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District finance update: enrollment down ~470 FTE; board approves $500,000 short-term transfer
Summary
The district reported an estimated 470-student decrease in annual average FTE, lower-than-expected December levy receipts and tight fund balances. The board approved a $500,000 temporary transfer from Capital Projects to the Debt Service fund to cover bond payments until January.
Chief Financial Officer Ross told the board the district’s annual average FTE projection is down roughly 470 students, which reduces basic education revenue and tightens the general fund. Ross said special-education and CTE populations rose slightly but that the overall revenue decline is the dominant pressure.
Ross said December tax collections for levies were lower than trend and that debt-service receipts fell short after…
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