CFO presents FY25 close and FY27 budget parameters; district reports higher than budgeted revenue and stronger fund balance

Chief Financial Officer Lonita Broom provided an unaudited review of fiscal year 2025 and presented parameters and priorities for the FY27 budget. Ms. Broom said FY25 budgeted revenue was $104,300,000 and budgeted expenditures $106,500,000; actual unaudited collections exceeded the FY25 budget by roughly $4,000,000, driven primarily by higher tax collections and an adjustment from DeKalb County. Expenditures closed under budget by about $2,600,000, resulting in an unaudited ending fund balance materially above the prior budgeted estimate.

For FY27 Broom emphasized priorities that align with the district strategic accelerators: present a balanced budget, invest in an ERP system, maintain fund balance policy targets (4–15%), seek alternative revenues and keep compensation competitive. She noted costs that will affect FY27: TRS rate increases (21.91% to 22.32% projected) and potential state health benefit changes. The board directed staff to incorporate feedback and bring draft FY27 parameters to the Nov. 18 retreat; final budget adoption is scheduled for June 9, 2026.

Board questions centered on how savings occurred (vacant positions and timing), classification of professional learning costs, and how the district might tighten budgeting assumptions to avoid over‑taxation. CFO Broom and board members discussed using historical vacancy rates to set conservative budgeting assumptions and the need to select an ERP vendor to improve budget forecasting.