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District projects multi-year deficit, sells bonds and approves Rodan leaseback for office modernization
Summary
Trustees heard a preliminary 2025-26 budget showing a planned drawdown of reserves and a projected $5.3 million deficit; the district sold Measure P bonds and refunded Measure I, and the board approved proceeding with Rodan Builders as leaseback contractor for the district office modernization.
Belmont-Redwood Shores School District officials projected a multi-year budget deficit while presenting the preliminary 2025-26 budget, reported a successful bond sale and moved to select a leaseback contractor for the district office modernization project.
Chief Business Official (CBO) Matsumoto told the board the district is forecasting a $5.3 million deficit and plans to draw down reserves to sustain current per-pupil spending while enrollment declines. "We are forecasting a $5,300,000 deficit," the CBO said, adding that although the district continues to deficit-spend, leaders believe the district remains in a manageable position if spending is carefully monitored.
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