Gilbert Public Schools adopts FY2025 revised budget No. 1 after finance staff report showing multimillion-dollar increases

The Gilbert Public Schools governing board on Feb. 4 voted 5-0 to approve Fiscal Year 2025 revised budget No. 1 after the district's finance team reported higher-than-estimated student counts, larger-than-expected carryforward balances and stronger interest and grant reimbursements.

Director of finance Jackie Netman presented the revision during the work study, saying, “We are presenting the fiscal 20 25 revised budget number 1. We are not required to revise the budget at this time.” Superintendent Shane McCord and budget staff explained the changes and took questions from board members before the vote.

Why it matters: The revision increases the district's M&O revenue control limit and unrestricted capital capacity, restores money the district had planned to transfer from capital to operations and incorporates final carryforward and grant completion reports that were unavailable when the budget was adopted in July.

Key figures and drivers - Average daily membership (ADM) and weighted counts: The district reported an ADM of 30,065 for FY2024 recalculation, an increase from earlier adopted estimates, and an…