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Budget report: revenues up modestly; fund balance below policy at about 5%
Summary
Finance presenter Kim said enrollment is just under 1% down, that basic-ed apportionment yielded roughly $670,000 and SPED revenue increased about $462,000, and that expenditures were about $3,000,000 lower than the prior year; the district's fund balance is near 5% compared with a board-policy target of 8%.
Kim presented the monthly budget summary, reporting enrollment is "just under 1% down" from the prior year and that the district received approximately $670,000 more in basic-education apportionment and about $462,000 additional SPED revenue than budgeted. She said revenues are increasing but expenditures are where the district saw the largest changes: "about $3,000,000 less in expenditures" compared to June of the prior year.
Kim said the district's fund balance is roughly 5%, below the board policy recommendation of 8%, and cautioned the board not to let the fund balance fall further. She noted that Flow Analytics will prepare a four-year capital facilities update using October 2026 data to inform planning and that the board will adopt the 2026–27 budget at next month's meeting. "Next month, we'll be adopting the 2026–27 budget," she reminded the board.
Board members asked clarifying questions about what an 8% fund balance would mean operationally; Kim said holding that much in reserves could be difficult given current state funding levels and cash-flow timing. The presentation was informational; the board did not alter the budget at this meeting.
