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Treasurer warns five-year forecast shows pressure; October financials include large outliers
Summary
Treasurer Scott reported October numbers showing a general-fund/emergency-fund October deficit of $517,000 but year-to-date surpluses; he presented a five-year forecast using a conservative 30% reappraisal assumption and projected fund-balance pressure by FY2029; the board approved the forecast.
Treasurer Scott presented the district’s October financials and a five-year forecast, and the board approved the forecast by roll-call vote.
Scott told the board the October deficit for the general fund and the emergency fund was $517,000, while year-to-date those two funds showed a surplus of a little over $1.6 million. For all funds, he reported a $537,500 deficit for October and a year-to-date surplus of roughly $1.2 million. He identified significant one-time expenses: Johnson Control repairs of about $52,000 (to be reimbursed by insurance) and a roughly $21,000 fuel purchase.
On the five-year forecast, Scott said he used a conservative 30% reappraisal estimate (county estimates ranged from 30% to 35%). He described assumptions built into the forecast — 2.75% salary increases through 2027, a 12% health-premium assumption, and the purchase of one bus per year to update the fleet — and warned the district’s fund balance could be under pressure by FY2029 under current assumptions.
“Reappraisal was going to be anywhere between 30 and 35% … so I use 30,” Scott said. Board members praised the presentation and formally approved the forecast at the meeting.
District staff said they will continue monitoring cash flow, timing of state foundation payments and tax advances, and any expense outliers that could affect multi-year solvency.
