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District financial review: March showed modest enrollment gains and a $5.7 million general fund balance
Summary
Ruth Floyd told the board the district’s March annual average enrollment figure was reported as "4006 663" (stated to be 59 over budget and 27 above last year) and reported a general fund balance of about $5.7 million (roughly 6.5% of revenues); Floyd explained monthly enrollment true‑ups that influence funding.
Ruth Floyd presented the Stanwood‑Camano School District’s March financial review to the board on May 6, reporting that the district’s annual average full‑time‑equivalent enrollment for March was stated as "4006 663," described in the presentation as 59 students over budget and 27 above last year. "Our annual average FTE in March, enrollment was 4006 663, which was 59 over budget, and 27 above last year," Floyd said.
Floyd told the board the general fund balance is about $5.7 million, which she said represents roughly 6.5% of total revenues. She also reported capital projects at about $5.5 million and described the food service program as having higher revenues than the prior year despite lower breakfast participation; Floyd noted part of that comparison reflects a one‑time supply‑chain assistance payment of about $150,000 that was recorded last year.
On funding mechanics, Floyd explained that state enrollment‑based funding is based on the current year’s annual average enrollment and is trued up beginning in January, when the state has a five‑month average to restate funding; after January, funding is restated monthly as additional months are added to the average. She said that the district typically sees fund‑balance increases in April and May because of tax collections and that funding may decline later as enrollment measurements change.
Board members asked how enrollment declines in spring affect the next year’s funding; Floyd replied that the monthly true‑up process can change current‑year funding but does not necessarily dictate next fall’s enrollment. Directors praised the clarity of the report and asked follow‑up questions about specific funds such as transportation and debt‑service collections.
The board accepted the financial report as presented and proceeded to the consent agenda, which passed unanimously. The meeting later moved into an executive session to review an employee’s performance and scheduled a public study session on artificial intelligence at 3:00 p.m.
