Coeur d'Alene School District reports strong financials

An independent financial audit found the Coeur d’Alene School District had stronger-than-expected financial results for fiscal year 2025.

Hayden Ross, an accounting firm from Moscow, delivered the audit report to the school board trustees Monday evening. The report showed Coeur d’Alene School District ended the fiscal year with a general fund balance of $18.9 million, an increase of more than $4.8 million from the previous year.

The strong audit results reinforce the district’s long-term commitment to transparency and fiscal responsibility.

“The general fund is in good shape,” Tony Matson, principal for Hayden Ross, said in a Thursday news release from the district. “The board and district staff have done a good job managing the district’s finances."

Board Chair Lesli Bjerke said the district is financially strong, stable and forward-looking.

"We take our responsibility as stewards of public dollars very seriously and are committed to transparency in all financial matters, ensuring our community can clearly see how funds are managed and where every dollar goes," she said.

Superintendent Shon Hocker said careful planning, conservative budgeting and teamwork across departments helped ensure that the district finished fiscal year 2025 ahead of projections.

“These results demonstrate our district’s culture of financial transparency and responsible stewardship of taxpayer dollars — in our schools, departments and the district office — while we continue to prioritize the needs and success of our students and staff,” Hocker said.

Maintaining a healthy fund balance is a financial best practice that helps ensure stability and continuity for students and staff. For school districts, this reserve functions much like a household savings account; it allows them to continue operating for at least two months in the event of delayed revenues, emergencies or unexpected costs. While the district is in a strong financial position, that strength does not replace the need for levy support. Local levy dollars provide roughly 25% of its annual operating budget and are essential to sustaining daily operations, staffing and programs. A solid fund balance and reliable levy funding work together to ensure basic services and reflect the district’s careful planning and responsible stewardship of public funds.

Tyler Morton, executive director of finance for the district, said it's prudent to maintain a strong fund balance in the event of unforeseen circumstances that could affect the district’s ability to pay teachers and staff and cover operating expenses.

"This outcome exceeds the target set by the district’s budget subcommittee and the minimum fund balance of two months of expenses recommended by government financial experts," Morton said.

“Our goal is simple and unwavering: To make every dollar stretch, to plan responsibly for the future and to remain prepared for whatever lies ahead, so that students, staff and families can count on a stable, well-run school system today and for years to come,” he added.

Increased revenue

The district’s revenues exceeded budget projections by $1.8 million, primarily due to:

• Higher-than-anticipated local interest earnings were up about $491,000

• Collection of about $236,000 previously retained by Kootenai County

•  Increases to state appropriations and other state revenues, including transportation reimbursements and revenue-in-lieu payments totaling over $1.1 million

Expenditure reductions

Expenditures came in $2.3 million under budget as schools and departments continued to manage resources carefully. Key areas of savings included:

• Health-benefit costs and workers’ compensation, totaling about $600,000

• Reduced spending on purchased services, including student support contracts, professional development and extracurricular travel, totaling nearly $600,000

• Lower costs for supplies and materials across transportation, administrative and school budgets, totaling about $350,000

Investing in our people and programs

The district’s support unit count, the calculated number of allowable staffing from the state, reached 451 for fiscal year 2025, exceeding projections. Support units are a key factor in state funding based on enrollment and attendance. The district expects to maintain at least the same level of support units in fiscal year 2026, reflecting stable student enrollment and improved attendance rates.

    Bjerke