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Superintendent outlines budget cycle as finance director flags slower enrollment, projected 7.3% fund balance
Summary
Superintendent Saltzman reviewed the district budget development timeline and the finance presenter reported March financials showing a projected general fund balance of about 7.3% of expenditures, slowing enrollment growth, and legislative changes (reduced transition‑to‑kindergarten slots and Running Start adjustments) that could affect revenues.
At the April 21 Everett School District board meeting, Superintendent Doctor Saltzman and district finance staff provided the board and public with the district’s budget development timeline and a March financial update.
Saltzman said staff will present a draft budget for board review on July 1 with final budget approval expected in August. He described the Synergy student information system launched earlier in the school year as the district’s centralized platform for student data and scheduling work that will inform enrollment and revenue projections.
The district’s finance presenter (referred to in the meeting as Andy) reviewed March data, highlighting that annual average student enrollment (FTE) is growing more slowly than expected and that the district adjusted revenue projections accordingly. The presenter said projected fund balance remains approximately 7.3% of total expenditures, slightly above the district’s adopted 7% target, with March typically a low point for the fiscal year before property tax collections in April.
The presenter summarized impacts from the recent legislative session: a reduction of approximately 45 slots in the transition‑to‑kindergarten program (TTK) that could reduce locally provided half‑year classrooms, a reduction in Running Start revenue allocation (from a 1.4 to a 1.3 model), cuts in some beginning‑educator support grants (estimated roughly $45,000) and a freeze on national board bonus cost‑of‑living adjustments. He said some savings may be achievable through material and operating cost reductions and attrition, but staff anticipates possible reductions in the 2027–28 fiscal year depending on legislative and bargaining outcomes.
Board members asked for clarifications about which accounts support specific capital projects and how changes in state funding affect program slots. The finance presenter said the capital projects fund is supported by the 2022 capital levy rather than bonds and that current capital spending (notably Jackson Elementary) is drawing down capital fund balances consistent with the multi‑year plan. The presenter also reported approximately $170 million in outstanding bonded debt.
No formal budget adoption occurred at the meeting; the presentations were informational and staff will bring subsequent updates as draft budgets are prepared and negotiations proceed.
