Lancaster ISD finance update: December tax receipts reported; board authorizes $1 million emergency repair from fund balance

Lancaster ISD staff presented the district’s December 2024 financial update and the board approved an emergency use of fund balance to cover unplanned repairs.

Finance director Kimberly Peters told trustees the district received $12.5 million in maintenance-and-operations (M&O) property tax collections and $6.9 million in interest-and-sinking (I&S) collections in December, for a district total of about $19.4 million that month. Through December of the fiscal year, Peters reported roughly $30.2 million in general‑fund revenues and $30.4 million in expenditures; itemized top revenue sources included local property taxes and the Foundation School Program. The district also reported receiving $8.4 million in debt‑service revenues through December and noted it has prepaid approximately $27.3 million in existing bonds since 2021; materials provided to the board include the district’s detailed refunding and savings calculations.

During the meeting the district said an emergency water‑main break at the stadium required immediate repairs. The board considered and later ratified a motion authorizing the superintendent to use fund balance for emergency repairs in an amount not to exceed $1,000,000. In the final motion ratified in open session the board authorized up to $1,000,000 from fund balance, with $750,000 allocated to Function 51 and $250,000 to Function 53 for emergency repairs. The motion passed 6–1 on the final ratification vote.

Ending

District staff said bond‑refinancing and routine budget work (including 0‑based budgeting reviews) are ongoing and that classroom positions will be the last area considered for cuts if future budget adjustments become necessary. The board asked staff to continue regular financial reporting and to provide full documentation of the emergency repair expenditures.