Kyrene CFO reviews bond, override spending and publishes annual budget report

Chief Financial Officer Chris Sherman presented the Kyrene Elementary District governing board with the district's statutorily required annual report on bond and override expenditures on Oct. 14 and introduced the district's budget annual report, an ASBO‑aligned document summarizing revenues, expenses and capital planning.

Sherman walked the board through how transportation and capital funding are calculated and distinguished bonds from maintenance and operations (M&O) and District Additional Assistance (DAA, the capital override). He explained that transportation funding is calculated using a "transportation support limit" based on miles driven and noted that although the state increases its per‑mile rate periodically, the district's annual transportation revenue often remains constant because of statutory testing rules tied to the support limit.

On capital spending, Sherman reported that the district spent roughly $31–34 million on…