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Finance Committee

Board of Directors

LCPS Finance Report Update

2026-27

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Finance Committee - 9/24/26

Board of Directors - 9/30/26

LCPS Finance Report

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2026-27 Timeline Overview

Month to Month - where we are headed!

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July	Update YTD Budget vs. Actuals Enrollment Update
August	Enrollment Update Closing the books for FY26 Audit Unaudited Actuals approval
September / October	Construction & Capital Improvement Cost Update YTD Budget vs. Actuals
November	Update 2025-26 Audit Update YTD Budget vs. Actuals Budget Revision and 1st Interim Preparation
December	Audit approval First Interim Approval

	Second Semester
January	Update YTD Budget vs. Actuals
February	Approve teacher and staff compensation for FY 27-28 Budget Enrollment Lottery Update
March	Update YTD Budget vs. Actuals Second Interim Approval FY 27-28 Budget Continued
April	Update YTD Budget vs. Actuals
May	Update YTD Budget vs. Actuals Preview FY 27-28 Budget
June	Update YTD Budget vs. Actuals Finalize FY 27-28 Budget

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2026-27 Finance Update Overview

Executive Summary (August 2026)

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TRENDS:

Enrollment ~2.3% above original budget: YTD is 1698 vs. 1660 budgeted

Current enrollment is 1704 with only 19 disenrolled since Day 10
Still accepting new students off the waitlist in any grades with space and waitlists

Focused on continuing to recruit TK & K families and backfilling any disenrollment below Day 1 Min/Max counts

Pivoting to launch 27-28SY Application Season

ADA: 2.3% above budgeted average ADA, but on pace with Aug/Sept from prior year which landed us at 91%--Currently on track to match budget
Cash Flow: Currently, we have approximately 38 days of cash on hand, which is below our 60-day
Budget vs. Actuals: Our budget-to- actual expenses are on target as of August 2026

Overview	Score
Enrollment 2026-27 Original 1,660 Current YTD average 1698
ADA Budgeted 91%; Currently at 93.31%
Cash Flow
Budget vs. Actuals

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2026-27 Budget vs. Actuals

Revenues

July 2026 to August 2027

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Revenues	Actuals	2026-27 Original Budget	Remaining Budget	% of Budget
8010 - Principal Apportionment	$2,018,496	$25,005,876	$22,987,380	8%
8100 - Federal Revenue	$94,907	$3,182,492	$3,087,585	3%
8300 - State Revenue	$747,460	$10,988,020	$10,240,560	7%
8600 - Local Revenue	$159,896	$1,220,439	$1,060,543	13%
8800 - Donations/Fundraising	$84	$2,870,000	$2,869,916	0%
Total - Revenues	$3,020,843	$43,266,827	$40,245,984	7%

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2026-27 Budget vs. Actuals

Expenses

July 2026 to August 2026

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Expenses	Actuals	2026-27 Original Budget	Remaining Budget	% of Budget
1000 - Certificated Salaries	$2,174,825	$17,479,688	$15,304,863	12%
2000 - Classified Salaries	$518,881	$3,846,386	$3,327,505	13%
3000 - Employee Benefits	$729,007	$4,573,886	$3,844,879	16%
4000 - Books & Supplies	$1,100,655	$3,430,119	$2,329,464	32%
5000 - Services & Other Operating Expenses	$1,441,561	$12,300,259	$10,858,698	12%
6000 - Capital Outlay	$157,668	$946,009	$788,341	17%
Total - Expenses	$6,122,597	$42,576,347	$36,453,750	14%

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Cash vs. Bond Covenants as of August 2026

