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Prosper ISD finance chief gives 'first look' at 2026–27 budget showing working $14.5M deficit and annexation risk
Summary
In a budget 'first look' to trustees, Miss Croix reported a preliminary 2026–27 working budget projecting $419M in revenue against $433M in expenses—a $14.5M working deficit—flagging that a pending annexation could add as much as ~$30M in debt and that numbers will be refined before adoption.
Prosper ISD’s finance lead presented a preliminary budget “first look” Monday, telling trustees the district currently projects a working deficit for 2026–27 while flagging an annexation that could materially increase debt obligations.
Miss Croix told the board the district’s investment portfolio balance through February was $778,500,000 and that the general fund had collected $273,000,000 of an expected $397,800,000 in revenue (about 68.69%). Through the same period the district had spent $227,300,000 of a $427,000,000 general fund budget (53%).
For the preliminary 2026–27 working budget, Miss Croix said the district currently projects $419,000,000 in revenue against $433,000,000 in expenditures — a working deficit of about $14.5 million. She cautioned that the slide was a "first look" and that numbers will change as tax values, enrollment figures and vendor contracts are finalized.
"This is a working budget," Miss Croix said. "These numbers will change ... next month we'll look at near final, and in June we will present and hopefully adopt the budget for the 2026–27 school year."
She highlighted several identified savings and adjustments that have tempered the gap: delaying the opening of Watkins Middle School (estimated savings $10,000,000), department budget reductions totaling $3,200,000, pausing some capital improvements, and an electricity contract with CoServ projected to save roughly $215,000. She said some departmental budgets rose because of contracted costs and inflation (insurance, utilities, custodial contracts and crossing guards) tied to opening new buildings.
Miss Croix also flagged an important contingency: a pending annexation the district is monitoring that "could be upwards of $30,000,000 added to our debt," adding that projected expenses do not include that potential cost. The district plans a near-final budget in May, adoption in June and tax-rate action in August once property-value certifications are complete.
Trustees asked clarifying questions about the timing of projected revenue and how the district is accounting for enrollment growth; Miss Croix said she is budgeting conservatively (2% enrollment growth) and emphasized that audited, final numbers will be available with the Annual Comprehensive Financial Report in October.
The board did not vote on the budget Monday; the session was a public update in the board’s budget adoption timeline.
