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CFISD budget update: deficit narrowed to ~$33.7M; board approves refunding bonds
Summary
CFO Karen Smith told the Cypress‑Fairbanks ISD Board that one‑time audits and interest income reduced the district's projected 2025–26 deficit from $45.5M to about $33.7M; the board also authorized issuance of unlimited tax refunding bonds, Series 2026A.
Cypress‑Fairbanks ISD finance staff told the board on March 2 that the district's previously adopted $45.5 million deficit projection for the 2025–26 general fund has been reduced by a combination of audit adjustments, interest income and other items to an estimated $33.7 million shortfall at year end.
CFO Karen Smith outlined components affecting revenue and expenditures: state aid changes driven by House Bill 2 produced model estimates that increased district revenue (CFISD’s estimated HB2 gain noted as about…
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