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Key Metrics / Bond Covenant	Current (August, 2026)	Dashboard
Our Debt Coverage Ratio This is defined as LCPS’s ability to cover our debt service Our bond covenant sets this at 1.1	1.43 debt coverage ratio* (includes now total debt/ground lease)
Our Days Cash on Hand This is defined as our current cash divided by our operating expenses divided by 365 days; our daily cash rate is ~$114K* (updated daily rate based on 2026-27 budget)	38 days of cash on hand for end of August Cash $4,325,073
Bond Covenant Days Cash Our bond covenant sets our days cash at 45 days The bond covenant includes cash and 3 months of accounts receivables�	82 days Bond Covenant cash on hand

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Review the 2026-27 Check Register

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August 2026 Bill Payments - Link

2026-27 Vendors over $50K - Link

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Facilities Master Plan & Financing Strategy Updates & Discussion Link to July Board Presentation of Draft Plan

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Since we last met:

Master Plan Updates:

Refined goals, project priorities (needs/wants/wishes) and laid out prioritization matrix
Updated cost assumptions, including modeling construction inflation factors and timing impacts of delaying or speeding up projects.

Financing Strategy Development:

Staff modeled and pressure-tested multi-year budget and financing scenarios to better understand an appropriate level and structure of long-term borrowing relative to other funding sources—including rebuilding the Capital Reserve/Rainy Day Fund, grants, and our current and projected financial position.

Tax-Exempt State Bond Financing Exploration:

Began discussions with Stifel on modeling bond issuance scenarios and timing options.
Developed initial timing options and modeling that incorporate reimbursement requirements, bond issuance blackout constraints, and LCPS budget considerations.

Framing:

We listened to the Board/Finance Committee feedback and we intentionally have slowed the financing timeline so that we could make any financing decisions from a more informed position.
We have materially advanced the work since the last discussion including updating the project priorities and cost assumptions per Committee feedback, modeling and pressure-testing multi-year budget and financing scenarios and their impact on our overall financial position, and modeling timing options and borrowing scenarios with Stifel to continue to advance the possibility of seeking a new tax-exempt state bond issuance as a possible lever for long-term borrowing.
We now have a stronger basis for determining the appropriate investment level, timing, and mechanisms.
The remaining question is not simply "Should we invest?" but how much, when, and through what combination of funding sources.
The modeling is intended to illuminate tradeoffs and risks—not manufacture a predetermined answer.
Today's Finance Committee discussion should help narrow the range of viable strategies before we return to the full Board.

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Facilities Master Plan & Financing Strategy Committee Discussion Link to July Board Presentation of Draft Plan

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At Finance Committee on 9/25:

1. Refine Project Priorities & Investment Level

Review updated project priorities and cost assumptions
Discuss what portion of identified needs should be funded through long-term borrowing versus other funding sources

2. Evaluate Financing Strategy Options

Review preliminary financing scenarios modeled by Stifel
Discuss the appropriate level, structure, and timing of potential financing
Identify additional scenarios or information needed to pressure-test the options

3. Align on Next Steps

Discuss financing timing options and key constraints
Identify areas for further analysis before bringing a recommendation to the full Board

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Review & Discuss Updated Facility Master Plan Project Prioritization Matrix

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Review & Discuss Preliminary Financing Modeling Scenarios Presented by Stifel

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Review & Approve Financing Timeline Options & Constraints

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Bond Financing Timing Options & Constraints

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Milestone	Option 1: Nov CSFA Meeting	Option 2: Dec CSFA Meeting	Option 3: Jan CSFA Meeting
Achieve Charter Renewal	September 2026
Kick-off financing Submit CSFA application Begin rating prep process	October 2026	November 2026	December 2026
Due diligence Rating meeting LCPS prelim board approval CSFA approval	November 2026*	December 2026*	January 2027*
Finalize documents & due diligence	December 2026	January 2027	February 2027
LCPS final board approval Stifel credit committee Print bond prospectus	January 2027	February 2027	March 2027
Price bonds & lock rates Close bonds & deliver funds	February 2027	March 2027	April 2027**
CSFA Spring Black Out Period	Estimated to start Mid-April
*CSFA has not yet set it's 2027 meeting calendar & they often cancel monthly meetings creating a timing risk
**LCPS Reimbursement Resolution constraints: Summer 2025 projects ($3MM) must be reimbursed by April 8, 2027 and Summer 2026 project ($1MM) must be reimbursed by Feb. 11, 2028

