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Board hears $1 million FY26 carryover and projects $900,000 in new state funds for FY27; 4% raise would require local additions
Summary
Finance staff told the board a tentative FY26 fund balance of about $1,000,000, carryovers of roughly $230,000 (federal) and $2.1 million (local), and an FY27 projection of about $900,000 in additional state funds; staff said achieving a full 4% pay increase would leave an estimated local shortfall of roughly $116,000 after state funds.
Ms. Soares and Dr. Stribling presented the budget outlook for FY26 closeout and the preliminary FY27 projection during the July 8 meeting.
Dr. Stribling said staff currently project "we're thinking we're gonna be around 1000000 dollars in fund balance" for FY26, with about $230,000 in federal grant carryover (primarily special education) and roughly $2,100,000 in local carryover tied in part to Abrams project timing.
On FY27, the pair said updated state tools indicate roughly $900,000 in additional state funds for the division. "The biggest increase is for compensation of about another $345,000, to do an additional 2%," Dr. Stribling said, describing how funding is allocated for compensation increases. Staff cautioned the state program requires 4% in each year (FY27 and FY28) to qualify for the full funding.
Officials told the board that an additional 1% beyond the division's current local budgeting would cost roughly $460,000; after applying projected state aid, staff estimated the division would need to identify about $116,000 locally to fund that extra 1%.
Board members asked whether pausing certain federal reimbursements to preserve maintenance-of-effort (MOE) status would jeopardize future access to funds; staff said they had paused some reimbursements for FY26 to ensure compliance and that they expect more definitive numbers next month once outstanding encumbrances, payroll and reimbursements are cleared.
Members agreed to place the compensation planning and any required contract addenda on a forthcoming agenda so the division could make payroll adjustments in time for the next pay cycle if the board decides to proceed.
