Santa Fe Public Schools adopts $474.3 million operating budget, funds raises and site staffing by drawing $2.17M from reserves

The Santa Fe Public Schools Board of Education voted May 8 to adopt the district's FY2025-26 operating budget, a plan the administration said would fund a 4% salary increase for educational employees, expand site-based staffing for new K-2 statutory requirements and continue summer learning programs while drawing about $2,168,000 from district cash reserves.

The budget covers the district's total operating needs, capital and debt service and was presented by Interim Superintendent Dr. Garcia and Deputy CFO Beverly Aguilar. Dr. Garcia told the board the district expects a net increase in state equalization guarantee (SEG) funding but that the increase was not sufficient to cover all cost pressures, notably insurance premium increases, wage tier gaps and a jump in workers' compensation premiums.

The board's adoption follows weeks of internal review and a May 8 public presentation. The district's finance team told the board the operational portion of the budget would use a $2.17 million draw from reserves to fund site-based adjustments and department-level requests;…