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Board hears financial update; approves inclusion in Oregon 457 deferred compensation plan
Summary
CFO Chris reported a stable fiscal picture with a projected positive ending fund balance and a potential $765,000 favorable state revenue variance; the board approved adding a 457 deferred compensation option for employees at no cost to the district.
The board received the monthly financial report from district staff, who said there were no major changes as the year winds down and noted opportunities to invest available fund balance in district needs.
Chris outlined steps to offer families an online payment system for fees and described recent minor capital work such as parking repairs for baseball/softball fields. Staff said they expect about $765,000 more in state school fund revenue than originally budgeted, and the district anticipates a healthy ending fund balance. Board members discussed whether to earmark surplus dollars for facilities, contingency, or other priorities; several recommended preserving a cushion while identifying priority facility projects.
On an employee benefit item, staff introduced a resolution to add the Oregon 457 deferred compensation plan as an option for employees. Staff said the 457 would have no cost to the district and is similar to existing deferred plans; participation is voluntary for employees and the program is administered through the state. The board moved and approved the resolution to include the district in the state’s 457 plan.
Board members asked for more detailed budget planning as they enter the budget season, including projections for PERS impact, contingency usage, and a prioritized list of small capital projects for public communication. The long‑range facilities committee will continue to collect contractor estimates and community and staff input for major capital planning.
