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District fiscal report: fund balance rebounds; state funding and enrollment drove revenue gains
Summary
District staff told the board the Arlington School District closed fiscal 2024—025 with a larger general fund balance driven by higher-than-expected state revenues tied to enrollment; the presentation outlined revenue mix, expenditures and audit timelines.
Gina Zuttenhorst presented the Arlington School District's 2024—025 F196 fiscal year-end financial summary to the board, highlighting a rise in the general fund balance and shifts in revenue and expenditure categories.
"The primary thing that you will likely notice right away is that our fund balance has increased," Zuttenhorst said, reporting an increase of approximately $1,694,000 and an ending general fund balance she gave as about $2,900,000. She told the board that the district's revenue mix remains heavily weighted to Washington state funding, which the presentation showed as the largest source (state general and state special purpose combined were described as approximately 81% of revenues). Local levy revenue was described as roughly 11% and federal funding about 4%.
Zuttenhorst attributed the revenue increase in part to higher enrollment (the presentation cited 53 more full-time-equivalent students than budgeted and 125 more than in 2022—023), and to additional state special-purpose and special-education funds that arrived late in the fiscal year. She also said the district has repaid interfund loans (including $28,240 in interest) and reviewed major expenditure categories (certificated and classified salaries, benefits, supplies, purchased services and capital/lease accounting entries).
On capital projects and debt, the presentation noted that previously voted bonds and most nonvoted project bonds have been repaid; remaining transportation-vehicle debt is limited to bus purchases. The district's Washington State Auditor's Office will perform its financial and federal single audits in the coming months and issue an opinion on whether the statements are fairly presented.
Board members asked clarifying questions about the condition ratings used in facility assessments and how OSPI's formulas affect construction assistance eligibility; staff said OSPI's seat and condition calculations are used for eligibility but may not reflect local operational realities.
Next steps: the district will post the full F196 report to OSPI and proceed with the scheduled external audits.
