Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Austin ISD reports $74.1 million unaudited deficit for FY2425; lays out three-year plan to restore fund balance
Summary
CFO Katrina Montgomery told trustees the district's FY2425 unaudited result shows a $74.1 million deficit and outlined a FY2528 plan combining spending controls, hiring freezes, property monetization and enrollment strategies aimed at restoring a 20% fund balance by FY2728.
Austin ISD's chief financial officer on Thursday told trustees the district closed FY2425 with an unaudited deficit of $74.1 million and presented a multi-year strategy to rebuild fund balance to 20% by fiscal 202728.
Katrina Montgomery said the district started FY2425 with an $78.2 million deficit projection that had briefly been modeled to grow to $110 million; the unaudited result reduced that gap to $74.1 million. Montgomery and staff attributed the fiscal stress to a set of factors, including a district-reported enrollment decline of roughly 3,000 students since budget adoption and property-value changes that reduced revenue.
“While we were projected to land at $110 million, our unaudited number is…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
