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Finance director warns of enrollment decline and cash‑flow timing; board accepts May financial report
Summary
LRSD financial staff reported awaiting tax deposits, higher investment income, and an average‑daily‑membership decline of 679 students that administration estimates could reduce state funding by about $11 million; trustees accepted the May 2026 financial report.
Finance staff presented the May 2026 financial report, noting the fiscal year closes June 30 and that the district was awaiting certain large June tax deposits (one noted at about $3.7 million). The presentation said some revenues were slightly below projection but investment income exceeded expectations, and staff described standard cash‑flow timing risks during July–August when state foundation funds are not received.
The presentation included an enrollment (ADM) analysis: staff reported an ADM change of 679 for the year and estimated that the resulting reduction in state funding could be roughly $11 million for the following year. The finance presenter said salary and benefit savings and other expense adjustments are expected to offset some near‑term shortfalls, and cited operating fund and capital improvement fund balances ($48M and $32M as of May, respectively) that provide near‑term flexibility.
Board members asked for a detailed breakdown of Title funds and asked when an audit of special‑education spending would be available; staff promised more detailed Title accounting and an audit update by the August work session.
The board moved, seconded and approved acceptance of the May financial report. The motion carried by voice vote.
