Finance presentation: district reviews long‑range reserve plan and flags May capital proposition

Laura Buzinski, the acting clerk and assistant superintendent, presented the district’s long‑range reserve plan as a working document and reviewed reserve categories, balances and constraints. She said the ERS reserve balance is just over $1,000,000 and the TRS subfund balance is approximately $1.7 million; she explained GASB 101 changed the methodology for accrued liability recognition and that "our liability for comp expenses increased to 10,400,000."

Buzinski walked the board through reserves for retirement contributions, accrued liability for employee benefit payouts, unemployment (self‑funded), tax cert reserves (to cover refunds), and newly established insurance and liability reserves funded from excess fund balance. She noted the district’s capital reserve (authorized by voters in 2021) has a $10 million maximum and a 10‑year term and that current capital reserve balance is about $1.7 million with room to add further funds up to the statutory limit.

As a planning note, staff flagged a May voter proposition (Proposition 2) for a $12.5 million capital authorization described as tax neutral; Buzinski said $5 million of those funds would come from district reserves and another $3.2 million from other available funds if the proposition is authorized. The presentation emphasized that this reserve plan is intended to guide budget development and that a formal adoption is planned for the Dec. 9 board meeting.

Board members were invited to ask questions; staff said the document will be updated and returned for adoption in December. Later in the meeting trustees approved an unrelated "new business item D" by voice vote (announced as passing 7–0).