EL PASO, TEXAS (KFOX14\/CBS4) \u2014 As the El Paso Independent School District grapples with a $52 million budget deficit, district leaders are also facing concerns about the long-term stability of its employee health insurance fund.<\/p>\n
EPISD is facing a $52.8 million budget shortfall for the current 2025-2026 budget year, leaving the district with about 38 days left in its fund balance, described as the district\u2019s \u201cpiggy bank.\u201d Next school year is projected to be even worse, with a $42 million deficit and fewer than 12 days of savings. While district officials have until the end of June to balance next year\u2019s budget before the school board can approve it, more questions are being raised about how the deficit will impact students and staff. <\/p>\n
During EPISD’s Board of Trustees meeting on Tuesday, it was noted that the district’s health insurance fund is not sustainable. <\/p>\n
Lori Boswell, a third-party auditor at Moakcasey who was hired by the district after it discovered its budget issue, told board members the health insurance fund is $19 million short. <\/p>\n
“I didn’t do a deep dive into your health fund, but I can tell you on a high level right now that you’re not bringing in enough revenue to offset the claims.”<\/p>\n
Boswell said the district has been transferring money from its general fund to cover, and that fund now owes the general fund $19 million. <\/p>\n
In response to the $19milllion shortfall, trustee Daniel Call said, “That’s a problem…right now we are on track, if we don’t do something insanely drastic, we’re going to be down to 11 days in fund balance by the end of next year not including the $19 million that were essentially short on our health care fund.” <\/p>\n
Boswell noted that Call is correct, stating that the district’s 11 days of fund balance do not include this deficit.<\/p>\n