ESASD Finance Committee Meeting January 12

The ESASD School Board Finance Committee met on January 12, 2026, primarily to review the district's annual financial report (AFR), audit preparations, and budget performance for fiscal year 2024-25. Consultants updated the committee on the successful completion of the AFR and audit processes, highlighting improvements in tracking expenses by individual school buildings to enhance budget transparency and compliance. The committee discussed a realized operating loss of approximately $10.3 million for 2024-25, largely influenced by unbudgeted bus purchases and construction projects funded by ESSER funds. Revenue shortfalls were noted in real estate tax collections and delinquent taxes, while investment interest income exceeded expectations. The committee also reviewed upcoming capital projects, including network switch upgrades with anticipated federal grant support, and approved motions to forward several procurement-related items to the full board, such as subscription renewals and facility invoices. Additionally, discussions included cyber charter tuition budgeting, advertising agreements for school facilities, and the annual Act 1 tax resolution limiting tax increases to 5%. The meeting concluded with a motion to adjourn after approving all agenda items for board consideration.