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District projects $32.2M ending fund balance as enrollment trends moderate
Summary
The district reported projected 2025–26 revenues of about $432.5 million and expenditures of $437.3 million, anticipating an ending general fund balance near $32.2 million (7.3% of expenditures); staff noted slower K–5 enrollment growth and impacts from a state change to bus depreciation schedules.
Dr. Saltzman presented the Everett Public Schools third-quarter financial report for fiscal year 2025–26, saying the district now anticipates roughly $432.5 million in revenues and about $437.3 million in total expenditures, yielding a projected ending general fund balance around $32.2 million (about 7.3% of expenditures).
He explained enrollment is higher than the prior year but slightly below budgeted projections — particularly in K–5 — which affects staffing costs and revenue assumptions. Material supplies and service costs are projected higher than budget while staffing costs are trending lower in line with enrollment.
Dr. Saltzman reviewed the district’s four other comprehensive funds: the capital projects fund (funded by the capital levy and supporting Jackson Elementary construction), the debt service fund (which will vary with bond issuance), the associated student body fund (declining as student activity funds are used), and the transportation vehicle fund.
He described a legislative change from the 2026 Washington session that expanded the bus depreciation reimbursement schedule from 10 to 15 years, reducing the transportation vehicle fund’s estimated revenue in the near term. The district has three electric buses on order supported by a state grant, expected by August 2026.
Board members asked clarifying questions; the report was received as informational and no budget adoption occurred at the meeting (budget adoption is scheduled for first reading at the July 1 meeting).
