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District projects multi-year budget gap, enrollment decline and pension pressures; staff outlines timeline
Summary
Business official presented the district's first-interim budget projections showing a small current-year deficit, built-in COLA estimates of 2.43% for next year, rising pension costs and a seven-year decline of about 589 students.
Marilyn Edenton, the district's business official, presented an overview of the San Ysidro School District's current budget assumptions and multi-year projection at the board meeting.
Lede: The district projects deficit spending in its multi-year financial forecast driven by lower enrollment, rising pension costs and insufficient state cost-of-living adjustments, staff said.
Nut graf: At first interim the district estimated $92.7 million in total revenue, with Local Control Funding Formula (LCFF) revenue accounting for roughly 70 percent of the general fund; staff said general fund expenditures were estimated at $87.0 million and that salaries and benefits make up about 72 percent of the general fund. Edenton told the board the district built a 2.43 percent COLA for the next fiscal year in its projection, but…
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