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Board hears FY26 finance report: $36.5M fund balance, timing pressures and reserve use discussed
Summary
Chief Financial Officer Byron Jones reported a $36.5 million fund balance, timing shortfalls in state/federal draws, and investment returns; trustees discussed that reserves were used to balance prior budgets and asked staff to clarify the purpose and limits of fund balance.
Byron Jones, the district chief financial officer, presented the second financial report for FY26 at the Sept. 23 board meeting, reporting a $36.5 million fund balance, a temporary negative timing position of about $5.9 million for state and federal grant draws, and modest nutrition fund surplus activity.
Jones said investment returns average about 4.3% on the district's invested balances. He explained that cash flow is seasonally constrained before property tax receipts arrive later in the calendar year and that reserves help avoid short‑term borrowing such as tax anticipation notes.
Board exchange and reserves Board member Zachary Holmes told the board that "we used $11.5 million recently to balance our budget," and emphasized that the fund balance is not an unrestricted slush fund; Jones agreed that the fund balance is intended to provide a cash float during low‑revenue months and avoid borrowing costs.
Why it matters Trustees said fund balance narratives matter for public trust and budget planning. Jones noted that some grants (pre‑K) are pending state DOE draws and that expenditures will be matched to grant draws when approved.
Next steps Trustees requested greater public communication about the purpose of reserves and how one‑time draws were used to balance prior budgets; the board also heard facilities and construction updates later in the meeting and then moved on to other agenda items.
