Loveland
Thompson district projects $4.44 million drop in general fund balance
The plan includes a $3 million draw already built into the budget, while moving staff from the Medicaid fund to the General Fund also contributes to the projected decline.
Thompson School District’s general fund balance was projected to fall $4.44 million in fiscal 2026 to $26.76 million, according to a financial update presented to the school board Oct. 21.
The projected ending balance represents approximately 12% of revenue. A staff member said discussions with state education officials and Moody’s included a recommendation to monitor minimum fund-balance policies, with 10% often mentioned. Subtracting 3% for TABOR reserves would put the balance at about 9%, the staff member said, warning that “challenging times are coming.”
The financial update lists $223.6 million in General Fund revenue and $228.04 million in expenditures for fiscal 2026. It puts the starting balance at $31.2 million, against a projected $26.76 million at year-end. A staff member said $3 million of the draw was planned in the original budget; moving staff from the Medicaid fund to the General Fund was another primary factor.
For October, year-to-date revenue was $5.45 million below budget, primarily because of timing differences, the update says. A staff member said property-tax and equalization timing drove the gap, with most property-tax revenue arriving in March. The monthly budget distribution could be adjusted to make the comparison more representative, the staff member said.
Year-to-date expenditures were $6.71 million below budget. Learning Services was $3.5 million below its year-to-date budget, a staff member said. The staff member attributed the gap mainly to personnel-budget timing and said a shortfall of 47 full-time-equivalent employees, all in classified positions, also contributed.
A board member asked the district to “include the budget reporting on the designated funds,” such as state and federal grants, and to add business-services expense categories. Another staff member said the district planned public-facing reports and would work out what details were useful to residents, staff, unions, the board and administrators. The presenter said January was the target for rolling out the new reporting system and offered to arrange a login. The board member said access should extend to the whole board, not just one member.