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Board hears budget update projecting roughly $2 million in excess, with earmarks for roof and lights
Summary
A finance update reported about $2 million in preliminary excess for FY24 after transfers; board members discussed earmarked funds for a MIP roof, field lights and staffing costs, and staff said they will finalize numbers after enrollment is confirmed.
At the meeting Sarah (finance presenter) gave the board a July snapshot while she continues to close out fiscal year 2024. She said preliminary closing work suggests the district will have roughly $2 million in excess after moving some expenses to other funds and accounting for known commitments.
Sarah told the board the district has committed $500,000 for the MIP roof project and has an initial payment for field lights factored at about $240,000. She said the district is currently operating with roughly 17 employees above formula funding and estimated those positions could amount to about $1 million in additional cost above funding; after accounting for those obligations she estimated a working cushion of approximately $260,000.
Sarah cautioned the board that enrollment figures will affect final funding levels; she said final counts will be clearer after all students are in buildings next week. The presentation included a historical expenditure comparison and preliminary vendor encumbrances; payroll encumbrances had not yet been posted for the fiscal year.
Board members and staff discussed options to manage costs, including reviewing the child nutrition program and procurement to limit waste. The presenter said she is continuing to finalize FY24 close and will return with a more detailed report and breakdown of encumbrances and expenditures once the closing work is complete.
