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Finance director outlines budget revisions; district projects $1 million fund‑balance increase
Summary
Director of Finance and Operations Mert Woodard reviewed proposed FY25 revisions and FY26 budget parameters, citing higher enrollment, additional one‑time state aids and bond proceeds; administration will return to the board with the formal budget for action next meeting.
Director of Finance and Operations Mert Woodard presented proposed revisions to the current fiscal year budget and the planning framework for fiscal year 2026.
Woodard told the board enrollment has come in above projections — roughly 8,670–8,675 ADM compared with the budgeted 8,630 — producing an estimated $540,000 in additional general education revenue. He also said the district will receive about $312,000 in school‑term unemployment aid reimbursements, and one‑time state REED Act aids and teacher compensation funding expected to total about $654,000; those are restricted to REED Act‑eligible spending.
The finance presentation noted one purpose of the 2024A general obligation bonds was to finance bus purchases; $1.5 million will be deposited to the operating capital fund for that purpose. The district also added approximately $6.6 million to the building construction fund tied to long‑term maintenance projects funded by the bond issuance; those proceeds are largely offset by debt payoffs and issuance costs connected with refunding 2014A and 2015A bonds.
On expenditures, Woodard said salary and negotiated increases and late bus deliveries required recognizing additional expenditures of roughly $2.6 million above the original budget; net of additional revenue the district expects to add about $1,000,000 to the general fund balance. The food service fund is running strong under universal free meals and will add an estimated $228,000 to its fund balance because participation increased by about 130 meals per day.
Woodard reiterated the district’s conservative forecasting and warned that although short‑term position is stable, the district faces budget reduction pressures by fiscal 2027–28. He said the proposed revisions were reviewed at recent work sessions and that administration will bring the revised budget back for board action at the next regular meeting.
Board members thanked the finance team for conservative budgeting and asked for continued community engagement via the district’s Budget and Enrollment Review Committee (BERC) process.
