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Finance director: life insurance, utilities and out‑of‑district tuition driving year‑end pressures
Summary
District finance staff told the committee on May 12 that life insurance premiums are up 10.5%, natural gas/electric costs have exceeded budget, and out‑of‑district tuition is approximately $300,000 over budget but partially offset by a $250,000 reimbursement; an audited electronic copy will be shared.
At the May 12 meeting, district finance staff (Miss Carrie) presented the monthly financial report as of April 30, 2025, highlighting several cost pressures the district is tracking.
Miss Carrie said life insurance premiums have risen "10.5%" and noted out‑of‑district tuition is running higher than budgeted, roughly "about 300,000 right now over budget," though staff have received about $250,000 that helps offset the overage (SEG 146–151; SEG 187–191). She also noted legal services and utilities (natural gas and electricity) have been higher than expected and that the district is adjusting budgets to reflect those increased costs (SEG 150–153).
Miss Carrie told the committee the official audit has been completed and that an electronic version of the audit can be shared while staff waits for bound copies (SEG 172–176). She said a clearer year‑end estimate will be available in June after closeout of retiree payments and other transactions (SEG 164–168).
Committee members asked when a final estimate would be available; Miss Carrie said an estimate would be provided around June once the fiscal year closes on June 30 (SEG 164–168). The committee did not take a formal vote on these reports; they were presented for review and budget planning.
Staff also reviewed architect and PMA/Perkins Eastman invoice timing, explaining that design costs are front‑loaded in capital work and that additional April invoices were received after the March packet (SEG 197–206).
