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District finance chief outlines reserves, enrollment and budget options as legislation looms
Summary
CFO Laura Huberger reviewed enrollment, DUAB fiscal indicators, the consolidated textbook rental balance and recommended bolstering rainy day and self-insurance funds; she warned pending legislation (referred to as Senate Bill 1 and local income tax proposals) could reduce district revenue, and proposed transfers of $500,000 to self-insurance and $1,000,000 to rainy day.
Laura Huberger, the district's finance lead (nominated and confirmed as treasurer at the meeting), presented a detailed financial review, highlighting enrollment, fund balances and risk from pending state legislation.
Huberger reported that district enrollment for 2024 was 10,361 with a second count of 10,300, and she explained that a prior consolidation of the textbook rental fund into the education fund explains a larger reported education-fund balance (the presentation showed an education-fund figure near $14,000,000 that is expected to decline by about $2,000,000 after planned textbook adoptions). Huberger also described a planned replacement plan for technology (~$4,000,000) that will draw on those balances.
On the budget, Huberger said the district has kept its property-tax rate historically at $1.10. She said the initial budget advertisement came in higher and she "moved it down to a dollar 15" to limit taxpayer impact while preserving flexibility in the appropriation. She warned that pending legislation (referred to in the meeting as "Senate Bill 1") and possible changes to local income tax distribution could reduce district revenue; one estimate cited in discussion was a potential $1.1 million loss in local income tax by 2028 under some scenarios.
To prepare, Huberger said the district plans to place $500,000 into the self-insurance fund and transfer $1,000,000 into the rainy day fund to provide buffers for rising insurance costs and potential revenue shortfalls. She emphasized the district is not in deficit financing across all funds and credited careful stewardship since 2019 for strong overall cash balances.
Trustees asked clarifying questions; the board did not take contested votes on these fiscal policies at the meeting beyond the approvals already recorded for routine items.
