Dearest reader,
We have reached Step 5 for Midland Public Schools — the audit. 🪶
First, the good news.
✅ Midland received an unmodified opinion on its FY2025 financial statements.
But a clean audit opinion does not mean there is nothing worth reading in the numbers.
The audit reports expenditures exceeding final appropriations in three areas:
📋 School Administration — $144,398 over budget
💳 Debt Service — $33,550 over budget
🍎 Food Service — $276,074 over budget
Combined: $454,022 over final appropriations.
Then there is the General Fund.
Revenue: $109,515,969
Expenditures: $111,275,272
That put expenditures $1,759,303 above revenue.
After other financing activity, the General Fund decreased by $1,771,852 during FY2025, ending with a fund balance of $35,624,972.
And the ledger does not stop at June 30.
🔎 Looking ahead:
The district's adopted FY2025–26 budget anticipates an approximately $3.78 million deficit.
The district also states that after accounting for its expected budget variance, it anticipates the amount will be closer to $2.2 million.
One more number caught my eye.
🏫 Capital outlay increased from $2,107,505 in 2024 to $5,297,641 in 2025.
That is an increase of $3,190,136 — or 151.37%.
Of the FY2025 amount, $4,334,725 was for facilities acquisition.
A clean audit opinion.
Budget overages.
A declining General Fund balance.
A projected deficit.
And a substantial increase in capital spending.
None of those facts should be viewed in isolation.
That is why we read the whole ledger. 🪶
With receipts and respect,
Lady Budgetdown
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