Thomas Charter board approves second interim budget, projects modest deficit and strong reserves

The Thomas Charter School Board unanimously approved the 2025–26 second interim budget at its March 9 meeting after a presentation by the district business office and a period of questions.

A business-office presenter summarized the report, saying the district was "projecting $28.2 million in revenues for 2026–27" while forecasting about $31.0 million in expenditures and roughly $2.3 million in planned capital outlay. The presenter said salary and benefits make up roughly 73 percent of overall spending (about 79 percent if facility projects are excluded) and that the projected ending fund balance is about $24.3 million. The presenter also said the district may need to identify roughly $488,000 in ongoing reductions to balance assumptions going forward.

Board members asked for details about how oversight fees with the authorizing district are calculated and how reserves are composed. One board member noted that the MOU oversight fee charged by Natomas Unified is assessed on site-based ADA and that oversight receipts for the three charter schools in the authorizer total roughly $1 million; the business-office presenter said the district’s arrangement charges a site-based 2 percent fee on applicable revenues and that those amounts are reflected in the budget presentation.

Administrators emphasized that the state May Revise (scheduled May 21) will be used for final budget assumptions and that the interim report reflects current projections rather than final adopted numbers. After the exchange the board moved, seconded and approved the second interim budget on a roll-call vote.

Board chair called the budget a routine but important compliance step; staff said the report will be submitted to Natomas Unified and the county office as part of standard oversight processes.

The board also approved routine consent items and a calendar of 2026–27 meeting dates during the same session.