Financing Timing Constraints

CSFA meeting / issuance windows
Spring blackout period
Rating and due diligence timeline
Reimbursement deadlines
Liquidity impact of delaying reimbursement

Cash Reimbursement & Liquidity Consideration

~$4M cash already deployed for recent asset preservation
Reimbursement restores liquidity and potential interest income to partially offset debt service
Waiting extends liquidity risk and may forfeit some reimbursement opportunities
Timing tradeoff: Cost of financing sooner vs. Cost/Risk of waiting

Framing:

There's one additional consideration we want to make sure is part of the timing discussion. We've already invested approximately $4 million of cash in capital improvements. That was an intentional use of cash, but it has reduced our liquidity.
If we're able to reimburse those expenditures through financing within the applicable window, we restore that cash position. If we wait beyond those windows, we lose that opportunity and would need to rebuild that liquidity through future operating surpluses or other funding.
There's also an opportunity cost to carrying that cash out of reserves. If those funds were replenished, they could earn interest income that would help offset some of the cost of future long-term financing.
So we're not looking at this simply as 'borrow sooner versus borrow later.' Waiting has its own financial and liquidity implications, and we want to make sure those are reflected in the modeling.
The timing of financing has financial consequences in both directions. We need to understand the cost of borrowing sooner, but also the cost and risk of carrying a reduced cash position and potentially losing reimbursement opportunities if we wait.
This is one of the reasons we asked Stifel to model the timing scenarios rather than looking only at the nominal interest cost of borrowing. We want to understand the full economic trade-offs—including the cost of carrying a lower cash balance while operating on tighter margins, the value of reimbursing prior capital expenditures, potential interest income on restored liquidity, and the risk of missing reimbursement windows.
Are there other costs, benefits, or risks of waiting versus financing sooner that you think we should incorporate into the scenarios?

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Request: Authorize Submission of Initial CSFA Application

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The October application preserves an option—it does not commit LCPS to borrowing.

What the application does

Initiates the CSFA process and allows CSFA to evaluate LCPS's potential eligibility to issue bonds.
Opens LCPS's financing and reimbursement options while we continue to evaluate the appropriate borrowing level & timing.
Does not commit LCPS to borrow or establish a borrowing amount.

Why take this step now?

Beginning the process in October helps protect against meeting/timing constraints and applicable reimbursement deadlines.
Over the next two months, staff and Stifel will continue to model and pressure-test borrowing scenarios and work with the Finance Committee and Board to determine whether and how much to borrow.

What would happen next?

Oct–Dec 2026: Continue financial modeling and evaluate borrowing level/timing with Finance Committee and Board
Dec-Jan 2027: Board considers whether—and how much—to borrow
Before pricing/rate lock: LCPS retains the ability to withdraw from or push back the financing

Board action requested: Authorize staff to submit the initial CSFA application in October to open LCPS's options to pursue a future long-term financing.

Framing:

Before we wrap up, I'd like to make sure we're clear on what we're taking away from today's discussion and how we're going to move this forward .
We've made significant progress since our last discussion. We've refined the project priorities, developed more detailed cost assumptions, worked through the financing timing constraints, and begun modeling different financing scenarios.
Today's discussion is helping us identify the right questions and tradeoffs to incorporate into that analysis—not necessarily to make every financing decision today though we have clarified X, Y, Z where we have or don’t have some consensus already.
Our goal from here is to take your feedback, refine the scenarios and recommendations, and get to a point where we can bring the Committee a clear proposed investment and financing strategy, and ultimately a recommendation to the full Board.
Before we close, are there any additional questions or analyses that you would want us to address before we come back with that recommendation?
Assuming we can address those questions through the additional modeling and analysis, do you feel we're moving in the right direction toward a financing strategy that you could ultimately support recommending to the full Board? And what do you recommend that we share with the full Board next week in terms of updating on where we are at and where we are heading?

