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Richfield board approves FY26 budget revision, trimming expenditures by about $2.27 million
Summary
The Richfield School Board approved a revised FY26 budget that increases projected general-fund revenue by $593,038 (to $90,300,424), reduces projected expenditures by about $2,270,000, and raises the projected general-fund balance to $24,174,233. The board voted to approve the revision on April 6.
The Richfield School Board voted April 6 to adopt a revised budget for fiscal year 2026 after a presentation from district finance staff.
Finance presenter (identified in the meeting as Craig) told the board the revised general-fund revenue is projected to increase by $593,038 to $90,300,424, primarily from adjustments to state-funded special education revenue and some federal funds. On the expenditure side, the district projected an overall reduction of about $2,270,000, driven by truing up salaries and benefits ($111,000 less in salaries and about $350,000 less in benefits) and lower purchase-service costs—chiefly reductions tied to special-education transportation and homeless/highly-mobile student transportation after contract adjustments and fewer eligible students.
The presenter said property-tax collections were reduced by abatements and unpaid tax amounts, which reduced local revenue by $304,000 in the revised projection. The revised budgets for other funds were described as mostly stable; construction fund spending is continuing under the 2017 bond-referendum program.
The finance presenter said the revision brings the district's general-fund balance to $24,174,233 at year-end and an unassigned fund balance of approximately 13.57% of expenditures (up from the previously projected 9.3%). The presenter also described a projected all-funds spending variance (largely construction-related) of roughly $635,000.
After board members asked clarifying questions about a roughly $400,000 increase in federal revenue and specifics on transportation and special-education reductions, Director Haley Tompkins moved to approve the revised budget and the motion was seconded and approved. The chair voted aye and the board adopted the FY26 revised budget.
Votes at a glance (items approved during the meeting): - Approve agenda — motion approved (unanimous, chair voted aye). - Consent agenda — approved (unanimous, chair voted aye). - Policy 6.11 (provision for alternative instruction) — approved on third read. - Annual budget revision FY25'FY26 (revised FY26 budget) — approved (motion by Director Haley Tompkins; seconded; chair voted aye). - District office enclosed-offices completion contract award (Brennan Construction, low bid) — approved (funded by 2017 bond/construction fund). - Donations acceptance (listed items including $5,000 Spartan Foundation) — approved.
Board materials available to trustees were referenced during the presentation; finance staff said the administration will present the FY27 proposed budget in May and seek formal adoption in June.
The board's vote on the revised budget was presented as an approval of the administration's recommended adjustments; no specific layoffs, program eliminations, or new spending commitments were adopted as part of the revision.
