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CFO presents fiscal forecast: FY25 deficit rises to $110M; administration proposes $32M in cuts and hiring/spending freezes
Summary
Interim CFO Katrina Montgomery told trustees the district’s projected FY25 operating deficit has grown to $110 million from the $78 million deficit the board approved in June 2024, explained drivers and proposed steps including hiring and spending freezes and further reductions to return to the earlier deficit level and maintain fund balance.
Interim CFO Katrina Montgomery presented the district’s 2025–2029 fiscal forecast at the Feb. 13 board meeting and reported that Austin ISD’s projected FY25 operating deficit has increased to approximately $110 million from the $78 million deficit the board adopted last summer.
Montgomery outlined factors driving the change: a sharper-than-expected property-value impact under TCAD (the district previously budgeted conservatively for property values), additional operating spending requests (special education, instructional materials, technology, service-center repairs), and reduced expected chargeback…
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