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Dallas SD 2 finance report flags tighter budget after lower state estimates
Summary
District staff told the board that state school fund estimates are trending down, pushing projected ending fund balance below 5%; staff reported February receipts and expenditures and flagged potential appropriations transfers in May.
District finance staff reported a tightening budget outlook at the Dallas SD 2 board meeting, saying state school fund estimates "are not going in a real positive direction," which reduces the district's projected ending fund balance.
The district reported receiving $2,486,000 and spending $3,196,000 in February, a typical spending pattern for the month but one that, combined with lower revenue estimates, puts year-end projections under pressure. Finance staff said the district currently holds $34,932,138 in the Local Government Investment Pool earning about 4.7% and noted $21,000,000 in capital project accounts that are awaiting spending.
Staff described uncertainty around a high-cost disability grant, saying the district previously approved roughly $1,600,000 in related expenditures and is "anticipating about 40% reimbursement" but will not know the final funding level until mid-April. The finance presenter warned that reduced reimbursements and continuing expenditures could push the district close to appropriation levels that would require a resolution transfer near the end of the fiscal year and that staff may recommend transfers in May.
Board members asked clarifying questions but took no additional action at the meeting. Finance staff said they will continue monitoring encumbrances and report back with recommendations.
Next steps: staff will monitor grant and revenue updates, and may return with proposed appropriation transfers in May if needed.
