Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Board adopts proposed FY2028 budget for March ballot and accepts financial report amid enrollment declines
Summary
Trustees adopted the proposed budget and election documents for the March ballot (millage unchanged at 46.4 mills), reviewed bond and fund balances and discussed a roughly 600-student enrollment decline that could reduce state foundation funding by about $9 million.
The Little Rock School District Board adopted a proposed budget of expenditures for the fiscal year beginning July 1, 2027 and ending June 30, 2028, and approved related election documents for the March 2026 school election. Finance staff said the district's millage rate would not change and remains 46.4 mills.
Staff reported recent capital activity: the district closed on bonds that generated roughly $74.5 million for the capital improvement fund and has prepared a post-issuance compliance resolution to meet audit and bond covenants. The board approved the attached resolution and compliance policy manual.
On operations, finance staff reviewed October financials and fund balances and noted a recent large deposit related to collections: staff referenced a major deposit of approximately $79 million that boosted fund balances in November. Staff also reported a decline in enrollment of roughly 600 students as of Oct. 1, which the finance presentation estimated could reduce foundation funding by about $9 million if the decline holds across reporting periods. Board members asked for deeper operational detail ahead of a December work session and discussed potential reductions, budgeting priorities and the timing of election-related deadlines.
The board moved to accept the financial report as submitted and the motion carried. Trustees directed administration to prepare detailed budget and operational information for future work sessions.
