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Board hears budget priorities and FY25 year-end: fund balance rises but remains below two-month GFOA benchmark
Summary
Administrators outlined budget priorities — compensation, student supports, facilities, early childhood — and reported an FY25 fund balance of $10,655,333 after gain-share adjustments, noting the balance covers about one month of expenditures versus a two-month GFOA recommended reserve.
School leaders presented the division’s budget-development priorities and a fiscal-year-end close report showing modest reserve growth.
Doctor Gurley described a collaborative budget process and four priorities for FY 2026: staffing compensation and retention, student supports and achievement (including tier-3 literacy and restorative practices), facilities improvement, and expansion of early childhood education. She said the division will use stakeholder input and historical spending reviews as it prepares a round-number starting point for the joint city–school budget work session on Dec. 18.
Finance staff (Ms. Hoover) reported the FY2024 fund balance was $9,090,568 and after FY2025 adjustments the division’s fund balance is $10,655,333. She explained the gain-share formula that resulted in a $1,464,765 payment to the city for FY25; historically the city has reinvested gain-share receipts into CIP projects. The Government Finance Officers Association (GFOA) guideline cited in the presentation recommends a reserve of at least two months of expenditures ($16,139,429 for this division); Ms. Hoover said the current balance covers roughly one month.
Board members asked whether requested instructional-support positions would be new FTEs or reallocated staffing; administrators said they will review requests and consider repurposing positions where appropriate, with final FTE decisions coming after requests are vetted next week.
Ms. Hoover estimated federal funding contributes roughly $5–6 million to the division’s annual budget (including nutrition programs and Titles I/VI-B), and staff said if federal funds were lost midyear the fund balance would be used to cover obligations while staff formulates plans.
Next steps: the joint work session with the city on Dec. 18; rapid turnaround on internal budget requests; and additional board work sessions in January and February as the division refines the FY26 budget.
