Three Rivers Local board approves FY2026 budget and three-year forecast amid tax-collection shortfall
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Summary
The Three Rivers Local Board of Education approved its FY2026 budget and three-year forecast Feb. 10 after a treasurer’s report showing slower-than-expected property-tax collections, rising outplacement costs and planned capital projects including track and turf replacements.
The Three Rivers Local Board of Education on Feb. 10 approved its FY2026 budget and three-year forecast after a presentation from the district treasurer outlining revenue timing problems and several large upcoming capital needs.
Treasurer Mrs. Riesenberg told trustees that property-tax collections so far this year are far below the district’s typical January receipts — about $500,000 to date compared with the several million dollars the district would normally expect — forcing the district to request advances and draw down savings to meet payroll and obligations. "Collections have been very slow," she said, adding that some residents may have delayed payments pending possible state adjustments.
The treasurer identified a recent change in state appraisal scheduling and a legislative change to utility valuations as key uncertainties. "House Bill 15 is changing the valuation" for the local power plant and is likely to reduce public-utility tax revenue beginning in 2028, she said. The timing and dollar effect of those shifts are not yet known.
On the expense side, trustees were told the district expects to pay $256,000 in severance related to retirements this year and continues to see upward pressure from purchased services, especially student outplacements. "Some of these [outplacements] are double, even tripled what they are when I started," Mrs. Riesenberg said.
Capital projects on the near horizon include a full track replacement and new turf. Board discussion referenced a range of estimates: combined track and related work and turf replacement could fall in the hundreds of thousands up toward roughly $750,000–$950,000 for both items combined, with turf cited as up to about $500,000 in 2028. The district’s permanent improvement account currently holds roughly $360,000; the treasurer said the board will need to either increase annual transfers or identify other funding to cover these projects.
The board also approved depositing two safety grants into the budget: a $5,000 school-bus safety grant and an $8,992 (and change) school-safety grant applied for by district staff. The board established a 2026 board service fund at the state-allowed maximum of $20,000, though trustees noted the district historically spends far less.
Board President moved to approve items a–d in the treasurer’s report, including the FY2026 budget and amended appropriations; the motion was seconded and trustees recorded verbal affirmative votes. The treasurer said she will monitor revenues and report monthly and does not plan to submit another forecast update to the state before May unless there is a material change.
Next steps: district staff will continue to refine revenue estimates as state guidance and settlement statements arrive and produce more precise cost estimates for the track and turf projects before the board considers specific capital-authority or debt actions.
