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Peninsula School District CFO warns of multi‑year shortfall; board directed comprehensive update
Summary
CFO Ashley Murphy told the Peninsula School District board that declining enrollment, the end of federal COVID-era funding and an under‑funded state prototypical formula have left the district projecting multi‑year deficits that could trigger state oversight unless the district continues staffing and program adjustments.
Ashley Murphy, Peninsula School District chief financial officer, told the board Tuesday that the district faces structural revenue shortfalls driven by declining enrollment, the end of federal ESSER funds and limits in the state prototypical funding formula. Murphy said the district would have been insolvent without prior rightsizing and that, absent further budget changes, the district would exhaust its fund balance within three years and risk state “binding conditions,” a form of financial oversight.
“Had we not done anything in 22–23, we would have ended last year with just over a 1% fund balance,” Murphy said. “This year right now, we would not have had a financially solvent district. This district would have had negative $4,800,000.”
Murphy walked the board and the public through how Washington’s prototypical staffing formula funds positions (CAS, CIS, CLS), the district’s current funded FTE versus actual staffing, and the resulting “overage” the district must cover locally. She said the state funds a…
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