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Preliminary 2026–27 budget reviewed; auditors reported no deficiencies and fund balance discussed
Summary
Finance committee presented preliminary budget figures; auditors reviewed the 2024–25 financials and, according to administration, reported no deficiencies. The board heard that the district’s fund balance stood at roughly $7.44 million (about 7.8%), below the 8% target.
The board’s finance committee briefed members on the preliminary 2026–27 budget during administrative reports and encouraged continued review of revenues and expenditures.
Mike (finance presenter) said revenue and expenditure numbers remain preliminary and that department-level reviews are ongoing. He told the board auditors had reviewed the 2024–25 budget and that the district received a report with no deficiencies noted, which the administration said positions the district favorably for potential borrowing.
On reserves, the administration reported a fund balance of roughly $7.44 million at the end of the last fiscal year, representing about 7.8% of budgeted expenditures; board members noted the recommended target is 8% and discussed options to restore the balance, including revisiting expenditures and considering bond options.
Board members asked for follow-up detail on revenue assumptions, timing for local revenue estimates, and the next steps for bringing a final budget forward; administration said final local revenue figures (the 'merkantel' or local revenue estimate) will be available by mid-April and that staffing and expenditure finalization will continue through committee review.
