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District staff warns of tight budget as enrollment and industry losses cut revenue
Summary
At a budget workshop, district presenter Jennifer Fleming said declining enrollment and recent industry closures have reduced funding; the district began the year with a $5.4M fund balance and may need to transfer up to $1.4M, leaving roughly $4.0M going into FY2627 if the full transfer occurs.
Jennifer Fleming, who delivered the board's budget overview, told the board the district began the current fiscal year with a $5,400,000 fund balance and had planned to transfer $1,400,000 to offset the 2526 budget. "We began this current fiscal year with $5,400,000 in our fund balance, with the anticipation of transferring 1,400,000 out of our fund balance to offset our budget for this current fiscal year," Fleming said.
Fleming said the district has faced several local industry closures and a multi‑year decline in student enrollment, both of which have reduced state and county funding. She cautioned the board that the district will not know the final size of the transfer until expenditures are settled at year end, but that "if we are at the 1,400,000 that we need to transfer, that'll put us starting next fiscal year with approximately $4,000,000 in our fund balance." The presentation noted the fund balance target under state guidance and projected liabilities will shape decisions in the upcoming budget workshop.
The presentation covered how reassessment and intergovernmental payments (discussed separately) could affect available revenue, and Fleming recommended board members plan a more detailed workshop to consider options and timing for first and second readings of the budget in May and June. No formal budget vote was taken at the workshop.
