LSR7 Finance Committee Meeting -06/12/26

The Lee's Summit R-7 School District Finance Committee meeting on June 12, 2026, focused extensively on procurement and budgetary matters. Key procurement discussions included the renewal and awarding of contracts such as the epoxy flooring specialist contract, bulk paper cooperative bid, technology and software renewals (including Turnitin, Notable/Kami, Mystery Science, Gizmo, and MyMathLab), and hardware replacements for Apple and Dell devices. The committee reviewed contract renewals both below and above $15,000, noting significant expenditures on educational technology and employee benefits. The district also discussed cooperative purchasing agreements to leverage buying power and detailed the management of device replacement and loaner programs. On the budget front, the committee examined the proposed FY27 operating budget of approximately $277 million in revenue against $286 million in expenses, highlighting a projected deficit of about $9.7 million primarily due to state and local revenue reductions. The committee discussed amendments to the current fiscal year budget, including adjustments for substitute pay and retiree leave payouts, and decided against a previously planned $2 million transfer from the general fund to capital projects. The capital projects fund was noted to be supported largely by bond funds, with future funding strategies under consideration. The meeting also covered employee benefits renewals, including dental, vision, life, and disability insurance plans, with minimal cost increases and a focus on maintaining high-quality benefits. Finally, the committee addressed tax rate rollback options and fund balance projections, emphasizing the importance of maintaining fiscal stability and monitoring revenue fluctuations. Overall, the meeting provided a comprehensive review of procurement contracts, budget amendments, and financial planning to support district operations and capital needs.