Everett district——reports small revenue uptick and rising special-education costs; capital projects continue

Finance staff presented the Everett Public Schools second‑quarter fiscal update for 2025‑26 and addressed board questions about fund balance timing, special‑education expenditures and capital spending.

Key figures: the presenter said the district is increasing its projected revenues by $1,200,000 from January projections due primarily to a safety‑net claim. Projected ending general‑fund balance remains approximately 7.3% of total expenditures, unchanged from January. The finance presentation noted capital projects (Jackson Elementary and Madison renovations) are driving capital fund spend and the district plans to purchase electric buses using a state grant; estimated state depreciation revenue cited was about $300,000.

On special education, finance staff said enrollment and the intensity of services (including many 1:1 supports) are outpacing overall enrollment growth. The presenter estimated an average incremental cost of about $20,000–$25,000 per student for special‑education services above typical per‑pupil costs.

Directors asked about a June dip in fund balance driven by state revenue timing, whether S&P Global——had affected the district rating and the effect of lengthened bus depreciation on transportation funding. Finance staff explained revenue timing (tax receipts concentrated in October and April) and that changes to depreciation schedules reduce depreciation revenue to the transportation vehicle fund but have a smaller net effect for Everett because the district outsources most transportation.

Policy action: Larry Fleckenstein introduced proposed revisions to Policy 6570 (Property Records), including raising the tagging threshold from $5,000 to $10,000; the board agreed by general consent to send the policy to a second reading.

Ending: board members requested continued monitoring of fund‑balance timing and SPED spending as the budget development process continues.