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Preliminary budget shows $1.2% projected unassigned fund balance; district monitoring legislative changes
Summary
Finance staff presented a preliminary budget summary, noted a projected 1.2% unassigned general fund balance as of June 30, and said the district will revise the adopted budget if the state budget changes after the legislature acts.
Marie (finance) briefed the board on the preliminary 2025-26 budget summary and fund balances.
Marie told directors that, based on current assumptions, the district projects an unassigned general fund balance of roughly 1.2% as of June 30. She said the district is tracking pending legislative action and will submit a revised budget early next fiscal year if the legislature changes state aids after the board adopts the budget on June 17.
The presentation walked directors through revenue and expenditure classifications and noted relatively small line-item adjustments since the last report (approximately $6,600 in changes related to UFARS coding and a shift of the school readiness program into the voluntary pre-K budget). Marie said operating capital funds are planned to be drawn down by about $1.07 million for literacy curriculum purchases and listed typical categories in assigned and restricted fund balances (severance, facility improvements, grants/donations, QCOMP carryover).
She highlighted that building-construction/bond funds are timing-dependent and that the district will likely issue additional bonds (including LTFM bonds) in winter months for planned projects. Marie said the budget summary book would be provided to the board early next week and that if the legislature finalizes state aid changes before adoption the district will incorporate them; otherwise the board will approve the budget then amend it out of the gate if needed.
Directors asked about assigned fund balances and whether specific assigned dollars could be moved to unassigned; Marie and Superintendent Funk said assigned and restricted balances represent legally or donor-restricted funds, grants, operating capital and other dollars not available for general reallocation.
Marie said the district's plan is to grow the unassigned balance over time rather than draw it down for ongoing expenses.
