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District financial update: enrollment dips, capital projects move forward and Blossom Gulch offices to open in May
Summary
Coos Bay School District staff reported a modest April enrollment decline and presented multi-fund financials showing the district on track for the year while moving forward on several capital projects, including Blossom Gulch workspace and phased work on Sunset High School's roof.
District finance staff reported the district was down 12 students from late March (from 2,994 to 2,982) and down 41 from the prior year, but said the district’s current projections put the year-end enrollment near 2,950. Staff clarified those numbers reflect the actual day’s Average Daily Membership (ADM) and do not include state weighting adjustments that affect funding reconciliation.
At the board meeting, a finance presenter said the district expects the state school fund reconciliation in May to change the current projection and that local sources such as property taxes and miscellaneous receipts were tracking favorably. The district reported an audited beginning fund balance in the general fund of about $5.44 million, roughly in line with prior projections.
Special revenue funds that hold grants and student-activity dollars showed mixed projections because staff said actual grant receipts have differed from budgeted expectations. The presenter warned some special-revenue lines could show unfavorable variances if pending summer-school grants are awarded and staff must return later in the year for appropriations transfers.
Facilities and capital projects were a substantive portion of the update. The board heard that supplemental-budget funds approved in March allowed progress on Blossom Gulch renovations; staff said the business office is expected to move into Blossom Gulch offices in May to support payroll and budget season. Facilities staff reported progress on the phase 1 Sunset route project with planning for a five-year phased approach to address Sunset High School’s roof — staff said a full replacement would be about $2 million or a phased $400,000–$500,000 per year plan.
Board members questioned the financial impact of a PERS-related bond expiry and rising PERS rates; staff said the district expects roughly a 6% average increase in PERS cost coinciding with the end of a PERS bond and noted a pending house bill could reduce that impact by an estimated 1.6% if enacted.
Project budgets in the capital projects fund were described as under budget to date, and the facilities director was credited for accelerating some timelines. The board was cautioned that intermediate revenue such as the county school fund can vary — wood sale and timber receipts are unpredictable and can create fluctuations in intermediate revenue receipts.
In other items, staff said debt-service payments remain on track and that the district expects to make its final principal payments of the fiscal year in May and June. The board also discussed potential appropriation transfers if anticipated summer-school grants materialize.
