Finance staff report: revenues ~$430M, expenditures ~$435.1M; fund balance projected at 7.3%
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Summary
The district’s finance director reported first‑quarter FY24‑25 projections: revenues roughly $430 million, expenditures about $435.1 million (within board authorizations), a projected fund balance of 7.3%, and potential federal funding uncertainty if House appropriations move forward; about $35M remains to be spent on Jackson Elementary.
Miss Tress delivered the district’s first‑quarter financial update for FY24‑25, reviewing the general fund, capital projects and other comprehensive funds.
Key figures presented: projected revenues approximately $430,000,000; projected expenditures approximately $435,100,000 (both within board‑approved authorizations); and a projected fund balance of 7.3% of total expenditures (up from the adopted budget assumption of 7.0%). Miss Tress said enrollment is slightly higher than the prior year but slightly lower than budgeted expectations and that staffing was aligned to enrollment to capture some salary savings.
On capital and debt: the capital projects fund is on trend with major project plans; Jackson Elementary still has roughly $35,000,000 in remaining expenditures. The district reported just under $70,000,000 remaining in outstanding bonds in the debt service fund.
Federal and state budget context: the finance presentation noted uncertainty in federal appropriations for FY2026 with House proposals that could reduce Title I, Title II and Title III funding while the Senate proposals are more stable; state proposals include changes that affect transportation depreciation and possible reductions to certain program caps. Miss Tress said the district will plan conservatively until budgets are finalized and will work with legislators on priorities.
Other items: the district anticipates purchasing three electric buses this year with a state grant and said charging infrastructure is in place. Associated Student Body fund and transportation vehicle fund trends were also summarized.
Ending: Board members discussed the possible policy impacts of state budget proposals and encouraged continued legislative engagement. The district will incorporate evolving state and federal budget information into future planning and report back as details firm up.