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Treasurer Tracy reports FY26 shortfall of $1.1M; board approves minutes and financial report
Summary
At the July 4 Board of Education meeting, Treasurer Tracy presented a FY26 wrap-up showing a $1,100,000 general‑fund deficit, 7% salary increases and detailed levy and fund balances; the board moved and approved the minutes and treasurer's report by roll call.
Treasurer Tracy delivered a fiscal‑year wrap‑up at the July 4 Board of Education meeting, telling trustees that the district posted a $1,100,000 deficit in the general fund for FY26.
"A total deficit of $1,100,000 spent," Tracy said, and added that salaries and wages "increased by 7% or $2,100,000," an increase she attributed largely to an extra pay period in the fiscal year. Tracy also reported only 1.82% property tax growth for the year and said the board's carryover balance stood at about 29% of total expenses.
Tracy walked trustees through the district's levy analysis, saying the effective millage for homeowners is 27.39 mills and for businesses 45.55 mills; she noted the district has no emergency levies, a bond millage of 2.3 and a permanent improvement millage of 1.2 that expires in tax year ’27 (collections end in ’28). The general fund revenue and expense figures presented were roughly $53 million in revenues and $54 million in expenses, with a reported cash balance of about $15.6 million at fiscal year end.
Tracy also summarized other fund balances: a $1.45 million food‑service fund balance, an ending permanent‑improvement balance reported as $1,458,000, and an athletics fund balance of $3,744,000. She attributed some one‑time increases in revenue to timing changes such as a late pay‑to‑participate charge that was collected this fiscal year.
After the presentation the presiding officer asked for a motion to accept the minutes and the treasurer's report. A motion was made, seconded on the record, and the board conducted a roll‑call vote. Several trustees answered in the affirmative; the motion carried.
The board did not take further budget action at the meeting beyond accepting the report. Members asked no substantive follow‑up questions that changed the figures presented; staff indicated the numbers and supporting pages were available in trustees' meeting folders for further review.
The board moved on to other business, including donations and operational updates.
