District posts $3M year‑end balance, board approves transportation budget extension
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Summary
Finance director Karen Casey reported a year‑end general fund balance of about $3.0 million and improved OSPI financial‑health projection; the board approved a transportation budget extension to cover a delayed bus delivery and related cost uncertainty.
The Port Angeles School District reported improved year‑end finances and took a procedural budget vote Dec. 11 as the board continues managing cash flow while advancing multi‑million-dollar construction projects.
Karen Casey presented the district’s 2024–25 year‑end financials, telling the board the district closed the year with an ending fund balance of roughly $3,000,747 and approximately $2.2 million in unassigned funds — about 13 days of operating cash on hand. The report, which Casey said will be submitted to the Office of the Superintendent of Public Instruction (OSPI), showed revenues and expenditures that led to a stronger position compared with the prior year and a projected OSPI financial‑health score improvement.
"Our ending fund balance was $3,000,747," Casey said while walking the board through revenues, restricted funds and allowances. She noted roughly $1.3 million of the balance is restricted to specific grants or uses.
In related action, the board opened a publicly advertised transportation budget hearing (no public comments were offered) and then approved a resolution extending the transportation vehicle budget from $172,000 to $225,000 to account for a delayed bus delivery and possible tariff or delivery cost changes. The district said the bus was expected in 2024–25 but delivery slipped and vendor timelines remain uncertain.
Why it matters: The district’s fund balance and liquidity affect bond ratings and future borrowing costs; Casey noted Moody’s bond‑rating considerations and that the district plans to sell bonds in the future. The transportation extension provides contingency so the district can accept the delayed vehicle without interrupting service or losing the unit.
Enrollment and service trends: Karen also presented enrollment trends (September–December counts) and FTE explanation; the district continues to monitor shifts in enrollment that drive state apportionment and budgets. Officials said Seaview Academy enrollment continues to grow and that enrollment fluctuations will be reconciled in January’s OSPI “true‑up.”
Next steps: Staff will continue monthly financial reporting and return with November financials at the board’s January meeting; procurement and construction budget impacts are tracked separately as capital projects move forward.