Treasurer warns COPs payments and turf replacement will strain PI fund starting 2028–29

The district treasurer presented the monthly financial update and the five-year forecast, telling the board that year-to-date revenue collections are slightly above projections while expenditures are modestly higher, producing a net favorable variance of about $92,000 to the forecast through March.

Key numbers: the treasurer said year-to-date revenue collections were approximately $145,000 above estimates while year-to-date expenditures were about $53,000 higher, producing an overall favorable variance of roughly $92,000. Cash-balance modeling shows the district is close to forecasted results for FY26 but the treasurer stressed the PI fund's sensitivity to the proposed capital financing plan. Under the administration's 1% EIT + $120M borrowing scenario, the treasurer projected COPs debt service (the presentation assumed a $15M COPs payment tied to Buckeye), plus an estimated turf replacement of roughly $600,000, would create multi-year PI deficits beginning around 2028—2029.

Spending controls and calendar: the treasurer reiterated a strict purchase-order cutoff (no purchase orders accepted after May 15 unless dated July 1) to ensure year-end integrity and summarized the timeline for final appropriations (target: June 23). The board was shown an investment portfolio of roughly $30 million and told that portfolio yields have moderated from a year ago.

Why it matters: the finance presentation framed the facilities plan's affordability, showing that while short-term operations remain manageable, the PI fund will face sustained stress once debt-service obligations begin. The treasurer urged conservative planning while staff refine project costs, bond/COPs sizing and schedules.

What's next: the treasurer will continue monthly forecasting, provide updated estimates once the district receives a GMP and bond sale details, and present final appropriations and the formal five-year forecast at the June meeting.