Interim Chief Financial Officer Richard Matkin presented information during the Jan. 23 meeting showing the district is looking at an estimated shortfall of $6.3 million. Revenues are projected to be $4.5 million less, and expenditures are $2.5 million more than budgeted.
Lower-than-expected attendance is part of the issue, according to Matkin.
The budget was made with an average daily attendance projection of 13,293 students, but the average has been around 12,772, according to district documents. This metric is used to determine state funding for the district.
The first six weeks of school, the attendance average was 12,962 students, but during third six-week period, it fell to 12,589.44 average day attendance.
Matkin said the attendance numbers have been better in recent weeks with move-in students, but there are about 150 students still needed to meet the projections.
The district budgeted $1.5 million for federal flood control, and when the payment arrived in October it was for $821,146, $678,854 less than planned.
Another factor is a recapture payment increase of more than $7 million compared to FY 2021-22. The projected cost is now $61.3 million. That change almost offsets an increase in taxes, which could be $5.6 million more than planned in the budget.