Financial Summary – FY27 Year-to-Date (as of August 31, 2026)

As of August 31, 2026, approximately 83% of the fiscal year remains. Overall, the division's financial position remains stable, with revenues and expenditures continuing to track closely together early in the fiscal year. Revenue collections and expenditures are generally consistent with the expected pace for the first two months of the fiscal year. 

Operating Fund

Total Operating Fund revenues collected to date are $27.8 million (17%) of the amended budget, leaving 83% of revenues remaining to be collected. Expenditures also total $27.8 million (17%) of the amended budget, indicating that spending is aligned with current revenue collections and the expected pace of the fiscal year.

Local revenues are progressing as anticipated, with approximately 80% of local revenues remaining to be collected. State revenues total approximately $12.8 million, representing 15% of the annual state budget received to date, while federal revenues total approximately $618,000, with the majority of grant reimbursements expected later in the fiscal year. Many of the other state funds that are still yet to be received are from Lottery and Incentive revenues that the School Division will begin receiving in January 2027.  County contributions continue to be received through the monthly true-up process and are slight over-budget for this point in the year.  The finance department will be preparing an additional appropriation request for the Board to review at the November meeting.  This should appropriate approximately $3,000,000 in state and grant revenue anticipated during the year.

Overall expenditures remain consistent with the point reached in the fiscal year. Personnel costs, which comprise the largest portion of the operating budget, are tracking as expected, while non-personnel expenditures continue to be monitored to ensure spending remains aligned with available resources and instructional priorities. All major expenditure categories remain within budget except for Technology.  This is on trend for this point in the year due to many year-long subscriptions that are paid for at the beginning of the fiscal year.  The finance department will continue to monitor all major expenditure categories for overages throughout the fiscal year.

Conclusion

The division remains in a sound financial position as of August 31, 2026. Revenues and expenditures remain aligned, cash flow remains stable, and budget activity is consistent with expectations for this stage of the fiscal year. Finance staff will continue to closely monitor revenue collections and expenditure activity throughout the year to ensure the division maintains fiscal stability while supporting instructional and operational priorities.