The West Linn-Wilsonville School District Board convened on December 9, 2024, to discuss several key financial updates and address concerns regarding transparency in reporting. A significant point of discussion was the clarity of financial reports, with a board member questioning the district's ability to produce straightforward documentation that clearly outlines work descriptions, completion status, and associated costs. The member expressed concerns that vague descriptions in quarterly reports could indicate a lack of transparency regarding the district's financial management.

The board also reviewed the proposed renovation master plan for the CDRO, which has seen its budget increase from $19 million to $38 million. Questions were raised about the high costs associated with hiring construction managers and general contractors, totaling approximately $15 million. The board member criticized the 8% annual escalation rate applied to the budget, suggesting it may lead to inflated costs and unnecessary debt.

In financial updates, the business office reported a decline in interest rates, now at 4.25%, compared to 5% the previous year. This decline is expected to result in a decrease of about $745,000 in general fund interest earnings for the 2024-25 fiscal year. The district has established a separate account for general obligation bond debt services, which will help reduce the tax burden on residents in the following year.

The board also noted a projected ending fund balance of $24.6 million for the fiscal year 2023-24, slightly lower than previous estimates. This adjustment reflects updated calculations for property taxes and deferred revenue. The business office emphasized the importance of maintaining a healthy fund balance, recommending a target of 16% of total general fund revenue, as advised by the Government Finance Officers Association.

In closing, the district received recognition for excellence in financial reporting from the GFOA, highlighting its commitment to transparency and accountability in managing public funds. The board expressed pride in this achievement, which reinforces public trust and supports informed decision-making. The meeting concluded with a transition to updates from the Department of Teaching and Learning, indicating ongoing efforts to keep the community informed about district activities.