Preliminary 2024-25 financial snapshot: Niskayuna maintains 4% fund balance, increases capital reserve

District finance staff presented the Board of Education with a preliminary year-end financial analysis for the 2024-25 fiscal year showing generally strong budget performance, a maintained 4% unassigned fund balance and an increase in capital reserves.

The presenter said the operating difference between expenditures and revenue showed a negative $862,900 figure partly attributable to carryforward encumbrances from the prior year. The district carried forward about $2.4 million in encumbrances into the fiscal year but reduced that carryover to roughly $1.25 million as of June 30, 2025, freeing capacity to allocate to reserves. The presenter said state building-aid timing also affected revenue recognition: an expected two building-aid payments for Iroquois materialized as one payment because of filing timing.

As of June 30, 2025, the presenter said the combined capital-reserve balances (from voter-approved reserves in 2016 and 2024) are projected to total about $8,250,000. The district also reported small positive differentials in salaries and benefits lines and explained a near-term accounting treatment that shifted certain technology installment purchases into debt-service reporting rather than operating lines.

Board members discussed the district's fund-balance policy and the common practice of appropriating fund balance to cover small forecast risks; finance staff said they will continue to use the audit and finance committee to monitor projections and to bring more line-item detail forward as budget planning proceeds.

No budget adjustments were adopted at the meeting; staff said they will continue analysis and report findings to the audit and finance committee and full board.