Finance committee forwards Geneva CUSD 304 tentative 2026'27 budget to full board

The Geneva CUSD 304 finance committee on July 13 reviewed the district's 2026'27 tentative budget and voted to forward the plan to the full board for final action after the required 30-day public filing and an Aug. 24 public hearing.

Todd Latham, Staff member, presented the draft (the third of four budget drafts before adoption) and walked the committee through revenues, expenditures and timing. He said the tentative education fund beginning balance is $20,244,086, with projected education fund revenue of roughly $84,000,000 and expenditures around $87,000,000, producing a narrower ending balance that "keeps me up at night" but still meets the district's fund-balance policy.

Latham listed the district's revenue components as local taxes and fees, state evidence-based funding and restricted categorical reimbursements, federal grants and investment interest. He noted the personal property replacement tax estimate will not be available from the state until August and flagged variability in the timing of tax receipts and reimbursement flows as factors that can change final numbers.

On the expenditure side, Latham explained categories such as salaries, benefits, purchased services, supplies and capital outlay (the board's policy defines capital outlay as items of $10,000 or more). He said salary adjustments in the fiscal 2027 draft reflect placement and split assignments for staff, and he called out a substantial revision to benefit cost estimates driven by employee insurance elections and market changes. "I underestimated the benefits. Now I'm overestimating them," Latham said, adding he adjusted office estimates to reflect what he believes will be a truer number.

The committee discussed specific funds. Latham said operations and maintenance saw a rise in fund balance due to stronger interest income and a $50,000 state grant, while the transportation fund was affected by the arrival of state-bid buses that changed the district's fleet purchase timing and capital outlay plan. He warned that after the planned bus purchases the district will reach full capacity for propane storage and may need to consider additional tanks or alternate fuel choices.

Latham summarized district-wide totals and transfers: overall revenues were estimated at about $125.5 million versus expenditures of roughly $126.5 million (not including transfers), with an estimated aggregate fund balance near $70.7 million that he expects to settle near $62.0 million after transfers and capital spending. He recommended the board review the district's 10-year plan to confirm long-term trends.

After reviewing the draft and raising clarifying questions about benefits and contingency assumptions, the committee voted to move the 2026'27 tentative budget to the full board for filing and public comment. The budget will be on file in the business office for public inspection from July 16 through Aug. 21, with a public hearing scheduled for Aug. 24 prior to final adoption.

The committee also approved prior meeting minutes and heard there were no public comments at the start of the July 13 session. Dr. Barrett, committee member, reported no legislative updates. The meeting adjourned following the recommendation vote.