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Staff report stronger-than-expected ending balance; financial model to be updated ahead of May budget review
Summary
District financial staff told the legal budget committee the April financial model will be updated; FY2024—25 ended with about $6.07 million, better than the model's prior $5 million projection, and state formula revenue estimates rose modestly.
Director of Business Services Margaret Breithaupt and Assistant Superintendent Stuart Ketzler walked the committee through the district financial model and recent reconciliations.
Ketzler said the April model projected an ending fund balance just over $5 million for 2024—25 but actuals came in better: "We actually ended up a little over 6,000,000. I think it was 6,067,000," he said. Breithaupt and Ketzler also noted that recent state-school-formula updates pushed 2025—26 formula revenue estimates higher (the model used $90.5 million; updated material showed roughly $91.4 million) and that preliminary 2026—27 estimates were near $94 million.
Staff cautioned that several items remain subject to reconciliation (including final ODE finance unit numbers and payroll adjustments) and that while the district expects to add modestly to fund balance if current revenue assumptions hold, rebuilding to policy targets will take multiple years.
The committee asked for follow-up materials and staff said they will update and circulate the revised financial model before the next meeting.
