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Presenter: District projects $1.3 billion deficit but general-fund reserve remains about $4.6 million
Summary
At the meeting the district's finance presenter summarized draft, audited financials and said the district is projecting a deficit of $1,300,000,000 while reporting a general-fund balance of about $4,600,000 (21.7% of revenues). The report is under audit and staff invited follow-up questions.
At the school board meeting, the district’s finance presenter (Presenter, S3) summarized the district’s draft annual financial statements, which are currently under audit. He said the consolidated draft shows what he described in the transcript as "a deficit of $1,300,000,000," and urged board members to focus on net-change figures and fund-balance metrics.
The presenter said the general-fund projection is about $4,600,000 for the coming year, down from roughly $4.85 million the previous year. He reported that the projected general-fund balance represents 21.7% of general-fund revenues and, excluding estimated restricted funds, about 19.5%.
The presenter described the report as a multi-year summary across funds — including debt service and food service — and said historical-year comparatives are included in the packet. He emphasized that the draft is under audit and invited board members and the public to contact him for more detailed questions.
Board discussion touched on personnel and contract details later in the meeting, but the financial presentation concluded without a recorded vote or formal action; the presenter repeated that the numbers are draft figures subject to the ongoing audit.
The board did not take formal action on the financial report during this meeting; the presenter asked that questions be directed to him as the audit is finalized.
