Budget
Everett School District’s budget is the written expression of how the district will utilize limited resources to achieve the goals outlined in the district’s strategic plan and community priorities. Budget development occurs throughout the year, starting in the late fall and culminating in August with adoption of the budget by the Board of Directors.
This complex process relies upon multiple sources of input from various stakeholders including students, staff, administration, legislative outcomes, key communicators and community members. The district adopted its 2025-26 operating budget on August 19, 2025.
Resources
To find more information regarding audit, financial statements, fiscal advisory council and presentations to the board please click the respective sections below
Fiscal Stewardship
District has history of strong fiscal stewardship of community resources
Everett Public Schools has a five-year strategic plan that is ambitious, exciting, and is a comprehensive effort that guides the district and aims to bring community, district leadership and staff together to meet the needs of all students. The strategic plan guides the efficient use of resources on effective instructional practices.
District Bond rating of Aa3
Everett Public Schools has maintained a strong bond rating based on its creditworthiness and financial performance. Moody’s Investors Service has assigned its underlying rating of “Aa3” to the district’s unlimited tax general obligation bonds.
Credit ratings essentially give investors confidence about the district’s overall creditworthiness and its capacity and willingness to meet its financial commitments. Everett has the 3rd highest rating classification AA with Standard & Poor's (out of 22 classifications), and has the 4th highest rating classification with Moody's (Aa3). Continued high credit ratings translate into better interest rates which equals savings for taxpayers.
Audit Process
Each year the State Auditor’s Office (SAO) performs an annual audit of district programs and business practices. The district's audit reports can be found under the Audit Resources section below.
Award winning Financial Reports
As the 13th largest school district in the state, Everett has been committed to reporting its annual fiscal activities in greater detail than minimally required in a format known as an “Annual Comprehensive Financial Report". The preparation of this document requires added effort by staff and provides a public benefit to our community through greater transparency. It is independently reviewed by outside agencies and national associations to confirm the accuracy of the information presented.
Everett Public Schools has received the Association of School Business Officials (ASBO) International Certificate of Excellence in Financial Reporting for the 2023-24 Annual Comprehensive Financial Report, as it has each year since 1987. The district was also awarded the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for the seventeenth consecutive year. The annual report is submitted to the national depository where investors who purchase the district’s bonds to support school construction can monitor our ongoing fiscal stability. This higher level of reporting supports the district’s high bond rating which benefits our community through lower tax rates.
Annual Budget Cycle
The annual budget process begins by analyzing year-end financials, state revenue forecasts, the Governor’s December budget, and initial enrollment projections to assess whether programs can be enhanced, maintained, or reduced.
Next, the Fiscal Advisory Council (FAC)—including community members, staff, students, and leaders—reviews programs and prioritizes needs using the Strategic Plan, student data, and Instructional Reviews.
The third phase develops the formal operating budget (Form F-195), integrating all staffing and program adjustments, with board review in July and adoption by board resolution in August.
In July and August, finance and HR teams work with schools and departments to set up operations for the new school year.
Once school begins, the district conducts an eight-day, school-by-school enrollment analysis—including special programs—to make any needed staffing adjustments.
