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Mehlville board reviews revised $45M capital plan and adopts FY26 budget adjustments after $2.6M formula drop
Summary
CFO Marshall Crutcher presented a re-scoped FY26-28 capital plan reduced to about $45 million and explained FY26 budget adjustments reflecting a roughly $2.6 million state formula revenue decrease, offset in part by deferring a $1.9 million transfer; the board approved adjustments 7-0.
The Mehlville R-IX Board of Education on May 14 received an update to the district's fiscal-year 2026-28 capital plan and approved FY26 budget adjustments after administrators reported a drop in state formula revenue.
CFO Marshall Crutcher said the capital plan's summary estimate had moved from about $50 million to roughly $45 million as staff refined estimates and project specifications. "We put in a many staff put in a lot of work to get the ball rolling on all these green shaded projects," Crutcher said, noting green shading indicates projects with bids or firm estimates and other line items remain preliminary.
On the budget adjustments, Crutcher reported a state funding (foundation formula) decrease of about $2.6 million since the February adjustment. To soften the impact, administrators elected not to transfer $1.9 million from the general fund to the capital fund, producing a net operating loss of about $700,000 for FY26. Crutcher said the $7.5 million reduction shown in the adjustments column on the expense side reflects timing of capital payments rather than eliminated projects: "The $7,500,000 is not going away. Just means we won't pay it this year. We'll pay it next year."
Crutcher also pointed to the district's cash reserve history, noting the district has maintained a cash reserve percentage above 30% for eight consecutive years, which board members said provides flexibility in lean years. After discussion, the board voted 7-0 to approve the FY26 budget adjustments.
What this means: The district will move forward with projects that have approved bids while delaying some capital expenditures into the next fiscal year; administrators said the district still expects to complete planned projects but will time payments to match contractor billing and cash-flow realities.
Next steps: Staff will return with an updated capital plan and project bid recommendations at future meetings, and financial staff will continue monthly updates on capital and budget status.
