metro) are reflected; staff said those payments typically fall under purchased services in the operating budget.
Denasi closed by saying the department will monitor revenue drawdowns and retro pay timing and will return to the board with updates as needed.
Key figures reported at the meeting: revised general fund budget $126,290,000; revenue collected through Feb. 28: 56.47%; salary and wages budget: $74,404,000; year‑to‑date salary spending: 58.07%; federal grants in general fund (approximate): $2,300,000–$2,400,000.
