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District finance chief warns of volatility in state, federal funding as school year begins
Summary
District staff told the board that while the district’s $87,000,000 general fund budget is balanced for now, several state and federal revenue streams remain uncertain and some one-time grants should not be used for ongoing costs.
The Los Altos School District received an update from district finance staff on state and federal funding as it prepares to open schools, and officials urged caution about relying on one-time revenues. The presentation, given by Mr. Wallace, outlined the district’s $87,000,000 general fund portfolio and noted that property tax is the district’s largest source of revenue while federal funding represents about 1 percent of the total but still amounts to more than $1 million. Mr. Wallace said a discretionary state block grant will deliver “about $315 per ADA. It’s right around a million dollars,” and that the district expects a modest COLA for some restricted…
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