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Next Steps

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1. Pressure-Test the Strategy & Incorporate Further Committee & Board Input� Refine priorities, investment level & financing & budget assumptions. Further model key financing scenarios and evaluate tradeoffs across borrowing, liquidity, reimbursement, project timing, and financial capacity.

2. Develop Recommendation� Return to the Finance Committee with a refined proposed investment and financing strategy & timeline so that Committee can develop a clear recommendation to bring to the full Board for consideration.

3. Full Board Update & Consideration� Bring the final Facilities Master Plan and recommended financing strategy back to the full Board for further input and approval.

4. Submit initial application to CSFA later in October to preserve LCPS’ option to pursue future long-term financing via bond issuance.

Framing:

Before we wrap up, I'd like to make sure we're clear on what we're taking away from today's discussion and how we're going to move this forward .
We've made significant progress since our last discussion. We've refined the project priorities, developed more detailed cost assumptions, worked through the financing timing constraints, and begun modeling different financing scenarios.
Today's discussion is helping us identify the right questions and tradeoffs to incorporate into that analysis—not necessarily to make every financing decision today though we have clarified X, Y, Z where we have or don’t have some consensus already.
Our goal from here is to take your feedback, refine the scenarios and recommendations, and get to a point where we can bring the Committee a clear proposed investment and financing strategy, and ultimately a recommendation to the full Board.
Before we close, are there any additional questions or analyses that you would want us to address before we come back with that recommendation?
Assuming we can address those questions through the additional modeling and analysis, do you feel we're moving in the right direction toward a financing strategy that you could ultimately support recommending to the full Board? And what do you recommend that we share with the full Board next week in terms of updating on where we are at and where we are heading?

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CSFIG HVAC Project Update & RFP Issuance Request for Board Approval

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Project Summary: LCPS was awarded $1.5MM in CSFIG funds to complete an HVAC replacement project that will cost ~$2MM (requires $500K in matching funds) at Lighthouse campus targeting summer 2027 completion.

Already completed:

Contracted with Blueprint (formerly PCSD) to support project management
Selected SVA architects via RFP process for design services.

Next Steps:

Submit permit plan set to city planning for approval by mid-October
Issue RFP drafted by legal counsel to solicit proposals for construction services and complete RFP process to award contract by December to remain on track

Board action required: Staff seeks Board approval for COO to finalize and issue RFP soliciting construction services proposals. Draft template from legal linked here.

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Finance Committee

Board of Directors

LCPS Finance Report Update

2026-27

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Finance Committee - 8/21/26

Board of Directors - 8/26/26

LCPS Finance Report

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2026-27 Timeline Overview

Month to Month - where we are headed!

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July	Update YTD Budget vs. Actuals Enrollment Update
August	Enrollment Update Closing the books for FY26 Audit Unaudited Actuals approval
September / October	Construction & Capital Improvement Cost Update YTD Budget vs. Actuals
November	Update 2025-26 Audit Update YTD Budget vs. Actuals Budget Revision and 1st Interim Preparation
December	Audit approval First Interim Approval

	Second Semester
January	Update YTD Budget vs. Actuals
February	Approve teacher and staff compensation for FY 27-28 Budget Enrollment Lottery Update
March	Update YTD Budget vs. Actuals Second Interim Approval FY 27-28 Budget Continued
April	Update YTD Budget vs. Actuals
May	Update YTD Budget vs. Actuals Preview FY 27-28 Budget
June	Update YTD Budget vs. Actuals Finalize FY 27-28 Budget

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2025-26 Preliminary Result: $304k Surplus

