Board acknowledges financial update, accepts SFCC assistance and approves draft 2026-27 budget
Summary
The board received a mid-year financial update showing receipts at about 60% and expenses at 44%, accepted an SFCC offer that increases bonding capacity, and approved a conservative draft budget for 2026-27 noting uncertainty from pending legislation; the board voted 5-0 on the draft.
Finance staff presented a mid-year financial update and a first draft of the 2026-27 budget, and the board accepted an SFCC (School Facilities Construction Commission) offer of assistance to help with annual debt-service capacity.
Alicia Ellis reported receipts at roughly 60% of expected and expenses at about 44% of the fiscal year to date, similar to the prior year. She said the draft 2026-27 budget is intentionally conservative because major legislative and tax-rate decisions remain unresolved; the draft rolls current allocations forward, includes step increases and preliminary position allocations to accommodate anticipated preschool expansion and other programs, and reflects a roughly 1.5% decrease in general fund totals driven mainly by reduced fund transfers tied to capital planning.
Ellis said the SFCC offer (periodic assistance that contributes to bonding capacity) should be accepted to support upcoming bond sales; the board voted to accept SFCC assistance and later approved the draft budget by a 5-0 vote. Staff described the draft as a starting point and said final budget decisions will depend on legislative outcomes and completed bond planning.
