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Treasurer says district projects $58M in revenue, records one‑time county reimbursement and plans PBM change
Summary
Treasurer Craig reported projected FY26 receipts of a little over $58 million and a $966,000 favorable variance; he said a nearly $600,000 county reimbursement boosted October receipts, the district transferred $3 million from savings to cover payroll and bond payments, and the consortium will switch pharmacy benefit managers to SmithRx in January.
At the Nov. 19 meeting Treasurer Craig presented the district’s October financial report, saying projected total revenue for fiscal 2026 is just over $58 million and the current forecast shows a $966,000 favorable variance. Craig told the board the district received a large, unexpected reimbursement — nearly $600,000 — from the county auditor’s office tied to the sexennial property reappraisal, which contributed to the favorable variance.
Craig said personnel costs (salaries and benefits) are down roughly $300,000 year over year, while purchase services and supplies rose approximately $150,000, creating a net unfavorable variance of about $366,000 to monitor. He also said he wired $3,000,000 from savings this week to cover payroll and a $1.6 million bond payment for the elementary school, and that the district will re‑evaluate cash position in the February forecast.
On health‑benefit procurement, Craig described a planned change in the pharmacy benefit manager for the consortium: moving from Express Scripts (Evernorth) to SmithRx effective in January, a change the treasurer said was driven by an RFP and consultant work (Assured Partners and specialty consultants) and is expected to yield $1.5–$2.0 million in consortium‑level savings. He noted the PBM market’s structural conflicts and said the SmithRx approach uses a flat fee that the consortium expects to be more cost efficient.
The treasurer closed by noting continuing low reserve levels in the consortium and the need for larger reserves, while saying the district is stabilizing costs and tracking claims more closely. Board members asked follow‑up questions about health‑care cost trends and procurement oversight.
