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Woodland Hills warns of multimillion-dollar shortfall; board told tax increase and federal funding uncertainty loom
Summary
Finance staff reported a projected revenue gap tied to falling assessed values and common-level ratio adjustments, said the district may need a 1.3-mill tax increase to break even, and warned that federal funding streams (including Title and cafeteria funds) are uncertain because of staffing and policy changes at the federal level.
Jill, the district finance presenter, told the board the district faces a significant revenue shortfall driven primarily by declining assessed values and a drop in the common level ratio to 54%. She said the district would need a 1.3-mill tax increase merely to recoup the local tax revenue received this year and warned the district could lose roughly $2,000,000 in tax revenue absent a rate increase.
Jill and other staff described added revenue uncertainty tied to state and federal funding. Staff said the U.S. Department of Education offices that…
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