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Davis School District projects $782 million in revenues, schedules tax and budget hearings amid enrollment decline
Summary
Finance staff told the board the 2024-25 revenue estimate is about $782 million, with expenses near $778 million, leaving roughly $8.9 million to assign; staff signaled a proposed tax increase, multiple public hearings and a projected enrollment decline of about 900 students next year.
Nate Lee and Tim Loeffel presented an overview of the district's fiscal picture for 2024'25, telling the Board of Education the district anticipates about $782 million in revenues and roughly $778 million in expenses, leaving approximately $8.9 million to assign to reserves and the economic stabilization account.
The presentation laid out fund-level goals: maintaining an economic stabilization reserve at about 5 percent of the budget, building an assigned fund balance between $6 million and $9 million, and preserving three months' worth of insurance reserves. Staff told the…
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