The Sulphur Springs Union School District governing board is set to approve a positive certification for the district’s second interim financial report on Wednesday.
According to the meeting agenda, the second interim report is due March 17, and it reflects projected revenues, expenses, and year-end fund balances based on data through Jan. 31.
The agenda reads that is recommended the board approves the positive certification.
A positive certification means that the district is projecting to have enough available reserves this school year and the next two years to meet the state’s requirement of 3% of projected expenditures.
According to the report included in the agenda, the district is projected to have reserves of about $9 million after this year, followed by $9.1 million after next year and then $6.8 million the following year.
The reserve percentage is projected to go up from 9.5% this year to 9.5% in the next school year and then drop to 7.32% in 2026-27.
The district is projected to be deficit spending this year and the next two school years. It is projected to spend about $95.7 million this year, against about $88.5 million in revenues, a difference of $7.1 million that is set to come out of the district’s fund balance. The total ending fund balance for this school year is projected to be nearly $24.6 million.
According to the presentation included in the agenda, the next steps would be to review ongoing spending to maintain a balanced budget and approve a positive certification for the second interim.
Wednesday’s meeting is scheduled to begin at 7 p.m. at the district’s administration office, located at 27000 Weyerhaeuser Way.
