CFO: St. Helens fund balance improves slightly but PERS increase could create multimillion-dollar gap
Summary
Chief Financial Officer Christine Woodard reported an estimated 2024-25 ending fund balance near $1.0 million and a 2025-26 projection of about $1.056 million (roughly 2.6% of budget), below the board's 5% reserve policy; she warned a potential PERS employer increase (~30%) could cost roughly $3 million and staff are planning expense reductions.
St. Helens School District's chief financial officer told the board on Nov. 12 that the district's ending fund balance improved modestly but remains below the board's 5% target and that potential PERS contribution increases could create a significant shortfall.
Christine Woodard reported an estimated 2024-25 ending fund balance of about $1,000,001 and a projected 2025-26 ending balance near $1,056,946, representing roughly 2.6% of the budget compared with the board policy target of 5%. Woodard said the district would need about $967,000 to reach the 5% target given current estimates.
Woodard also cited external risks: early estimates from PERS and financial advisors suggested a possible employer contribution increase of roughly 30% in a coming year, which she approximated could amount to about $3 million for the district. She said site-account wind-downs that saved the district money in prior years are ending in 2027 and that those account true-ups are contributing to the projected pressure.
Board members asked about options; Woodard said staff are reviewing expense reductions, will share updated PERS estimates in December and plan for community budget roadshows ahead of next year's budget cycle. Separately during board reports, the chair said the district has spent about $40,000 on attorney fees related to complaint processes this year, and staff estimated about 20 hours of administrative time per complaint for investigative work.
