Quarterly financial report: projected $77M ending balance, revenue expected to exceed budget

Executive Director of Finance and Business Services Matt Makara told the board the quarter ending June 30, 2026, is showing preliminary positive results: a projected ending fund balance of approximately $77,000,000 (about 20% of general fund resources) and forecasted revenue expected to exceed the initial budget by $7.5 million.

"The projected ending fund balance is approximately $77,000,000, or 20% of general fund resources," Makara said, adding that the revenue increase is driven primarily by stronger state school fund receipts and higher returns from the local option levy, investment earnings and indirect grant charges.

Makara said total expenditures are forecasted to finish under budget by $4.5 million, with a primary driver being a decrease in salaries and benefits of $17.5 million. He attributed part of that reduction to a PERS rate reduction from SB 849 that lowered projected employer costs. The district is increasing transfers out by $10.3 million to build additional PERS reserves and support critical maintenance projects.

Board members asked whether increased purchase services were linked to substitute costs and Makara confirmed substitute and third‑party service accounting changes have shifted some personnel costs into purchase services while substitute demand remains high. Makara noted the presented numbers are preliminary and subject to final audit.