Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
Elkhart board hears October finances showing $6 million reduction from prior projection; approves 2026 meeting schedule
Summary
The district reported a revised education‑fund receipts estimate of about $93 million (down roughly $6 million from prior projections), plans reduced transfers to operations, and the board approved the proposed 2026 meeting schedule and waiver of second reading.
Treasurer/Chief Financial Officer Miss Ross presented the October financial update on Nov. 25, telling the board the district's adjusted receipts projection for the Education Fund is about $93 million compared with an earlier projection near $99 million under the 1782 budget order — an estimated $6 million reduction in receipts. Ross explained that the district will limit transfers to the operations fund to stabilize cash and avoid a negative Education Fund balance: the administration originally projected the ability to transfer $9 million but now expects to transfer about $3 million.
Ross said October ending cash balances were approximately $3.5 million in the Education Fund, $3.1 million in the Operations Fund (helped by recent bond proceeds), and $6.7 million in the Rainy Day Fund, for a combined total near $13.0 million. She noted anticipated state tuition adjustments (ADM reconciliation) could reduce receipts further in November and December by roughly $900,000 each month and outlined savings initiatives and cost avoidance to date of about $3.3 million.
On related governance items, the board approved the proposed 2026 board meeting schedule and waived a second reading at the same meeting; Dr. Hough said the change would move regular board meetings from 7 p.m. to 6 p.m. with work sessions earlier (5 p.m.) to better accommodate staff and community schedules.
Next steps: The administration plans ongoing monitoring of tuition support adjustments and to continue implementing identified savings initiatives. The board took no immediate emergency action beyond approving the schedule and acknowledging the financial report.