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Total Revenues	$45,240,658
Total Expenses	$44,936,634
Change in Net Assets	$304,024
Ending Cash	$7,344,624
Ending Net Assets	$14,710,514
Total Assets	$110,304,243

Summary

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2025-6 Revenues Total $45.2M

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Financial Statements: Statement of Activities and Balance Sheet

Total Revenues: $45,240,658 - $2.4M above 2nd interim

One-Time grants and other state revenues increased +$2.9M
Federal Title revenues increased +$535K
Others small revenues increased +$262k
LCFF revenue decreased approximately -$626K due to lower average daily attendance (ADA), plus a prior-year adjustment
Child Nutrition revenue decreased -$345K due to lower student participation
SB 740 facilities funding decreased -$250K
Special Education reimbursement decreased -$166K
Results include $2.5 M of consolidation elimination of intercompany CMO charges and pass-through grants

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2025-26 Expenses Totaled $44.9M

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Total Expenses: $44,936,634 - $2.7M above 2nd interim

Salaries and benefits increased +$369k
Rent, lease, repair, and maintenance costs increased +$364K
Field trip costs increased +$88K
Legal fees increased +$89K
Instructional consultants increased +382k
Special education contract services increased +$838K
Contract substitute teacher costs increased +$253K

Includes absences, long-term vacancies, and leave coverage

Others small expenses increased +317k
Results include the consolidation elimination of intercompany CMO charges

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2025-26 Audit Timeline and Next Steps

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Interim audit fieldwork: July 27–31, 2026
Year-end close target: September 21, 2026
Final fieldwork: October 5, 2026
Audit Committee review: week of November 16, 2026
Board review and approval: December 9, 2026

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2026-27 Enrollment/Recruitment Day 10

Likely Avg. Enrollment For 26-27 SY: 1680-1700–will wait to adjust until dust settles

Overall Enrollment: We met/exceeded enrollment targets for Day 10 and are on track to be above budgeted seats for the year

1711 students Active in Aeries on Day 10 (8/21)
7 remaining possible No Shows
25 Offers have gone out to backfill No Shows
Potential Census Day Enrollment projected to be between 1700-1720

Targeted Entry Grades:

Lighthouse: TK, K, and 6th Met/Exceeded targets; 9th slightly under but other HS grades picked up more seats than originally planned
Lodestar: 6th and 9th Met/Exceeded targets; TK & K slightly under but still receiving applications and accepting new students so likely to end year closer to fully enrolled

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Cash Flow vs. Bond Covenants as of June 2026

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Notes:
This was primarily driven by approximately $1 million in cash expenditures related to the Phase 2 TK summer construction project during June and July 2026. July cash balance: $6,307,886.77

WILL UPDATE

The purple line represents July-May actuals

The green line is the original adopted budget

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Cash vs. Bond Covenants as of June 2026

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Key Metrics / Bond Covenant	Current (June, 2026)	Dashboard
Our Debt Coverage Ratio This is defined as LCPS’s ability to cover our debt service Our bond covenant sets this at 1.1	1.71 debt coverage ratio
Our Days Cash on Hand This is defined as our current cash divided by our operating expenses divided by 365 days; our daily cash rate is ~$102K Our bond covenant sets our days cash at 45 days	72 days of cash on hand for end of year Cash $7,344,624.36
Bond Covenant Days Cash (End of June) The bond covenant includes cash and 3 months of accounts receivables�	126 days Bond Covenant cash on hand

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Review the 2026-27 Check Register

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July 2026 Bill Payments - Link

2026-27 Vendors over $50K - Link

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Facilities Master Plan & Financing Strategy Update Link to July Board Presentation of Draft Plan

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Since we last met

Board input: Presented initial plan and gathered feedback in July; solicited additional Finance Committee member input.
Financing: Began discussions with Stifel on bond options and timing. Pushing back financing timeline to allow time to finalize the master plan, determine borrowing need/capacity, and assess bond rating eligibility.

