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Finance director outlines budget gains, proposed $687,000 supplemental transfer to erase multiyear deficits
Summary
Finance staff reported a projected $343,000 positive adjustment to the state school fund and recommended a supplemental budget to transfer $687,000 from instructional savings to eliminate multi‑year negative balances (food service, Medicaid), which could yield a $2.1 million ending fund balance by July 1, 2025.
The district’s finance director reported updated revenue and expenditure projections and a proposed supplemental budget to clear lingering multi‑year negative balances. The report showed a projected $343,000 increase in state school fund revenue and other modest positive adjustments, offset in part by an expected $610,000 shortfall in state and federal revenue sources related to high‑cost disability repayments.
"We are proposing that we would like to come to you with a supplemental budget requesting authority to spend another $687,000 on that line, transferring the spending authority that was in the instructional piece," the finance director said, describing an interfund transfer meant to eliminate negative balances in food service and Medicaid reimbursements. The staff estimate that, if the board authorizes the supplemental budget, the district could enter FY 2025–26 with an approximate $2.1 million ending fund balance — an improvement from previously reported negative figures.
Board members discussed trade‑offs, including whether immediately paying down debts would limit the ability to restore staff or programs and the auditor’s recommendations that negative sub‑fund balances be resolved. The board directed staff to present the supplemental budget formally at the June meeting with required public notices.
