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Sale of corporate center softened operating loss for district, auditors say
Summary
Auditors told the board that proceeds from the corporate center sale (about $15.4 million) materially reduced the district's operating loss — without the sale the district would have reported an approximately $22 million loss.
Auditors said the district posted a year-to-year operating loss, but proceeds from a recent sale of the corporate center materially offset that deficit. Jerry Convey said roughly $15,400,000 in revenue from the building sale reduced the district’s overall losses.
“So, you know, if it wasn't for that sale of that building, you would have been at about a $22,000,000 loss,” Convey said, framing the sale as a one-time mitigation of operating shortfalls that otherwise stem from state-aid reductions and higher costs such as private-school tuition for special education placements. The auditors cautioned that fund-balance and one-time asset sales are not equivalent to ongoing operational revenue when the board considers FY27 budgeting decisions.