August–September Focus:

Master Plan: Refine goals, project priorities (needs/wants/wishes), and cost assumptions, including inflation factors and timing impacts.
Financing Strategy: Model and pressure-test budget, borrowing, and financing scenarios to determine an appropriate level and structure of financing relative to other sources of funding (Capital Reserve/Rainy Day Fund, grants, etc)

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Finance Committee

Board of Directors

LCPS Finance Report Update

2026-27

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Finance Committee - 7/16/26

Board of Directors - 7/22/26

LCPS Finance Report

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2026-27 Timeline Overview

Month to Month - where we are headed!

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July	Update YTD Budget vs. Actuals Enrollment Update
August	Enrollment Update Grants Overview Closing the books for FY26 Audit Begin Bond Financing evaluation
September / October	Construction & Capital Improvement Cost Unaudited Actuals approval Preview 1st Interim Budget Enrollment
November	Update 2025-26 Audit Update YTD Budget vs. Actuals Budget Revision and 1st Interim Preparation
December	Audit approval First Interim Approval

	Second Semester
January	Update YTD Budget vs. Actuals
February	Approve teacher and staff compensation for FY 27-28 Budget Enrollment Lottery Update
March	Update YTD Budget vs. Actuals Second Interim Approval FY 27-28 Budget Continued
April	Update YTD Budget vs. Actuals
May	Update YTD Budget vs. Actuals Preview FY 27-28 Budget
June	Update YTD Budget vs. Actuals Finalize FY 27-28 Budget

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2026-27 Finance Update Overview

Executive Summary (May 2026)

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TRENDS:

ENROLLMENT UPDATE - getting ready for 2026-27 SY

Enrollment Projections at LCPS look promising despite declining Enrollment in Oakland:

Enrollment projections at LCPS remain strong despite citywide declines in Oakland.

LCPS budgeted for 1,610 students, but current enrollment YTD average is 1610, so will land at final budgeted amount for P-2.

On track for exceeding overall enrollment targets for FY 26-27–further update in slides 5-6.

Overview	Score
Enrollment YTD average 1610 as of P-2; 2nd Interim budgeted at 1610
ADA 92%; currently at 91% as of P-2
Cash Flow
Budget vs. Actuals

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2026-27 Enrollment/Recruitment Pre-Lottery

Potential Avg. Enrollment For 26-27 SY: 1630 (Low)- 1660 (Mid) - 1690 (High)--SAME AS LAST MONTH

We are on track to meet or exceed enrollment targets (if current trends hold) with most likely landing between 1640-1670 for average enrollment 26-27SY

Our enrollment projections match low, middle, high scenarios at 1,630 - 1,690 students
We are on track to fill 2 sections of TK & K at LH and 1 additional section of TK and 1 additional section of K at LS though they may be smaller

Post-Lottery Leading Indicators are looking very promising overall and we have slightly increased enrollment projections but are still assuming conservative enrollment targets in our budget assumptions for next year

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2026-27 Enrollment/Recruitment Pre-Lottery

Potential Avg. Enrollment For 26-27 SY: 1630 (Low)- 1660 (Mid) - 1690 (High)

As of 6/1/26: 1801 Accepted + 11 Offered Not Yet Accepted + 142 Waitlisted (130 declined)

LH: 170 Offers Accepted / 3 Made (122 Waitlisted) + 781 ITR = 961 possible / 875-910 likely
LS: 152 Offers Accepted / 8 Made (42 Waitlisted )+ 687 ITR = 840 possible / 770-810 likely
Total LCPS: 322 Offers Accepted/142 Waitlisted + 1468 ITR = 1790 > 1645-1705 likely
Estimated: 1630-1690 Average Enrollment for FY27–will know more once new and returning student registration is complete (end of June)

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Entry Grade Estimation of Likelihood We Are On Track to Fill Budgeted Seats

