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Board accepts midyear budget revisions; Fund 10 forecast improves to about $2.2 million

Elizabeth School District Board of Education · January 27, 2026

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Summary

Finance staff presented midyear audit results and a forecast showing an improved Fund 10 position (beginning balance ~ $681,773; end-of-year forecast roughly $2.2 million) after expense realignments and projected savings; the board approved the midyear budget revisions by roll call.

Finance staff briefed the Elizabeth School District board on Jan. 26 about midyear audit findings, projected fund balances and cost-saving measures, and the board voted to accept the midyear budget revisions.

The finance presenter said draft audit work and a midyear true-up produced a projected beginning fund 10 cash balance of about $681,773. With cost-cutting and expense management implemented during the year, staff forecast Fund 10 ending cash around $2,200,000 for the 2025–26 school year.

"When they do release the draft from the final version ... they are expecting it to be $681,773 in fund 10," Finance Presenter (Unidentified 5) told the board, adding that expense realignments and utility/insurance reallocations were being assigned to school-level cost centers for greater transparency.

The presenter said the district expects approximately $1.5 million in cost savings this year and that those adjustments should improve the district’s fund ratio and stability into the 2027–28 school year.

After the presentation the chair moved to accept the 2025–2026 midyear budget revisions. The board took a roll call vote and recorded ayes; the motion passed.

Staff also noted an ongoing review of district real estate and facility use to identify the best long-term uses for district-owned properties and to address space constraints at Singing Hills (childcare/"the littles"), which could affect future capital or operational planning.

Next steps: administration will finalize the audit true-up, realign budgets in financial systems to reflect the midyear adjustments and continue district-level facility and real estate planning.