Olympia School District holds first reading for 2024-25 budget 

Olympia School District Executive Director of Finance Kate Davis presented the district’s 2024-25 budget, showing the $9,590,715 beginning balance and $7,877,65 ending fund balance.  

The Thursday, June 20, 2024, meeting was the first reading of the next school year’s budget. 

Davis explained that of the general fund budgeted resources, 71% came from state apportionment-- whether general education or categorical programs on basic education. 

The budget’s 16%, amounting to $28.5 million, came from the voter-approved levy amount the legislature has set, and another 3%, amounting to $6.2 million, came from federal dollars. Other revenues amount to 9%, and because the district’s expenditures exceeded its revenue, it is taken out of the 1% fund balance. 

Davis explained that the budget has long-term assumptions and risks, especially in the 4-year budget, where more unknowns are assumed.  

The risks included enrollment projections where trends continue to change year-by-year and month-by-month.   

Legislative changes also bring risk, as the district often does not know what will be funded until the late spring legislative and budget calendar.  

Some risks are also associated with compensation and benefits because estimating what it will take to provide market-based wages and health insurance over the next four years is challenging. 

Budget recommendations 

Cuts are needed to provide a balanced 2025-26 budget and maintain a minimum fund balance of 3%.  

“Changes from our previous projection include lower beginning fund balance due [to] uncollectible grants, lower revenue from forest harvest, higher expenditures for maintaining family liaisons and behavior techs, increased compensation costs for staffing implementation, and increased need in special ed staffing,” the budget report stated.  

Davis urged the community to attend the public hearing on the budget this Thursday, June 28. 

“That time will be for folks to be heard for or against the budget. So, because it's a half hour, there won't be a budget presentation during that time, and it'll be just for hearing from folks about the budget. Then, during your regular board meeting, July 11, would be the second reading,” Davis informed the board.