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Cascade SD 5 finance director flags tight budget as enrollment dips and PERS costs rise
Summary
Finance Director Mr. Pillar warned the board that enrollment is down about 40 students year-over-year at this point and that PERS rate increases will tighten the district budget; he noted Cascade has a PERS reserve fund and that the 2022–2023 audit showed a stronger net position.
Finance Director Mr. Pillar told the board the district's budget will be tight this year as the administration compares fall payroll costs to budgeted expectations. He said Cascade will not be dipping into reserves at this time but cautioned the board about rising PERS rates and described a dedicated PERS reserve fund that will help offset the cost.
Mr. Pillar reported the district has received the 2022–2023 audit from the previous auditors and that the balance sheet showed a significant increase in net financial position. He also offered the board options for additional insurance coverage tied to an auditor commendation and answered follow-up questions about fund balances and the district's roughly 34 managed funds.
Superintendent Darin Drill earlier told the board that student numbers are down about 40 from last year at this point, a factor the finance staff will monitor as the year progresses.
