Chief Financial Officer Courtney Reeves said the district is likely facing a $26.5 million deficit for the coming school year.
“This is just an initial first look,” Reeves said. “We know we still have a lot of work to do.”
The details
Preliminary data estimates the district’s revenue at $527.29 million for 2025-2026, with a majority coming from property tax collections, Reeves said. Expenditures are estimated at $553.79 million.
Additionally, Reeves said demographer projections indicate a 1.7% decline in student enrollment — about 777 for an estimated total of 45,774 students. The decline is an approximately $7.6 million loss in revenue, Reeves said.
Other factors include increases to property value, which affects recapture, and inflation. Recapture is a funding mechanism intended to balance the needs of school districts across the state. Recapture is expected to increase from $156 million in the 2024-2025 school year to $167 million in 2025-2026.
What’s next
The district will continue working on the budget, Reeves said, adding that a preliminary budget summary will be presented in May. A public hearing and adoption of the budget will take place in June and trustees will adopt the tax rate in August.
