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South San Antonio ISD finance officer reports projected $1M–$1.5M general fund shortfall; investment balance up after tax collections
Summary
At the March 17 meeting the district’s finance staff presented the February financial and quarterly investment reports showing year-to-date revenue and expenditure totals, a projected general-fund deficit, and an increased investment balance tied to seasonal tax collections.
Board finance staff presented the monthly financial report for February 2025 and the quarterly investment report during the March 17 South San Antonio ISD Board of Trustees meeting.
Finance presenter Mr. Kingman told trustees general‑fund year‑to‑date revenue stood at about $48.4 million, up from $42.6 million in January, with February collections of approximately $5.8 million (about $2.5 million from local property taxes and $3.2 million from state foundation school program receipts). Year‑to‑date general‑fund expenditures were reported near $36.0 million. Kingman said the district projects finishing the fiscal year with a deficit “ranging in between $1,000,000 to $1,500,000.” He attributed two primary concerns: a roughly 100‑basis‑point drop in investment interest income (about $400,000 in lost income) and a slightly lower average daily attendance than budgeted.
On the food service fund, staff said February activity generated approximately $900,000 in revenue and $760,000 in expenses; year‑to‑date totals were reported at about $4.8 million for both revenue and expenditures. Kingman reported the Food Service Fund expects to close the year with a planned deficit of roughly $1,000,000, part of a deliberate strategy tied to prior policy; he added the department passed its recent Texas Department of Agriculture (TDA) audit with no significant findings.
The district’s quarterly investment report showed the portfolio balance rose from about $30.2 million at the start of the quarter to $46.3 million as of Feb. 28, primarily due to seasonal revenue collections between November and February. Kingman said the portfolio allocation is roughly 40% agency bonds, 40% repurchase agreements, 16% U.S. Treasuries and 2% money market holdings. He noted the investment balance typically falls in later quarters as the district spends collected funds.
Board members asked about the deficit projection and guiding budget principles. Kingman said staffing is the largest budget component and that budget strategy centers on aligning central and campus staffing ratios to projected student counts. The superintendent added identified cuts will be used to reinvest in schools and teachers. No formal action was taken on the financial reports during the meeting; the presentation was opened for questions and discussion.
