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Gainesville ISD finance update: projected revenues above budget but a year-end deficit remains
Summary
Director of Finance Jon Hill reported projected FY revenues of about $36.17M and expenditures of $37.79M, yielding a projected year-end deficit of approximately $1.61M and a projected ending fund balance of about $13.27M.
Dr. Jon Hill, Gainesville ISD’s Director of Finance, presented a mid-year budget forecast covering September through mid-May. He reported projected annual revenues of approximately $36.17 million versus the adopted budget of $35.90 million, producing a favorable revenue variance of roughly $278,660.
Projected annual expenditures were reported at approximately $37.79 million (budgeted $38.37 million), leaving a projected year-end operating deficit of about $1.61 million—an improvement of about $865,730 compared with the originally budgeted deficit of $2.48 million. The projected ending fund balance was reported at approximately $13.27 million. Payroll remains the district’s largest expenditure category, while professional services, supplies and other operating costs are within or below expectations.
