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Board reviews financial dashboard and debates fund‑balance target after Moody's changes
Summary
Board finance staff told the Mercer Island School District board that December spending outpaced the fiscal‑year proportion and that, absent more revenue, the district could face a projected shortfall described in the presentation as roughly $2.5 million to $3 million next year.
The Mercer Island School District board reviewed its 2024–25 financial dashboard and November and December budget status reports and discussed longer‑term fund‑balance goals after recent changes in credit‑rating practice.
District finance staff summarized December finances: expenditures were running ahead of the fiscal‑year proportion at about 33.4% while the year was roughly 23.3% complete; revenues were lower than expenditures in the month. Staff reported a year‑to‑date increase in cash on hand of about $574,000 and said special‑education out‑of‑state placements had dropped from two students to one. The district also presented a projection that, unless additional revenue materializes, there might be a shortfall next year in the range described in the presentation as roughly "2 and a half to 3 [million]" dollars.
Director Sullivan walked the board through…
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