District reports stronger local revenue, moves nearly $13 million to capital projects

Finance staff presented an end‑of‑fiscal‑year summary showing local revenue stronger than expected and described transfers to capital projects.

The finance presenter reported local revenue exceeded expectations and identified roughly $3.3 million in additional local sales‑tax receipts as part of the increase. She said the district’s one‑month fund balance was about $12.3 million and that staff moved approximately $12,960,000 from the general fund into the capital projects fund. "There's $12,960,000 that we were able to move over to capital projects," the presenter said, and she also noted $6,000,000 in sales tax previously earmarked for capital improvements and additional smaller local sources and grants supporting playground surfacing in Elkmont.

The presenter said some funds shown in the general fund represent advancement‑of‑technology dollars that must be spent in fiscal 2026 and that certain state grants arrived after the original budget and were included via a budget amendment. The staff member described how the capital projects fund included local sources, interest earnings and a local grant that supported a playground surfacing and shade project, and she said staff will finalize state packet reviews and any required edits with the state accountant team.

Board members asked clarifying questions about specific line items and the timing of transfers. The presenter said final accounting steps are pending review but emphasized the transfers were consistent with budgetary rules and existing grants.