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Rankin CSD 98 warns of preliminary FY25 deficit, cites building project costs
Summary
District administrators reported a preliminary FY25 deficit of $237,484 but said that when planned building project expenses of $354,498 are excluded the year would have been balanced; officials expect the final deficit to be smaller after June close-out.
The Rankin School District #98 board heard that a preliminary analysis of the amended FY25 budget shows projected deficit spending of -$237,484. Dr. Matt Gordon told trustees the district has had a positive fiscal year with few unforeseen expenses but that the planned building project — budgeted at $354,498 — is a primary driver of the shortfall.
Dr. Gordon said the district had deliberately accounted for some FY26 expenses (including future track repairs) in this year’s budget to ease next year’s pressures. “the end of the fiscal year will result in a deficit spending in the amount -$237,484,” he said, adding he expects the final figure to be lower once June transactions are completed. Board members discussed that excluding planned capital work would have left the operating budget balanced and with reserves.
