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Hopkins projects $5–6 million shortfall for FY27; board told to expect reductions and CFAC review
Summary
Interim CFO outlined an initial FY27 forecast showing revenue increases that do not match projected expenditure growth; district leaders projected a $5–6 million reduction need and said they will work with the Citizens Financial Advisory Committee and school leaders on modeled cuts and timeline leading to May/June board decisions.
Hopkins School District officials presented a preliminary FY27 budget forecast March 17 that projects a multi-million-dollar gap as rising expenditures outpace modest revenue gains.
Interim CFO Jessica Olson said state aid is currently projected to increase about 2.69% while compensatory aid is down roughly $200,000; at the same time, the district is modeling assumed expenditure increases of about 5% for salaries and benefits…
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