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Arlington ISD finance update: child nutrition revenue down, bond refunding yields $49.2M taxpayer savings
Summary
CFO Darla Moss told the board the district is tracking lower enrollment and ADA and proposed budget amendments; the district’s February bond sale and refunding produced an estimated $49.2 million in savings for taxpayers.
Arlington ISD finance leaders reported updated budget forecasts and a bond sale on March 13, flagging lower enrollment and attendance, a proposed amendment to several funds, and results of a bond refunding that district staff said will save taxpayers about $49.2 million.
CFO Darla Moss said the district had received about 67% of projected general fund revenue and spent about 53% of budgeted general fund expenditures as of the January reporting period. She told trustees enrollment had fallen from 53,083 in January to roughly 52,009 and that average daily attendance (ADA) declines in February were driven in part by illness and weather that reduced attendance on specific days.
To respond, Moss outlined proposed budget amendments across funds: a general operating fund amendment (district presenters described a net change that would substantially reduce the projected shortfall), an approximately $773,000 net change to the child nutrition fund tied to lower student participation and a lower reimbursement rate, and a $34.8 million technical adjustment in the capital projects fund related to FY24 year-end accounting. Moss said ESSER funding provides a positive offset of about $16 million this year.
On child nutrition, Moss said the district had anticipated a higher USDA reimbursement increase but received roughly a 2.3% increase; she and Food Service staff noted the district may not receive some one-time local food grant funds from USDA and were monitoring potential exposure. Moss told trustees a $2.5 million revenue reduction was reflected in the child nutrition amendment due to lower participation and reimbursement rates.
Moss also briefed the board on a February bond pricing day. The district issued new-money Series 2025 bonds of $163,500,000 and a refunding portion of $170,000,000; the aggregate true interest cost reported was 3.66%. Moss said the refunding portion yielded about $49.2 million in savings for taxpayers.
Trustees asked technical questions about ADA waivers, the drivers of the child-nutrition reimbursement change, and the bond sale. Trustee Wilbanks noted the budget work reduced the projected general fund shortfall to roughly $959,000, and trustees thanked Moss and team for detailed analysis and for pursuing refunding that lowers future interest costs.
No final budget amendments were adopted at the meeting; Moss indicated amendments would appear later on the consent agenda for board action and staff would continue monitoring attendance, tax collections and interest forecasts.
