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District projects multi‑year deficits; board approves COP refunding to cut interest costs
Summary
Business services presented a first interim report projecting multi‑year general‑fund deficits driven by declining enrollment and rising costs; trustees approved the first interim positive certification and authorized refunding certificates of participation to refinance debt and save interest.
The Placentia‑Yorba Linda Unified School District on Dec. 16 received a first interim financial report that warns of multi‑year deficit projections and approved steps intended to reduce borrowing costs.
John Papalardo, presenting the first interim, outlined assumptions underpinning the district’s multi‑year projections: an anticipated decline in enrollment of about 1.8% annually (roughly 400 students per year), a tentative statutory COLA projection (staff used 2.3% for the current year in modeling), and rising health and welfare costs (projected at 8% increases). Based on those assumptions, the presentation showed…
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