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Financial update: district now forecasts an ending fund balance just over $5 million; PERS and reserve shortfall cited as risks
Summary
The finance presenter told the board the district’s projected ending general fund balance is just over $5 million, noting a roughly $500,000 positive prior‑year true‑up and warning of PERS increases and a reserve shortfall that contributed to a one‑notch bond rating downgrade and negative outlook from rating agencies.
The district’s finance presenter gave the board an update to the multi‑year financial model and highlighted a modest improvement in the projected ending fund balance while flagging longer‑term risks.
Key figures and near‑term items: the presenter said the district’s projected general fund ending balance is now “just over $5,000,000,” an improvement of roughly $1 million from a projection made four months earlier. The presenter said the state’s final reconciliation for the 2023–24 school year included about $500,000 in positive…
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