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Board hears tight FY26 projections after March financial report
Summary
At its April 22 meeting the St. Mary's County Board of Education heard a March financial report showing year‑to‑date revenues of $237 million, a projected small shortfall against budget, and anticipated overages for snow removal, fuel and utilities; staff said a categorical amendment will follow.
Ms. McCourt presented the district's March financial report and a year‑end projection showing the budget remains tight.
"On the revenue side, we have total revenues. We received a $237,000,000. Our balance is $62,900,000; we've received 79% of the revenues year to date," Ms. McCourt said, presenting the month‑of‑March figures. She said $760,000 in Department of Defense revenue is not expected this fiscal year and flagged cost pressures in snow removal, transportation fuel and utilities.
Ms. McCourt projected total fiscal‑year revenues of $299,400,000 against a budgeted $299,900,000 and estimated projected expenses of $294,600,000. She identified specific near‑term needs: roughly $300,000 for snow removal, about $250,000 for additional student‑transportation fuel, and an estimated $450,000–$550,000 for utilities.
Dr. Smith said the proposed budget submitted to the county includes planned use of fund balance. "The budget that we have proposed has built in, expenditures for anticipated fund balance ... being $6,000,000," Dr. Smith said, describing how the district has earmarked reserves for OPEB, bus driver retention and technology.
Board members and staff agreed a categorical amendment or transfer will be proposed to the county commissioners later in the fiscal year after final payments are known. Staff said final state aid numbers are expected in the first weeks of May and that this presentation was a snapshot in time.
The board did not take formal fiscal action at the meeting; members were informed that the budget will return for continued consideration and finalization in May.
