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Treasurer warns of multi‑year deficit; 7.9‑mill levy noted for ballot
Summary
Treasurer presented an updated financial forecast showing a projected decline from $5.0 million to an estimated negative $29.5 million by fiscal year 2029 and told the board a 7.9‑mill tax levy (6.9 mills for operating) is on the ballot; fiscal projections reflect late county tax billing and conservative forecast assumptions.
At the Oct. 14 meeting, the district treasurer presented the September financial reports and an updated multi‑year forecast that trims the horizon to four years and adopts a more conservative baseline for revenues and expenditures.
The treasurer said general property tax receipts represent about 73.59% of overall revenue and that the timing of county tax bills produced a temporary collections shortfall (the treasurer estimated roughly $500,000 attributable to timing). He urged caution about relying on delinquent property tax collections for long‑term forecasting.
On expenditures, the treasurer noted salary and benefits assumptions tied to existing union contract steps, and he said he increased the employee retirement/insurance projection above prior levels to account for upcoming benefit decisions. "Ending cash balance expected to decline during the fiscal years 'twenty 7 through 'twenty 9 from 5,000,000 at the '7 to an estimated negative balance of $29,500,000 at the end of 'twenty fiscal year 'twenty 9," the treasurer said.
The treasurer described the projection as a "worst‑case" scenario and said corrective actions are planned. He also told the board the district has a 7.9‑mill tax levy on the ballot, with 6.9 mills dedicated to the operating portion of the levy. Board members said they and district staff will review books closely and pursue options to reduce anticipated expenses.
Board members subsequently approved the financial reports and related items by roll call.