Apps & Likely Enrollment By Entry Grade	TK	K	6th	9th
Lodestar Accepted Seats	27	17	24	13
Lodestar Rising ITR Yes	0	24	55	78
LODESTAR Subtotal	27	41	79	92
Lighthouse Accepted Seats	40	29	33	15
Lighthouse Rising ITR Yes	0	21	53	71
LIGHTHOUSE Subtotal	40	50	86	86
LCPS TOTAL	67	91	165	178
Less Attrition Factor	65	88	156	151-160
Enrollment Target 26-27	70-80	80-96	156-162	156-162
% towards Target	81-93%	92-110%	96-100%	93-102%

TK/K: We are on track for 2 sections of TK at LH and 2 small at LS. Last year we ended up continuing to get applications and fully enrolled students well after lottery and expect to see this again. We are planning for 2 TK sections (1 may be capped at 10) and 2 small K at LS to allow us to continue to accept kids to/through FDOS/Census Day.

6th Grade & 9th Grade: We are on track to exceed full sections at both sites. GSP acceptances in non typical entry grades (7th/8th for MS and 10th-12th for HS) will allow us to top up/exceed all grades 6th-12th

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Cash Flow vs. Bond Covenants as of May 2026

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Notes:
This was impacted by spending ~$3.5MM for Roof Truss and Phase 1 out of cash in June-Sept 2025

WILL UPDATE

The purple line represents July-May actuals

The green line is the original adopted budget

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Cash vs. Bond Covenants as of May 2026

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Key Metrics / Bond Covenant	Current (May, 2026)	Dashboard
Our Debt Coverage Ratio This is defined as LCPS’s ability to cover our debt service Our bond covenant sets this at 1.1	1.91 debt coverage ratio
Our Days Cash on Hand This is defined as our current cash divided by our operating expenses divided by 365 days; our daily cash rate is ~$102K Our bond covenant sets our days cash at 45 days	72 days of cash on hand for end of year Cash $7,359,915.15
Bond Covenant Days Cash (End of June) The bond covenant includes cash and 3 months of accounts receivables�	122 days Bond Covenant cash on hand

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2025-26 Budget vs. Actuals

Revenues

July 2025 to May 2026

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Revenues	Actuals	2nd Interim Budget	Remaining Budget	% of Budget
8010 - Principal Apportionment	$20,290,561	$23,386,462	$3,095,901	87%
8100 - Federal Revenue	$3,660,394	$3,404,117	($256,277)	108%
8300 - State Revenue	$8,061,650	$9,305,022	$1,243,372	87%
8600 - Local Revenue	$1,527,128	$1,220,439	($306,689)	125%
8800 - Donations/Fundraising	$2,424,587	$2,870,000	$445,413	84%
Total - Revenues	$35,964,320	$40,186,040	$4,221,720	89%

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2025-26 Budget vs. Actuals

Expenses

July 2025 to May 2026

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Expenses	Actuals	2nd Interim Budget	Remaining Budget	% of Budget
1000 - Certificated Salaries	$15,870,652	$16,670,534	$799,882	95%
2000 - Classified Salaries	$3,300,911	$3,103,995	($196,916)	106%
3000 - Employee Benefits	$4,654,459	$4,585,236	($69,223)	102%
4000 - Books & Supplies	$3,048,402	$3,230,393	$181,991	94%
5000 - Services & Other Operating Expenses	$11,746,731	$11,024,575	($722,156)	107%
6000 - Capital Outlay	$1,026,334	$940,000	($86,334)	109%
Total - Expenses	$39,647,489	$39,554,733	($92,756)	100%

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2025-26 Audit Update

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Interim Audit Fieldwork - July 27-31, 2026
Final Audit Fieldwork - October 5, 2026
Audit Committee Review - December 2026
Board Review and approval of Audit Report - January 2027

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Review the May and June 2026 check Register

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May and June 2026 Bill Payments - Link

2025-26 Vendors over $50K - Link