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Centennial SD reports FY25 revenue ahead year to date; board hears budget pressures from staffing and special education
Summary
District finance staff reported year‑to‑date general revenues of $127 million through April — $3.6 million ahead of last year — while general fund expenses of roughly $110.8 million and special-education and staffing costs continue to pressure the FY25 budget; the board was briefed on timing for the final proposed budget and next meetings.
Centennial SD finance staff reported that the district’s FY25 general revenues totaled $127 million through April, about $3.6 million more than the same period a year earlier, driven largely by real-estate taxes and higher-than-expected earned income tax (EIT) collections.
Finance staff said the gains on the federal side were largely the result of ESSER grant closeouts, and they cautioned that some state and federal revenue lines — including a final adjustment to title funds — were lower than anticipated. The district’s general fund expenditures through April were reported at about $110,845,000, with year‑to‑date increases driven by professional services (notably special‑education placements), labor and benefits.
Staff said Keystone, the vendor that estimates EIT forecasts, provided a revised projection that is slightly higher than the working model. The budget team said they are finalizing the proposed final budget and the Act 1 index increase that governs tax-setting authority; staff indicated an Act 1 increase of about 4% will be included in the proposed numbers and that they aim to present the proposed final budget at the board meeting on June 27, with additional review at a June 12 meeting.
Board members and staff discussed cost drivers. Finance staff said recent hiring on the elementary side increased salary expenditures and that special-education placement costs remain volatile; the district has considered a special‑education contingency to manage unanticipated expenses. Staff added that moving a previously planned transfer from the debt‑service fund to the general fund was an option to smooth the current year’s deficit, and that a projected one‑time reconciliation payment from the Intermediate Unit (IU) remains under review.
The board was also told of a property tax assessment challenge that produced a favorable reassessment for the Lydell building (now a Tesla service station on York Road). Staff said the assessed value for the parcel moved from about $3.61 million to about $5.51 million over the review period; the district expects a one‑time additional collection of about $238,000 and an ongoing annual increase of roughly $71,000 tied to that reassessment.
Staff asked the board for a motion to forward five consent items — including joint purchasing program participation, an RFP for musical instrument rentals and a procurement card request for food-service manager Lori Denny — to the committee of the whole for formal votes. A board member seconded that request; the transcript records the motion and second without a roll-call or final tally during the meeting.
Staff summarized the district’s current forecast as showing an operating deficit in the millions if planned transfers are included; they emphasized continued work to identify reductions in non-labor general expenses and to finalize the proposed budget schedule. The board set June meetings to continue deliberations and to receive bond counsel and budget updates.
