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SFUSD finance team warns of $22.3 million FY2021 gap, urges board direction to meet July 1 deadline
Summary
District finance staff presented a revised budget showing an FY2021 deficit of about $22.3 million and larger structural shortfalls in later years, citing state revenue cuts, rising personnel costs and COVID-related local revenue losses. Staff recommended negotiating labor concessions and using one-time funds while avoiding unilateral site layoffs.
San Francisco Unified School District finance officials told the Board of Education on June 26 that the district faces a projected FY2021 deficit of approximately $22.3 million and larger multiyear shortfalls unless the board provides clear direction and staff negotiates additional savings.
Chief Financial Officer Megan Wallace said the district's operating budget is about $849.1 million for FY2021 and that a combination of stagnant Local Control Funding Formula (LCFF) payments, rising personnel and pension costs, and COVID-19 related local revenue losses drove the gap. "With these adjustments, you can see that the deficit projection for fiscal year 2021 is now 22.3," Wallace said during the presentation.
The presentation included updated multiyear projections that assume the governor's May revised budget and federal…
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