CFO: district fund balance improving; school district adds excess liability coverage as board seeks more financial transparency

Christy Woodard, the district’s chief financial officer, gave the monthly financial report at the Oct. 27 meeting and reported that estimated ending fund balances were improving as the district closed the 2024–25 fiscal year. Woodard said the estimated 2024–25 ending general fund balance is $876,944. The preliminary 2025–26 estimate was reported at $314,750, below the district’s budgeted ending fund balance (reported in the packet as $809,000). Woodard said staff are discussing steps to improve that projection.

Woodard also briefed the board about liability insurance for claims of sexual abuse and molestation. She said the district’s insurance placement changed this year: regular coverage of roughly $2,000,000 remained in place, and the district obtained excess coverage that Woodard reported adds $3,000,000 in capacity from an excess provider and that the total coverage level now is $6,000,000 (as presented). Woodard said the additional premium cost to secure the excess layer is $240,000 and that the coverage…