At last night’s CSD School Board meeting, our Chief Financial Officer, Mr. Thomas Greenwood, presented a 2025-26 year-end financial update showing significant improvement over the year’s original budget projections.
2025-26 was forecast to be a very challenging year. Disciplined financial management, stronger-than-budgeted revenue, and expenditure controls changed the outcome. The District had originally projected a $5.0 million deficit for the 2025-26 school year.
Through disciplined financial management, stronger-than-expected revenue, and tighter expenditure controls, the District reduced that projected shortfall by 90% to just $0.5 million—a $4.5 million improvement. “Our administrative team’s focus goes beyond changing our financial practices. The progress we’ve made over the past year is largely in part due to a fundamental shift in our mindset about allocating resources and taking greater accountability. We must ensure that every investment is intentional and aligned with our district priorities to improve student learning and sustain a high-quality educational experience for every student,” said Dr. Abe Lucabaugh, Centennial School District Superintendent.
Two levers closed the gap:
Revenue finished $1.95 million above budget, driven largely by stronger-than-anticipated local collections, including real estate, earned income, and business privilege taxes.
Expenses came in $2.57 million under budget, with savings in contracted services, purchased services, supplies, and debt service — including $468,000 saved through two successful refinancings completed during the year.
“Not all of this year’s savings are expected to repeat — some, like supplies underspending and one-time tax collections, were tied to unique circumstances. But recurring gains in local tax revenue and continued reductions in out-of-district placement costs are expected to benefit the District’s budget outlook going forward,” said Thomas Greenwood, Centennial School District Chief Financial Officer
The full financial presentation is available on the District website for community members who would like more detail.