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District reports 11.4% year‑end fund balance, warns of state funding uncertainty and unemployment assessment
Summary
Everett reported year‑end general fund balance of 11.4% and fourth‑quarter revenues of $328.4M, but finance staff and the superintendent warned that enrollment declines, transportation formula changes and unemployment pool assessments could create multi‑million‑dollar shortfalls; staff promised follow‑up detail.
The Everett School District finance team told the board on Nov. 24 that the district closed the fiscal year with general fund revenues and transfers of $328,400,000 and expenditures of $324,400,000, producing an ending general fund balance of 11.4% of expenditures. Ruth Floyd, who presented the fourth‑quarter report, said capital projects ending fund balance was $46,400,000 and the ASB fund balance ended at about $1,300,000.
Caveats and risks Chief financial officer Jeff Moore gave a four‑year fiscal outlook and emphasized that the district faces structural pressures: an underfunded…
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