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CFO presents FY25 budget update and monthly financial reports; district remains in deficit spending
Summary
Cindy Romins, the district chief financial officer, reviewed FY25 budget amendments, monthly financial reports and projections showing continued deficit spending; staff described tools and timelines for forecasting and said the district will continue monthly reporting to the Governing Council.
Cindy Romins, chief financial officer for the Special School District of St. Louis County, presented an update on the FY25 budget and the district's new monthly financial reporting package, telling the Governing Council the district remains in deficit spending but is taking actions to improve fund balance and forecasting.
Romins said the Board previously approved a set of budget amendments through Dec. 10 and that staff have produced a "riding the ship" FY25 budget that incorporates initial cost-containment measures and some position reductions. She said the district's application of those measures would move the salary budget from about $394 million to about $393 million under the riding-the-ship scenario and could improve operating fund balance from roughly 39% toward about 42% if continued measures are implemented.
The nut graf: The…
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