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Board approves FY2025 financial health report and sets $223,000 ceiling for hourly wage adjustments
Summary
The board approved the year-end FY2025 financial health report, which showed improved solvency and cash positions, and the finance committee set a $223,000 ceiling to allocate toward hourly wage adjustments as the district works to reach target employee-cost ratios.
The Fairfield Community School District board approved its FY2025 financial health report on Sept. 15 after a presentation from district finance staff. The presentation showed year-end cash of $6,342,370 (about 109 days of operating cash), a solvency ratio of 17.23%, and an unspent authorized budget (UAB) of 18.38%. Board goals are UAB and solvency between 15–20% and 90–120 days net cash.
District staff highlighted progress from FY2024 to FY2025: the employee-cost ratio rose from about 64.6% to 72.44% and teacher wage distribution increased (teacher share of wages rose to 60.9% of wage dollars). The finance committee recommended an upper bound of $223,000 to be allocated to hourly workforce wage adjustments for FY2027 and into FY2028, intended to reduce turnover and move the employee-cost ratio toward a 75–80% target.
Finance staff said retention improved from roughly 72% to about 82% since leadership changes, and that further compensation work will be phased into future budgets and negotiated with the union. The board discussed that some items are contingent on FY2026 budget alignment and collective-bargaining work and noted FY2028 projections show variability under current assumptions.
Separately, the board approved a request to seek allowable growth and supplemental aid to cover a special-education deficit of $830,630.80. Staff explained that special education is the state-allowed category where districts commonly run a deficit and then petition the state’s school budget review process for additional authority.
Board members praised the administration and finance team for the improvements and emphasized sustaining progress while addressing remaining gaps. The motion to approve the financial report carried with a recorded opposition noted by a board member; the transcript does not name which director opposed.
