Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget Finance topic
No spam. Unsubscribe anytime.
CFO: Normandy’s reserves remain above state minimum; board tables 2026–27 budget for review
Summary
CFO Carlton Brooks reported roughly $5.2 million in operating savings (about a 12.2% reserve through April) and cited expected receipts, including an estimated $1 million from St. Louis County and a recent $480,000 railroad payment. The board voted to table the proposed 2026–27 fiscal year budget to allow additional review.
CFO Carlton Brooks told the Normandy Schools Collaborative board on June 10 that the district’s operating funds showed roughly $5.2 million in savings through April, equating to about a 12.24% fund-reserve position — well above the state DESE minimum of 3 percent — though he cautioned reserves should be higher.
Brooks walked the board through month-end projections: if all May expenses were paid the district would still show reserves above minimums, and he described a set of expected incoming receipts that underpin projections, including an estimate of $1,000,000 from St. Louis County tied to county property tax receipts, protest/tax monies and the district’s share of a closed Bell Ridge TIF. Brooks also reported the district recently received approximately $480,000 in railroad-related receipts.
Board members pressed for clarity on whether the June projections could dip below DESE’s required reserve; Brooks said the projections in the packet show the district remaining above the 3% minimum and explained the estimate ranges used for the State Foundation Formula and other state distributions. Brooks also confirmed the district was awarded a $46,000 tutoring grant and is confirming vendor selection and invoicing steps with the state.
Because the board received the budget materials that day, several members asked for time to review the fiscal-year 2026–27 budget presentation. The board voted to table item 7.04 (the 2026–27 fiscal-year budget) to allow additional review and returned to the consent agenda.
What happens next: the finance office will continue to refine budget projections, provide requested backup and return with budget details for board consideration before the June 30 statutory deadline for adoption if necessary.
Provenance: CFO Brooks’ financial report begins with the year-to-date fund-balance presentation (SEG 658) and budget-tabling discussion and vote is recorded later in the transcript during item 7.04 (tabling motion concluding at SEG 1752).
