Gilbert Unified reports $4.9M available in operations, flags capital timing and benefit trust drawdown

Bonnie Betts, a presenter from the district finance office, told the Gilbert Unified School District governing board on Nov. 4 that the maintenance and operations fund had “an available balance of about $4,900,000” as the district closed the first quarter ending Sept. 30, 2025. She said unrestricted capital showed roughly $18,800,000 in year-to-date expenditures and encumbrances against a budgeted $30,600,000 and that a large portion of those encumbrances reflect a planned technology refresh that typically occurs in spring.

The most immediate revenue timing issue, Betts said, is that the district has received only 17.2% of expected operating revenue to date, short of a nominal 25% benchmark for the first quarter. “Remember that we still have that delay in our funding where they delay the rollover of current year fiscal 20 26 revenues into 2027,” she said, adding that the timing change reduces available cash by about $38 million annually and that most property-tax receipts typically arrive late November and in March.

Betts also highlighted the employee benefit trust, reporting a revised year-to-date expended/encumbered total that leaves an available balance of about $19,900,000 — implying an anticipated drawdown of approximately $4,000,000 this fiscal year because of claims experience. “As we see additional claims expense, we will definitely keep you apprised on a monthly basis,” she said.

On expenditures, the finance presentation showed total expended and encumbered amounts falling from about $344,000,000 in 2024 to $332,800,000 in 2025, with the largest year‑over‑year change in unrestricted capital (prior-year spend $35,600,000 vs. $18.9 million encumbered this year). Betts attributed the shift partly to bond dollars being fully spent and to the timing of purchase orders and encumbrances.

Board members asked clarifying questions about the disappearance of a county equalization line from the 2024 presentation; Betts said a 2023 state legislative change ended the county equalization fund and that the amounts formerly assessed to Maricopa County taxpayers were absorbed by the state general fund. She also said staff corrected several AFR (annual financial report) line items during the meeting’s business session, including beginning fund balances, grant fund rollups, reclassification of certain CTE/EVIT pass-through expenditures and food-service inventory values.

The board did not take additional fiscal action beyond approving the staff-recommended AFR revisions later in the meeting. The district said it will continue monthly reporting to monitor cash flow and claims activity.