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Board hears FY2027 budget update; staff says extra state/county funds and health-plan savings fund approved positions
Summary
Staff told the board the division's adopted $112.09M budget gained $1.267M from state action and about $4.58M more from county appropriation than requested; a change in health insurance plan reduced a projected $1.0M cost by about $752,110, allowing full funding of previously approved new positions and a planned partial reversion to the county.
School division staff presented a revised FY2027 budget and supporting financial reports at the July 9 meeting, telling the board the previously adopted $112,090,574 plan improved after state and county changes.
The presenter said the General Assembly increased its compensation line (raising the state contribution and moving the state's SOQ pay increase from 2% to 4%), yielding an additional $1,267,000. The county increased its contribution beyond the division's request: staff had asked for $7,150,000 and reported the county approved an extra $4,579,000. Division staff said those increases, together with health‑insurance savings after switching plans, allowed the district to fund all previously approved new positions.
On health insurance, staff reported earlier projections had assumed a claims‑only plan and estimated a $1.0M additional need; after adopting the TLC plan and completing open enrollment, the district does not need $752,110 of that projection and intends to transfer roughly $700,000 into health reserves, bringing the target reserve to about $3.5M for run‑out claims. Staff proposed returning approximately $752,000 that was not needed for health insurance back to the county as fiscal 2026 reversionary funds.
Staff also reviewed fund‑level details: an estimated $1.8M operating surplus, cafeteria fund invoices that could result in an end‑of‑year deficit, and capital projects where some requested items were not approved by the county. Board members praised fiscal stewardship and emphasized the importance of transparency when returning funds to the county.
The board moved to approve recommended revisions and updates to the FY2027 budget as presented.
