Diane reported that the ending fund balance is currently at $2.4 million, which is less than one month’s payroll. Despite this, she noted that the schools have been performing well in terms of conservative spending, and it is anticipated that the district will end the year with an 8% ending fund balance.

Craig presented the option of allowing administrators to buy back vacation days if the ending fund balance exceeds 7.5%, in line with district policy. Diane clarified that this provision was not part of their contract this year due to budget constraints. However, Bob stated that the committee could revisit this idea depending on the district’s budget and suggested reviewing the existing policy if one exists. Craig believed that such a policy was in place.

There was a brief discussion regarding previously discussed salary inequities raised in a previous finance committee meeting. Diane reiterated the previous conversation, and Bob mentioned that no decision had been made yet. He suggested that the committee could bring a recommendation to the board in the next meeting if the committee chooses to proceed.

Bob discussed the potential for avoiding staff reductions (RIF). He noted that other districts are facing the need to borrow money to make payroll but are required to pay back these loans within a set timeframe and with interest. 

Next Steps:

• Review the administrator vacation buyback policy, if it exists, and revisit the topic based on the district’s budget.
• Consider salary inequities further in the next finance committee meeting and determine if it should be brought to the board.

Bob provided an overview of the results from the Community Listening Session held the previous evening. The data will be summarized after receiving feedback from staff, parents, and the community. Once compiled, the information will be disaggregated and presented to the board.

Bob provided an update on the current status of the legislative session, covering several key topics, including the Big 3, special education, MSOCs, and transportation. He noted that the proposal for additional transportation funding has been dismissed. Discussions are ongoing regarding the possibility of increasing the special education multiplier and eliminating the cap. The funding for MSOCs continues to decrease compared to the original language. There are currently two new bills regarding National Board stipends. Both bills propose a reduction of the stipend, with a new baseline of $3,000, and any increases will be tied to the IPD. Low-income schools will still receive a bonus. Bob mentioned that there has been talk about extending the session into a special session.

Bob discussed the need for restructuring and identifying appropriate positions for employees who may need to transition into available roles created by retirements and resignations. Based on preliminary budget projections, the district still needs to find $500k in basic education and districtwide support. Additionally, there are budget overruns in food service and transportation, so a review of both revenue and expenditures in these areas is necessary. Special programs will need to stay within their allocated budgets. Bob emphasized that the goal is to avoid cuts at the classroom and building level. These amounts don't account for any potential cuts that may be coming from federal funding.

Roberta explained how the cohorts were rolled over in elementary schools to determine class sizes and teacher staffing. The middle school and high school have been prioritized to complete their initial schedules for next year in order to assess staffing needs. There was discussion regarding the potential impact of enrollment changes if WSU makes significant cuts and how this could affect the district. The committee acknowledged the need to begin preparing in case a resolution for a reduction in force (RIF) needs to be presented to the board. Notices must be issued by May 15.