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District finance update: tax bills released, draft statements show 12% increase in fund balances
Summary
The district reported property tax bills were released Nov. 15 (due Dec. 15) and provided draft FY25 financial statements showing a roughly 12% increase in fund balances compared with FY24, with operating fund balance quoted at $36.8 million and working cash at $19.6 million.
An unidentified finance presenter told the board that property tax bills were released Nov. 15 with a Dec. 15 due date, and that the district should start receiving tax revenue sooner than previously anticipated.
The speaker said the first draft of the district's FY25 financial statements contained no audit findings and showed approximately a 12% increase in fund balances compared with the close of FY24. The presentation gave an operating fund balance of $36,800,000 and a working cash fund balance of $19,600,000 as of Oct. 31, 2025 (with the tax revenue not yet posted at that date).
The presenter also noted initial federal grant activity: first payments for Title I, Title II and Title IV have been received; the first voucher for IDEA was issued on Nov. 12 but was still awaiting comptroller processing. State-mandated categorical grant payments for free lunch and transportation were also issued in October, and no disruption to evidence-based funding had been reported as of Nov. 25.
Board members requested further updates at the December meeting when the certificate of tax levy and final revenue estimates will be presented.
