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District finance reports positive midyear variance; new long-range forecast shows sustainable fund-balance path
Summary
Finance reported stronger-than-budgeted revenues and projected a smaller use of fund balance for FY25 than budgeted; a new long-range forecasting model projects a $168 million fund balance by 2029 under current assumptions and will be used to test policy choices such as compensation changes and debt scenarios.
Finance staff reviewed the December monthly financials and introduced a new long-range financial-forecasting model that incorporates historical data and scenario analysis across revenues and expenditures.
Daniel Prentiss said December revenues were tracking as anticipated and property-tax receipts in January further strengthened revenue projections. Midyear, the district expects to use less fund balance in FY25 than the $63 million budgeted — staff…
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