Lana Nijans, chief financial officer for Pueblo School District 60, presented the district’s Q1 financial statements for the quarter ending Sept. 30, 2024, and told the board the district has most of its payroll committed for the year.

"When we encumber all of the the salaries and benefits, we're at 95% of our budget. So that's a concern that we will address later," Nijans said, summing up the principal budget worry she outlined in the report.

The presentation covered multiple funds, including the general fund (Fund 10), grants (Fund 22), athletics (Fund 17) and bond‑related capital funds. Nijans said grant reimbursements run in arrears and that grant expenditures were running at about 28% of budget in the first quarter. She also told the board that demolition of Roncalli Elementary is taking longer than expected and could push work and related bond spending into fiscal 2026‑27, adding roughly 15 months to the bond schedule.

Why it matters

Board members tied the district's near‑term budget concerns to pending changes at the state level. Multiple speakers cited House Bill changes under consideration in the legislature — including references in the meeting to House Bill 1488 and later citation in a draft resolution to House Bill 24‑1448 — and warned those changes could change how the district's per‑pupil funding is calculated.

Supervisor and board members argued the district may lose some of the benefit of multi‑year enrollment averaging under the new formula; Nijans and others warned about a potential “budget stabilization” or similar mechanism (sometimes discussed informally as the “BS factor”) that could effectively reduce state aid without being obvious in line‑item calculations.

Board action on funding resolution

Director Mark Thiebaud asked to add a “Resolution Concerning Full Funding of Public Education” to the agenda. After several members said they had not had time to study the full text, the board amended the motion and voted to add the resolution to the agenda as an information item immediately before the consent agenda (roll‑call vote recorded below). The board did not take a final vote on the resolution during the meeting.

Key points from the financial presentation

- Salaries and benefits encumbrances: Nijans said the district is at roughly 95% of budgeted salaries and benefits when encumbrances are included, which she described as a concern for the year.
- Grants and timing: The district’s grant fund typically lags because reimbursement occurs after costs are incurred; grant expenditures were ~28% of budget at quarter end.
- Bond timing: Work related to a demolition (Roncalli) is expected to extend into FY26‑27, potentially extending bond spending and timelines.
- Categorical costs: Nijans said categorical funding increases may not cover the full cost of programs such as special education and English‑language learner supports, forcing the district’s general fund to cover gaps.

Quotes

"The new formula is going to be very painful for this district," Nijans said, and later warned that elements of the new law and a possible spreading‑out of new funding could harm the district’s near‑term finances.

Procedural actions and recorded votes (at this meeting)

- Motion: Go into executive session to discuss positions and strategy for negotiation on possible sale of Carlisle Elementary School (736 W. Evans Ave.) and Strack School (210 W. Fairview Ave.) (purpose stated consistent with Colorado law cited in the meeting). Outcome: approved. Vote recorded as: Mr. Cisneros — Aye; Dr. De Niro — Aye; Judge Mays — Aye; Mrs. Penencio — Aye; Mr. Tebow — Aye.

- Motion (Director Thiebaud): Add a resolution concerning full funding of public education to the agenda; Board amended the motion to add it as an information item immediately before the consent agenda. Outcome: approved. (Roll call for adoption of the amended agenda during the meeting: Mr. Cisneros — Aye; Dr. De Niro — Aye; Judge Mays — Aye; Mrs. Penencio — Aye; Mr. Thiebaud — Aye.)

- Motion: Adopt the consent agenda (items 2–4). Outcome: approved. (Recorded: Mr. Cisneros — Aye; Dr. De Niro — Aye; Judge Mays — Aye; Mrs. Penencio — Aye; Mr. Tebow — Aye.)

What the board said next

Directors who had not seen the full resolution asked to have it presented as information so they could read and study it before voting; Director Thiebaud indicated he preferred the board act quickly because the legislature is in session. The board settled on adding the text to the meeting as an information item so members and the public could hear the resolution read and begin preliminary discussion, then take action at the next regular meeting if desired.

Ending

The CFO requested continued attention to salary encumbrances and categorical gaps, and the board left the resolution on the agenda for discussion at the current meeting as information only. The board did not adopt the resolution on Jan. 14; any final action would require a separate motion and vote in a future meeting.