District on solid financial ground

March 3, 2020, Nancy Taylor, Director of Fiscal Services, provided a financial update to the Board, including the Ending Fund Balance report that is presented every March. She noted the district continues to maintain fiscal stability despite turbulence at the state and legislative levels as a result of levy caps and McCleary Decision funding formula changes.

"Our district continues to be in good financial health,” said Taylor. “Our projected ending fund balance is within our budget estimates and board policy."

Taylor reported the district's ending fund balance is projected to be about $9.8M. She noted a large percentage of the Ending Fund Balance consists of restricted funds tied to Federal and State grants and the Board’s minimum 6% restricted reserve policy.

As the Board and district prepare for the development of the 2020-21 school year budget, Taylor praised the district and its bargaining groups for agreeing to three-year contracts. She says the district is able to more accurately forecast upcoming budgets since there are two years remaining with both bargaining groups.

Unfortunately, as was discussed, it does not appear any significant increases in resources will be coming to the school district next year based on current legislative budgets presented both in the House and the Senate last week. The 2020-21 budget will go before the School Board for consideration Aug. 18.