FY25: Tulsa Public Schools ends year with $3 million added to fund balance as ESSER funding expires

Tulsa Public Schools staff reported that the district closed fiscal year 2025 with a $3 million increase to its fund balance despite a drop in federal revenue tied to expiring ESSER funds and higher personnel costs.

Chief Financial Officer Chief Stevens told the board the district collected about $9 million less in total revenue than the prior year, driven in large part by an approximately $16 million decrease in federal revenue as ESSER pandemic funds expired. State aid remained largely flat, and the district earned about $500,000 more in interest in FY25 versus FY24.

On the expenditure side, Stevens reported about $3 million more spending than the prior year, driven by investments in employee compensation and staffing. The district allocated $6 million for a one‑time retention incentive, reported increases in fill rates that added roughly $8 million in staffing costs, implemented negotiated step increases that added about $3.7 million in teacher salary expense, and incurred approximately $5 million in benefit costs tied to salary increases.

Stevens said the district spent the full SOR allocation by the Sept. 30, 2024 deadline and noted large prior‑year ESSER‑funded HVAC projects explained a drop in purchased property services this year. In total, the district reported landing just under $372 million in general fund expenditures for FY25, with the predominant category of spending in instruction and in salary and benefits.

Board member Moniz asked whether savings on contracted services were a deliberate effort to reduce outside vendor use; Stevens replied affirmatively. No formal vote was required on the presentation.

Ending: Stevens said the FY25 outcome helps sustain district priorities as ESSER funds end and the board will continue monthly finance committee reviews and quarterly reporting to the board.