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School board approves FY26 year-end allocations, carries $6.9M state bonus to FY27
Summary
The board approved the FY26 year-end schedule, carrying $6.9 million in state bonus funds into FY27, projecting $8.3 million in savings and allocating $7.0 million to support the FY27 starting budget with $1.3 million reserved.
The Chesterfield County School Board approved memo 089-26 on June 2, accepting the administration’s year-end summary and proposed allocations for fiscal 2026.
Chief financial staff reported a $6.9 million state bonus received for FY26 that must be carried into FY27 to fund planned bonuses when paid next year. Mr. Meister told the board the division projects about $8.3 million in net savings by year-end — driven by approximately $8.8 million in expense reductions offset by roughly $0.5 million in revenue reductions — and proposed allocating $7.0 million of those savings to support the FY27 starting position while reserving $1.3 million for future needs including possible bonuses or debt service. The board voted to approve the memo on a recorded roll call.
Board discussion was procedural; members asked clarifying questions and then approved the recommended allocations.
What’s next: the administration will carry the state bonus into FY27 for planned payments and will post final year-end schedules and reserve lists in board documents.
