Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Superintendent: $18 million in bonds funds renovations; $6.6M FY26 budgeted deficit covered by fund balance
Summary
Dr. Wise presented the FY2026 tentative budget, noting the district issued $18 million in bonds for referendum and renovation work. The FY26 budget projects $23.1M revenue and $27.7M expenses, a $6.6M budgeted deficit that will draw on fund balance; the board voted to place the tentative budget on display for 30 days.
Superintendent Dr. Wise presented the district's tentative FY2026 budget at the Aug. 6 board meeting and explained the financing plan for ongoing referendum projects. "The District borrowed $18,000,000 in bonds/debt certificates to conduct the work outlined in the referendum," he said, and added that those proceeds are recorded as revenue when received and that unused amounts become fund balance in subsequent years.
Dr. Wise outlined the FY26 projections: $23.1 million in revenue against $27.7 million in expenses, creating a $6.6 million budgeted deficit that the administration expects to cover using fund balance tied to the bond proceeds. He said the district projects roughly $3,000,000 in operating fund balance by the end of FY26 and noted state guidance that districts usually hold three to six months of operating cash (which would be closer to $12,000,000 for this district). The board voted unanimously 7‑0 to place the tentative FY26 budget on public display for 30 days.
The presentation frames the FY26 deficit as a temporary, budgeted shortfall tied to capital work funded by bonds; the board's action triggers a 30‑day public review period required before final adoption.
