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Finance director reports February balances, notes SB 1 uncertainty and paused rainy-day transfers
Summary
Director of finance Amanda Kuchar reported February fund balances (education fund cash approx. $10.2M versus $11.7M last year), explained property-tax timing for operating referendums, and said district withheld a planned rainy-day transfer in 2025 because of uncertainty around SB 1; staff will revisit transfers midyear as impacts become clearer.
Amanda Kuchar (S17), the district's director of finance, delivered the monthly financial update and highlighted expected revenue timing and fund balances.
Kuchar said the education fund's February ending cash balance was about $10.2 million, compared with $11.7 million at the same point last year, which aligns with budgeted plans to use a portion of cash balance this fiscal year. She noted operating-referendum revenue comes from property taxes and will begin to appear in May and June, so those revenues were not reflected in February results.
On the operations fund, Kuchar reported a relatively light revenue picture in February and more expense variability; year-to-date balances showed a modest improvement versus last year. For the safety referendum and rainy-day fund, she said the district had a small year-to-date negative balance in the safety fund but started the year with a higher balance than prior years; a one-time rainy-day expense was recorded related to changing the teacher-evaluation system and will be paid over multiple payments (about $54,000 additional to the rainy-day fund expected this year).
Kuchar and Mr. McMichael (S10) cited the district's decision not to transfer additional funds to rainy-day in 2025 as a precaution amid uncertainty around SB 1; they said staff will revisit transfer decisions midyear after more clarity on SB 1's impacts.
Board members asked whether transfers would occur this year; staff said they would monitor SB 1 developments and revisit the decision midyear.
