REPORTS TO THE BOARD

Financial and Enrollment Report

To: Asha Riley, Superintendent

From: Stacy Brown, Director of Business Services

Date: August 21, 2025

Subject: July Financial Update

2025–2026 Budget Update

I included the final F-197 full document, summary document, resolution, and F-195 Four-Year Budget Plan.  As I developed the four-year budget plan, I assumed that the board would want to increase the fund balance to the 8% recommended levels and increase it through the end of the third year.  Please let me know if you have any questions.

Financial Update

Financial Information Summary as of July 31, 2025, based on attached documents.

• Fund Balance: Per the attached documents, the fund balance is projected to decrease by  $74,000, which is about $620,000 favorable to the budget.  We have decided to complete some much-needed maintenance projects this summer, including hiring some summer custodial and grounds staff, and we are going to use some Capital Projects funds, but will also be using some General Fund.  This could affect the projected calculated fund balance by as much as $150,000.
• Revenues: Now that we are through July, local revenues have actually surpassed the projected amount through July.  State special-purpose funds continue to be greater than expected, mainly due to increased special education funding, due to student counts being greater than budgeted.  
• Overall Expenditures: Certificated and Classified salaries are greater than budgeted, while benefits, supplies, and services are considerably less than budgeted.
• Budget Variance Report:  Through July,  total projected revenues are $185,000 more than planned, and total projected expenditures are $537,000 less than planned. The combined result is a $722,000 favorable surplus to date. For further details, please see the Budget Performance Update Report attached 

Attached Documents:

• Budget Performance Update Report (page 1)
• Month-End Fund Balances (page 2)
• YTD Financial Forecast (page 3)
• High-level summary of year-to-date revenues and expenditures.
• Projected amounts for the rest of the year.
• Projected ending fund balance.
• Budget Status Reports for all funds (pages 4-8)

As always, please let me know if you have any questions.