The committee reviewed the current budget status and cash flow through May. The district ended May with an 8.27% ending fund balance. However, due to a smaller apportionment in June, the fund balance is projected to dip to 5.46% before rising again to approximately 8.09% in August. In June, the district incurred about $140,000 in substitute costs, covering both May and half of June. June payroll totaled around $3.3 million and included vacation and sick leave cashouts for retiring staff members.

The 2025-26 budget is finalized and has been submitted to OSPI for approval. Both the upcoming year’s budget and the four-year projection are balanced. Despite this, the 2025-26 fiscal year will remain lean, and the district must continue to monitor expenditures closely. Beginning in 2026-27 and continuing through 2028-29, Local Effort Assistance (LEA) funds will resume, adding an estimated $700,000 each year to the district’s revenue. The committee discussed potentially raising the minimum fund balance requirement to cover one month of payroll, and the board expressed interest in making this change at an appropriate time. Concerns about the uncertain future of federal program funding were also noted.

The facilities committee will be reconvening to restart planning efforts. Bob and Juston will conduct walk-arounds to assess facility needs and compile a list of potential projects. Principals will contribute their own lists of priorities and wish list items. Athletic equipment will also be considered as part of the overall facilities planning. Amanda reminded Bob to include the facilities committee on the agenda for the upcoming board advance so that a board member can be appointed to participate.

Pam has created a shared Google Drive where principals can enter their supply needs. Tauna will manage the ordering process, with all deliveries sent to the Pioneer Center for sorting and distribution. Additionally, Bob will set up a meeting with the local Kiwanis group to review and discuss classroom and district wish lists.

At this time, the finance committee has no recommendations to present to the board.