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Tacoma Public Schools projects budget shortfall, warns of "binding conditions" without cuts or new revenue
Summary
District finance staff told the school board that current projections show revenues falling short of expenditures and could trigger state oversight unless the district reduces spending or secures new funding.
Tacoma Public Schools finance staff told the board on March 27 that current year revenue projections are lower than budgeted while expenditures are tracking higher, producing a potential year-end deficit that could trigger a state-imposed financial oversight process.
Finance presenter Ross said the district budgeted $577.8 million in revenue but now projects about $562.2 million, while expenditures are projected to be higher than budgeted. "If things were to continue on the trend that we have at this moment in time, that's where we would end," Ross said, describing an extrapolated negative fund balance and saying the district is pursuing mitigating strategies to avoid that outcome.
The nut of the district's concern is a projected shortfall that, if realized, would place the district in what Ross described as "binding…
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