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Board approves final transfers for FY2026; contingency moves $200K for insurance and $350K to capital outlay
Summary
Jefferson West approved final budget transfers to close FY2026, including moving $200,000 to contingency for unanticipated health‑insurance costs and transferring $350,000 of custodial salaries to capital outlay; the district reported an expected July 1 cash balance of roughly $482,000 and outlined the revenue‑neutral notification timeline.
The Jefferson West board approved final budget transfers to close fiscal year 2026 and declared contingency moves to manage unanticipated costs. Finance staff reported that the district will start July 1 with approximately $482,000 in cash reserves and presented required transfers to zero the general fund per state rules.
Key transfers approved include $200,000 moved to contingency to cover unexpected health‑insurance costs and $350,000 moved from custodial salaries to capital outlay to close the year. Administrators explained that some special‑education obligations and last‑minute state recalculations have strained cash balances and that rebuilding a multi‑month payroll reserve will take several years.
The board was also briefed on the statutory timetable for the district's revenue‑neutral notice: the county must be notified by July 20 if the district intends to exceed revenue neutral; the board will review the budget in August and hold public hearings in September before any resolution to exceed revenue neutral is adopted.
Next steps: staff will bring the draft budget and any recommended adjustments to the August meeting, publish notices and hold the statutory hearings in September.
