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CFO gives preliminary year‑end figures and flags $2.1 million comp‑and‑class gap with city funding
Summary
Chief financial officer Matthias Greywood reported preliminary June 30, 2026 numbers, noted full receipt of city transfers and a preliminary general fund balance (about $2.83M), and outlined a $2.1M funding gap for the division’s revised comp‑and‑class (compensation/classification) request after state budget changes; finance said staff are exploring options with the city.
Matthias Greywood, the division’s chief financial officer, presented a preliminary year‑end budget update to the school board on July 15 and described a remaining funding discussion with the city over the division’s compensation/classification request.
Greywood said Petersburg received all 12 city transfer installments (approximately $12,977,000 total). Preliminary general fund figures showed instruction, administration and other major functions ending with remaining balances (instruction just over $1 million; operations/maintenance $868,000; technology $226,000), and he reported a combined preliminary fund balance of about $2,830,000 pending year‑end closeout adjustments.
On compensation and classification ("comp and class"), Greywood said the division’s original funding request to the city was $16.0 million. After the state budget provided additional funding for SOQ positions (a state contribution the division incorporated), its requested ask fell by $843,000 to $15.2 million. The city’s operating budget included a placeholder of about $13.1 million, leaving a $2.1 million gap specifically tied to the comp‑and‑class ask. Greywood said finance and city budget staff are exploring mutually acceptable options and that the division would return recommendations to the city.
Board members asked about the likely final fund‑balance outcome; Greywood said the fund balance will be lower after final postings and that the division is "very close to zero" on unconstrained fund balance once mid-year cuts are considered. Trustees asked for timelines and options and were told finance is modeling scenarios and will report back.
What happens next: Finance will continue reconciliation and present recommended options for addressing the comp‑and‑class gap to the superintendent and to the city budget team; the board requested follow-up reporting and a possible action item if a supplemental appropriation is needed.
