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Superintendent presents revised FY2027 budget after $2.13M revenue shortfall; approval delayed
Summary
A presenter outlined revisions to the FY2027 budget reflecting a $2,132,419 revenue decline and a $62,878 rise in expenditures, producing a $14,609,665 ending fund balance; members did not approve the item and directed staff to schedule a special meeting before July 1.
A presenter reviewed revisions to the fiscal year 2027 budget, saying new information produced a $2,132,419 decrease in projected revenues and a $62,878 increase in expenditures.
"The new expenditure total would be $274,457,204," the presenter said, adding that projected revenues would remain $257,329,547 and that the revised ending fund balance would be $14,609,665.
The board opened the item for motion and debate. A motion to advance Item B was made on the floor but was subsequently withdrawn to allow discussion. Mr. Bailey was acknowledged as having seconded the motion before the withdrawal.
Board member Mr. Johnson pressed staff on the scale of the shortfall and the longer-term implications. He asked how much revenue would be needed to restore the original balance; the presenter replied that the difference between the original recommendation and the revised balance was "about $4.5 million." The presenter cautioned that the more consequential issue was the budget's effect on fiscal year 2028, not just FY2027.
Members also referenced a prior recorded vote on the item, which was reported as one in favor and four against, meaning the item did not pass earlier. Because a legally required budget must be in place before the July 1 start of the fiscal year, members directed staff to set a special called meeting to resolve the matter. Dr. Bradley said, "The date to be determined. We just need a little bit more time. We expect to be able to share that information in the next 24 to 48 hours."
The meeting did not record a final approval for Item B; members instructed staff to return with a date for the special meeting and further information about the budget implications for FY2028.
