Geneva CUSD 304 reviews draft FY27 budget that projects $8.2 million fund-balance drawdown

The Geneva CUSD 304 School Board heard a full presentation of the district's draft fiscal year 2627 budget at its June 15 regular meeting, with district finance staff laying out assumptions, fund-level projections and key risks.

"So, good evening. As Dr. Barrett mentioned, I will be presenting the fiscal year 2627 budget for the district," Adrien Ramirez said as he opened the review, stressing that the plan is still a draft and final numbers will depend on receipts such as a large tax payment expected this week. Ramirez listed the budget's revenue assumptions as roughly 5% EAV growth, a 3.2% rise in local tax revenues, about $4.28 million in evidence-based funding and $7.9 million in new-construction value; the presentation also assumed a 4.2% investment return.

Ramirez said the district projects $125.66 million in total revenues against $133 million in total expenditures for FY27, "a plan reduction in fund balance approximately 8.2 million," which he attributed largely to planned capital spending and ongoing investments in staffing and student services. At the fund level, Ramirez showed the education operating fund budgeted at about $85 million in revenue and $88.2 million in expenditures (a shortfall driven by compensation and program investments), while the O & M fund was projected to run a surplus used to support capital needs.

Board members pressed staff on specific line items and risks. One trustee asked whether rising bus and fuel costs could force the district to defer bus purchases. Ramirez said the district evaluates purchase timing to preserve depreciation-based reimbursements and sometimes opts to buy used buses or delay purchases rather than buy new equipment at an unfavorable time. "If we don't think it's a good time to purchase, we won't," he said, adding the district explores multiple procurement options to limit reimbursement losses.

Ramirez outlined other fund projections presented to trustees: transportation revenue at about $4.5 million with expenditures near $4.9 million (partly because state transportation reimbursements have declined), a retirement fund projected roughly $3.3 million in revenue and $3.2 million in expenses, and capital projects initially estimated at $7.7 million in spending supported by a planned $7.9 million transfer from operating funds.

Ramirez closed by listing monitoring factors that could affect the draft, including inflation, utilities and fuel volatility, interest-rate movements, staffing vacancies, enrollment shifts and remaining year-end accounting. "These items will impact our fund balances and how we end the year," he said.

Next steps: the board will continue review through committee work and will consider the tentative budget next month as staff refine revenues and final invoices are processed.