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Board hears tentative FY26 financial close; $1,000,000 projected reduction in fund equity
Summary
Miss Bradford presented tentative financials for the year ending 06/30/2026, citing an anticipated roughly $1,000,000 reduction in fund equity, a $700,000 legislative supplement affecting expenditures, and June revenue of $840,635.69; final statements will be submitted to DOE in mid-September.
Miss Bradford reviewed the district's tentative financial statements as of June 30, 2026 and described closing steps that will continue through mid-September.
She told the board the tentative close shows a reduction of about $1,000,000 in fund equity and attributed the majority of the change to expenditures driven by a legislative supplement of approximately $700,000 that was added to required spending this fiscal year. She also reported monthly revenue for June as $840,635.69. Bradford emphasized the figures are preliminary: "this is tentative" and final figures will be presented again at the September meeting after all revenues and expenditures are fully posted and the district submits final reports to the Department of Education.
Board members asked clarifying questions about the composition of the reductions and the treatment of grants and transfers; no final approvals were taken at the meeting.
