CFO summarizes unaudited FY25 results and outlines early FY27 budget development
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Scott Johnson, the district’s chief financial officer, presented unaudited FY25 results showing the district used about $6.8 million of fund balance—better than projections—and outlined the FY27 budget development tracks and calendar.
Scott Johnson, chief financial officer, presented a high‑level, unaudited recap of FY25 results and an early look at FY27 budget planning. Johnson said the food service fund used nearly $554,000 of fund balance (within $61,000 of the amended estimate) and attributed revenue shortfalls to fewer meals served and lower state aid; he noted the food service program is returning toward pre‑COVID fund balance levels.
The school construction fund realized a modest increase (about $4,000) primarily from interest earnings. For the combined restricted and unrestricted operating funds, Johnson said the district used approximately $6.8 million of fund balance in FY25—about $10 million better than the $17 million the budget previously projected—and estimated a budgetary fund balance around $36 million (close to a 12% target) at fiscal year end on a budgetary basis.
Board members asked for more detail on drivers of revenue and expenditure variances, collection practices for grants, and the magnitude of swings in the school construction fund. Johnson said roughly half of construction funding comes from county sources and half from the state, and that COVID‑era grant receipts had contributed to prior spikes in fund balances. He said the final audited report is expected in the next 2–4 business days and that the external auditor will present audited financial statements and any findings at the November meeting.
Johnson then outlined four budget development tracks (state aid and county/local estimates; wage and salary projections; director budgets; principals’ budgets), key calendar milestones (preliminary state aid estimate expected by November; county appropriation typically finalized in June), and guiding priorities including honoring negotiated agreements and meeting Blueprint for Maryland’s Future requirements. Board members discussed sequencing of board priorities and involvement of the Citizens Advisory Committee.
What happens next: auditors will present audited FY25 financial statements at the November meeting; Johnson said staff will post the budget calendar and continue outreach to stakeholders.