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Board hears first reading of FY27 budget showing $1.45 million gap; district outlines options
Summary
Finance director Miss Fleming presented a FY27 first reading based on House projections. Projected revenue of about $17.1–17.25M vs. expenditures of $18.5M yields a roughly $1,450,000 shortfall the district expects to cover via capital transfers and fund balance adjustments.
Miss Fleming, the district finance presenter, gave the board a first reading of the FY27 budget built on state House projection numbers and cautioned the figures are subject to change until the General Assembly finalizes the state budget. She detailed state allocations (about $7.0 million), local revenue projections (operating millage, manufacturers' reimbursement, Lake Greenwood development-zone receipts and fee-in-lieu amounts), and projected total revenue of roughly $17.1–17.25 million against projected expenditures near $18.5 million.
"So just to recap, our total revenue is currently projected to be about 17,100,000, and our expenditures about 18,500,000. So in order to have a balanced budget, we will need to offset that $1,450,000 deficit," Miss Fleming said. She told the board the district can transfer some funds from the District Capital Project Fund and use fund balance at the fiscal year end if necessary, and noted the district had already absorbed six FTE positions into existing staffing assumptions to reduce costs.
