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SFUSD Board approves negative certification, adopts fiscal stabilization measures as budget gap persists
Summary
The San Francisco Board of Education voted to file a negative second-interim certification and approved steps in a fiscal stabilization plan after staff warned of a multi‑year deficit; the meeting included an auditors report, bond authorization, and a supplemental early retirement plan that officials say will reduce payroll costs.
The San Francisco Board of Education voted unanimously to file a negative second‑interim fiscal certification for the districts 2024–25 budget and approved a set of stabilization steps intended to narrow a multi‑year shortfall.
Board members were presented updated multi‑year projections showing growing deficit spending through fiscal year 2026–27 without further reductions. Superintendent Dr. Matt Hsu and finance staff told the board that the district must rely on a mix of one‑time restricted funds, approved reductions and staffing changes to avoid depleting required reserves.
The auditor, Christy White of the districts external audit firm, delivered an unmodified opinion on the 06/30/2024 financial statements while flagging several findings including payroll control weaknesses, a payroll deposit fraud incident, some late cash deposits and exceptions in immunization documentation. White said federal compliance testing yielded a clean opinion but recommended strengthened year‑end close controls and additional internal audit capacity.
Why it matters: San Francisco Unified School District (SFUSD) is projecting…
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