San Francisco Unified adopts third interim financial report after weeks of budget debate; trustees press for clearer markers to reach state standards

The San Francisco Board of Education on Tuesday adopted its third interim financial report, a staff presentation that updated the district’s multiyear budget outlook and outlined how administrators plan to implement more than $110 million in reductions to stabilize finances. The board voted to submit the report to the California Department of Education after an extended discussion about reserves, projected deficit spending and what the state will require for a positive fiscal certification.

District finance staff told the board the district’s forecast has improved compared with earlier reports but still projects ongoing deficit spending across the next several years unless additional steps are taken. “The reductions that are in the fiscal stabilization plan essentially cut deficit spending in half for next year,” Anne Marie Gordon, interim chief financial officer, said during the presentation. Staff said the district’s…