Lake Oswego School District reports budget adjustments and staff reductions for 2023-2024

In a recent meeting of the Lake Oswego School District 7J Budget Committee, key discussions centered around the district's financial health and upcoming budget adjustments. The committee aims to finalize the budget by June, a timeline that contrasts with neighboring districts like Beaverton and Portland, which have faced prolonged negotiations.

The meeting highlighted the importance of quarterly financial reports, which provide insights into the district's expenditures and revenues. These reports are crucial for tracking financial performance against both current and prior year budgets. The committee noted that significant variations in budget figures often necessitate supplemental budgets or requests for appropriation transfers, a common practice among school districts.

A major concern discussed was the impact of rising costs, particularly related to the Public Employees Retirement System (PERS). The district is mandated to adjust its contributions based on rates set by the PERS board, which are expected to change at the end of the current fiscal year. This financial pressure has led to the necessity of budget reductions, with the district planning to cut 64 positions across various roles, including administrative staff and classroom teachers. These reductions aim to align staffing and spending with available resources, as the state school fund has not sufficiently covered the district's operational costs.

The committee also addressed the need for transparency in financial reporting, with detailed analyses provided to board members and citizen members. This includes a breakdown of revenues and expenditures, allowing for a clearer understanding of the district's financial landscape.

As the district prepares for potential budget adjustments in late May or early June, the discussions underscore the ongoing challenges faced by educational institutions in maintaining service levels amid financial constraints. The outcomes of these deliberations will significantly impact the district's ability to support its students and staff in the coming fiscal year.