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District finance official reports A+ S&P rating, warns of flat funding and rising costs
Summary
Nicole Cooper told the board the district remains in a stable financial position and retained an A+ S&P rating; she and staff warned of flat state allocations, possible federal title reductions (about $42,000), rising insurance costs and the role ORCA pass‑through funds in keeping services intact.
Nicole Cooper presented the district's financial report, saying the district is in a "really stable financial position" and that the proposed budget will be ready by May 6. She reported the district retained an A+ credit rating in S&P's annual review and emphasized that ORCA pass‑through funding and previously built reserves have helped the district avoid cuts many other districts face.
Cooper and other administrators warned that some revenue lines remain uncertain as state and federal allocations are finalized: staff reported a loss of about $42,000 in Title funding due to a lower poverty rate and signaled insurance premiums may rise "10 to 15%" next year. The board and staff discussed the district's seven‑year contract with ORCA and how pass‑through enrollment affects revenue; Cooper said the district expects to present the proposed budget to the board on May 6.
