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Quarterly financial report shows reduced expenditures but PERS increase leaves fund balance below policy
Summary
Finance staff presented the 0.25 financial report and said steps to reduce expenditures are underway; a PERS rate increase added roughly $5 million in expenditure pressure and the district’s preliminary fund balance remains below the board policy minimum of 8%.
Chief financial staff presented the district’s first quarterly (0.25) financial report. The presentation showed administration’s efforts to reduce expenditure trajectory compared to the prior year and highlighted major variances tied to classroom instruction, central services and student safety. Kessler said disbursements year‑to‑date are below last year and administration aims to reduce overall expenditures by approximately $2 million compared to the prior forecast.
Kessler noted a significant PERS rate increase that took effect July 1 and added roughly $5 million in cost pressure for FY25‑26. The preliminary unaudited FY24‑25 ending general fund balance was reported at just over $6 million (about 4.19% on a conservative projection); board policy sets a minimum reserve of 8%, leaving a gap of roughly $3 million. Administration said it will continue disciplined spending and may bring budget recommendations in the spring if state revenue forecasts do not improve.
