Duval finance update: board hears budget resolution, fund‑balance uncertainty tied to state 'fourth calculation'

District budget officials briefed the Duval County School Board on Nov. 4 about a September 2025 budget resolution and the district’s financial position, saying the general fund balance is stronger than a year ago but remains subject to change pending a state funding ‘‘fourth calculation.’’

Ron Fagan, a district budget official, and other staff presented the monthly financials and the budget resolution. Fagan said the district’s cash position is strong and that the general fund balance was ‘‘running about $151,000,000’’ in the preliminary financials, but he cautioned that the pending state fourth calculation could alter that figure.

Why it matters: state funding calculations (including the FEFP and its follow-up adjustments) directly affect district revenues and how much the district can commit to classrooms, staffing and capital projects.

Key figures and context

District staff said the district had roughly $1.2 billion in cash and sufficient liquidity to meet obligations. The general fund balance was reported in the meeting materials as approximately $151 million (about 5% of the budget in the board presentation), but staff said the number could be a ‘‘false positive’’ if reconciliations change when the state releases the fourth calculation.

Budget officials told the board they rolled forward an estimated $45 million from the prior year when preparing this year’s budget. Staff also described recent investments: the district reallocated money to reduce elementary class‑size noncompliance, adding about $17 million to meet class‑size goals and later adding another roughly $7.5 million after final calculations.

Enrollment and FTE uncertainty

Board members asked about enrollment and the district’s funded full‑time equivalent (FTE) count. Staff said initial enrollment trends showed the district down about 1,000 students compared with the previous year, but actual FTE funding will be confirmed only after state FTE reporting is finalized.

Capital and internal funds

The capital outlay fund showed a revenue increase tied to late sales tax receipts; some fund changes reflected timing differences rather than permanent revenue shifts. The internal service (health care) fund showed revenue increases tied to timing of employee enrollment and investment income.

Ending

Board members asked for additional month‑to‑month comparisons in future reports. Staff agreed to provide updated financials when the state fourth calculation and final FTE reports are available and to clarify timing items in the board packet.