08/27/2026
๐ข ๐๐ฎ๐ฟ๐ฏ๐ฒ๐ฟ๐๐ผ๐ป ๐๐ถ๐๐ ๐ฆ๐ฐ๐ต๐ผ๐ผ๐น ๐๐ถ๐๐๐ฟ๐ถ๐ฐ๐: ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฅ๐ฒ๐ฐ๐ผ๐๐ฒ๐ฟ๐ ๐ฃ๐น๐ฎ๐ป ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ
At last night's meeting, the Board of Education voted to approve the submission of the August 2026 Financial Recovery Plan (FRP). The previous FRP was submitted in March 2026.
Here are the key takeaways regarding where our district stands and what has been accomplished:
๐๐ฒ๐๐๐ฒ๐ฟ-๐ง๐ต๐ฎ๐ป-๐ฃ๐ฟ๐ผ๐ท๐ฒ๐ฐ๐๐ฒ๐ฑ ๐๐ฌ๐ฎ๐ฌ๐ฎ๐ฒ (๐ฎ๐ฌ๐ฎ๐ฑ-๐ฎ๐ฌ๐ฎ๐ฒ ๐ฆ๐ฐ๐ต๐ผ๐ผ๐น ๐ฌ๐ฒ๐ฎ๐ฟ) ๐ฅ๐ฒ๐๐๐น๐๐: Thanks to reduced expenditures totaling approximately $1.7 million since March 2026, the district finished FY2026 in a stronger position than what was projected in the March 2026 Financial Recovery Plan
๐ฆ๐ถ๐ด๐ป๐ถ๐ณ๐ถ๐ฐ๐ฎ๐ป๐ ๐ฎ๐ป๐ฑ ๐ ๐ฒ๐ฎ๐ป๐ถ๐ป๐ด๐ณ๐๐น ๐ฅ๐ฒ๐ฐ๐๐ฟ๐ฟ๐ถ๐ป๐ด ๐ฅ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป๐: The plan includes approximately $7.1 million of FY2027 (2026-2027 School Year), growing to approximately $8.6 million in FY2028 (2027-2028 School Year) and FY2029 (2028-2029 School Year).
๐๐ฑ๐ฑ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐ฅ๐ฒ๐ฐ๐๐ฟ๐ฟ๐ถ๐ป๐ด ๐ฃ๐ฒ๐ฟ๐๐ผ๐ป๐ป๐ฒ๐น ๐๐ผ๐๐๐: Approximately $6.3 million of the FY2027 reductions is attributable to salaries and benefits, the largest components of the district budget.
๐ฅ๐ฒ๐ฑ๐๐ฐ๐ฒ๐ฑ ๐ก๐ผ๐ป-๐ฃ๐ฒ๐ฟ๐๐ผ๐ป๐ป๐ฒ๐น ๐ฆ๐ฝ๐ฒ๐ป๐ฑ๐ถ๐ป๐ด: The plan also includes recurring reductions in purchased services, supplies, and capital outlay.
๐๐บ๐ฝ๐น๐ฒ๐บ๐ฒ๐ป๐๐ฒ๐ฑ ๐๐ผ๐ฟ๐บ๐ฎ๐น ๐ ๐ผ๐ป๐๐ต๐น๐ ๐ ๐ผ๐ป๐ถ๐๐ผ๐ฟ๐ถ๐ป๐ด: The district completes a monthly monitoring document comparing estimated revenues and expenditures with actual results. Material variances require written explanation, allowing the district to identify trends promptly, test whether recovery-plan savings are being realized, update projections, and initiate corrective action.
๐๐ผ๐ป๐ด-๐ง๐ฒ๐ฟ๐บ ๐ช๐ผ๐ฟ๐ธ ๐๐ต๐ฒ๐ฎ๐ฑ: Despite these measures, expenditures are still projected to exceed revenues in future forecast years, with fund balances remaining at risk of turning negative during FY2027. The submission of the FRP includes a request to enter Fiscal Emergency. This status will allow the district to receive an advance of state funds which will allow for a positive cash flow.
To achieve full financial recovery, the district will continue evaluating options for permanent expenditure reductions, new recurring revenues (this could be accomplished with the passing of the November levy), or a combination of both.
Thank you to our community for your continued engagement as we work toward long-term stability for our schools and students!
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