2024-2025 End-of-Year Financial Update

At the November 13 Regular School Board Meeting, our School Board reviewed our 2024–2025 end-of-year finances and discussed the work ahead.

Heading into this school year, our worst-case scenario for our year-end finances was that we would end this past school year with -$5.9 million in reserves. However, through significant cost-management efforts across all departments and schools, stronger budgeting processes, and better-than-expected revenues, we closed the year with reserves of about -$700,000. This is a big improvement compared to what we anticipated. Special Education contributed $2.5 million more in reimbursement revenues than expected, which significantly helped reduce the shortfall.

This progress improves our outlook for 2025–2026 and accelerates our fiscal recovery by about a year and a half. If we continue this progress, we will be well on our way to restoring our fund balance, especially with the upcoming closing of the sale of the property on the backside of Somerset hill.

Looking further ahead, we must stay diligent in our conservative budgeting and advocacy at the state level for education funding. Our four-year forecast shows that by 2028–2029, if state funding remains unchanged and staffing levels stay the same, costs will again begin to outpace revenues. This reinforces the need for continued advocacy for a more sustainable funding model in our state. Our Superintendent, the School Board, the Bellevue Education Association, and PTSA leaders are aligned in advocating for ample and equitable public education funding.

School Funding Town Hall on January 7

An important event on school funding advocacy coming up after winter break is the School Funding Town Hall . On Wednesday, January 7, 2026, from 7:00 to 9:00 p.m. at Newport High School, this event will bring together 10 school districts, PTSA leaders, educator groups, and superintendents to discuss long-term school funding needs. Legislators and OSPI Superintendent Reykdal are invited, and students will help lead the discussion.

Please also stay updated on Bellevue School District’s financial recovery work. The Finance and Operations teams will share upcoming financial reports, including the September 2025 and October 2025 financials on December 18, in a Board Study Session directly after the Regular Board Meeting.

Thank you for your continued engagement and support as we work toward long-term financial stability.

Dr. Heather Sánchez, Chief Operating Officer
Mr. Loren Tillman, Interim Chief Financial Officer