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Finance committee reviews preliminary budget gap, Prudent RX savings and $2M escrow for Ethan project
Summary
Staff reported a roughly $743,000 preliminary general‑fund deficit to be reduced before final adoption, described a new Prudent RX prescription rebates program expected to save $200k–$250k, and presented a development agreement with the township securing a $2 million letter of credit (reduced from $9.5M) for the Ethan Elementary project.
District finance staff presented the preliminary fiscal‑year 2026–27 general fund budget and related capital planning items to the Finance Committee.
Budget overview and fund balance: Staff reported a current estimated general‑fund deficit of about $743,000 and an ending fund balance just over $33 million (with portions committed to capital projects and an 8% unassigned contingency). Staff said they believe the deficit can be reduced through upcoming reviews and will present a proposed final budget to the board on April 7, with final adoption scheduled for May 26.
Revenue and expenditur…
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