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Austin ISD CFO: fund balance target steady but FY25–26 deficit widens to $49 million
Summary
CFO Katrina Montgomery told trustees the district targets a 15% unassigned fund balance but now projects an adjusted FY25–26 deficit of $49 million, citing $54M revenue declines, $56M recapture decreases and a $28M swing from delayed property monetization; near-term savings of $34M (including a $12M hiring freeze) were proposed.
Katrina Montgomery, Austin ISD’s chief financial officer, told trustees on March 26 that the district maintains a 15% fund-balance target but faces increasing budgetary pressure for FY25–26.
Montgomery said the district projects about $182 million in total fund balance, roughly $140 million of which is unassigned, and reiterated the board-approved target of approximately 15%. She said the district’s adopted FY25–26 budget initially assumed a $19 million deficit but…
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