Fairfield CSD Reports Strong Financial Turnaround for Fiscal Year 2025

The Fairfield Community School District increased its unassigned general fund balance from $92,976 to $4.19 million in fiscal year 2025, raising its financial solvency ratio from 0.42 percent to 17.23 percent. 

The general fund ended the year with a total balance of $4.7 million, up from $878,029 in fiscal year 2024. District leaders attributed the improvement to the absence of one-time audit adjustments and the successful implementation of $1.87 million in savings measures.

The district reduced total expenditures by 16 percent, from $25.18 million to $21.14 million. The reduction included the elimination of a $2.48 million audit adjustment and targeted cuts identified near the end of fiscal year 2024.

"This year’s report reflects careful planning, reduced expenditures, and our commitment to long-term financial health," said Superintendent Zach Wigle. "We are proud of the progress we’ve made, especially after hitting the Board of Education’s financial solvency ratio goal of 15 to 20 percent. We remain focused on building a sustainable future for our students and staff."

General fund revenues for fiscal year 2025 rose slightly to $24.97 million. Changes included:

• Local sources: Increased by $2.19 million (21.8 percent)

• State sources: Increased by $408,038 (3.8 percent)

• Federal sources: Decreased by $623,520 (28.5 percent) due to the phase-out of Elementary and Secondary School Emergency Relief funds

The Day’s Net Cash Ratio increased from 33 days to 109 days. Year-end cash and investments totaled $6.34 million, a 178.8 percent increase that returned the measure to the district’s target range of 90 to 120 days.

The district maintained positive cash flow and did not require interfund borrowing during the fiscal year. All key financial indicators now meet target thresholds. 

"As we look ahead, we are turning our attention to hourly wages and ensuring our compensation structures support a stable, dedicated workforce that will allow us to fulfill our vision of being a destination district," said Chief Financial Officer Evan Marten. "We know our employees are essential to student success, and we are committed to reflecting that in our budgeting."

To view the full financial health report, visit https://www.fairfieldsfuture.org/.