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Board hears budget pressures, audit delays and plan to 'be lean' next year
Summary
Superintendent and finance staff told the Ontario School District board that rising costs, potential insurance increases and an unresolved multiyear audit mean the district will operate with reduced flexibility next year and may use reserves to manage the first year of a new funding biennium.
Superintendent and finance staff updated the Ontario School District 8C board on budget pressures and a delayed audit that the district says has dragged on for three years.
District finance staff reported increases in several cost drivers, including anticipated higher casualty insurance (PACE) and shifts in retirement (PERS) projections. The superintendent told the board the district expects to be "lean" in the coming year: "We're going to be lean with that," the superintendent said, explaining the district will be careful about refilling positions and will use reserves to smooth budget timing…
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