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Board approves second-interim budget report and $2.1 million first-phase rightsizing plan
Summary
Budget staff presented a multi-year projection showing a current-year revenue projection of $80.7 million and expenditures of about $86.5 million; trustees approved a rightsizing plan and certified a "positive" interim status after proposed reductions.
The Buena Park School District Board approved its second-interim budget report and a rightsizing plan intended to address multi-year structural deficits at the March 10 meeting.
Budget director (presenter) explained the second-interim results and projections: the district’s total revenue projection for 2024–25 is $80.7 million and total expenditures are about $86.5 million, producing an excess of expenditures over revenues of roughly $5.8 million. The presenter said the general-fund unrestricted beginning balance was $23.3 million and that, after accounting for transfers and restricted programs (notably special education and a required 3% restricted maintenance transfer), the district’s total beginning balance was about…
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