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Committee reviews fund balance, revenue outlook and levy assumptions
Summary
Finance staff showed improving fund-balance trends but cautioned the district will likely miss a 2026 forecast because of deferred revenues; the local option levy remains central to revenue projections and the state school fund was described as locked in.
Gary Bennett reviewed financial projections and ending fund-balance history, telling the committee that while progress has been made, the district likely will not meet its 2026 forecast because some revenues were deferred to the next year. "I do not think we will hit that 2026 forecast for ending fund balance," he said, citing deferred receipts and timing of high-cost disability reimbursements.
Bennett noted the district's revenue growth estimate for the current year (about 5.98%) and a projected 2.64% increase the following year after adjusting for deferred revenues. He reiterated the importance of the local option levy, which produces material operating dollars for the district, and described grant funding as largely flat across the two-year window (about $7.01 million to $7.03 million for the largest grants).
