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District finance director reports stronger year-end balances, outlines debt and revenue outlook
Summary
Finance staff reported a 2024 education fund balance of roughly $2.0 million, total corporation debt near $7.1 million, and estimated state tuition support for 2025‑26 at about $9.03 million; curriculum purchases and tuition changes were cited as drivers of 2024’s fund changes.
The business manager presented the district's financial picture and projections at the Jan. 6 board-of-finance meeting.
According to the report, the education fund balance at the end of 2024 was presented at approximately $2,000,009. The presenter described steady increases in fund balances from 2020 through 2023 with a notable rise in 2024 driven largely by textbook and curriculum-material accounting entries and increases in student tuition receipts. The business manager said total corporation debt as of Dec. 31 stood at about $7,115,000 with annual interest of roughly $844,008.58; a bond is scheduled to mature in 2026 with other debt events noted through 2028.
The presenter also cited an estimate for state tuition support for 2025‑26 at about $9,028,000, noting that the February count could change this figure. Fund descriptions were provided for the education, operations, debt service, rainy day and referendum funds. The business manager told the board the district was not overexpended and revenues exceeded expenditures in the period reviewed.
Board members asked clarifying questions about fund drivers and timing; the presenter indicated additional detail will be available after audit exit interviews and the February student count.
