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Central Unified board certifies positive first interim; PAR retirement offer approved
Summary
The board gave a positive certification to the district’s first interim budget (ending balance ~ $35.89M) and approved a PAR supplemental retirement plan that administration says would cost the district a percentage of participating employees’ final-year salaries; administrators will return Feb. 10 with final enrollment figures for the retirement offer.
The Central Unified Board of Trustees unanimously certified a positive first interim at its Dec. 9 meeting, and approved a districtwide supplemental retirement offering administered by PARs.
Assistant Superintendent Ekbal presented the first interim snapshot (covering July 1–Oct. 31) and the multi-year projection. Ekbal reported enrollment at about 16,025 and an unrestricted general fund ending balance of roughly $35,890,000, noting that salary and benefits comprise about 82% of unrestricted expenditures. He told trustees the district’s submission carries a "positive" certification, meaning administrators expect the district to meet its obligations for this year and the next two fiscal years.
"So we begin with the balance of 65,800,000.0... The ending balance comes to 35,890,000.00," Ekbal said, explaining assumptions behind the multi-year projection and warning that by fiscal year 2027–28 the district’s projected balance would fall below the board’s 5% reserve policy absent adjustments.
On a separate action, Assistant Superintendent Childs presented a PAR (Public Agency Retirement Services) supplemental retirement plan that administration recommended adopting by resolution. Childs described the plan as a qualified annuity payable over five years, estimating the annuity would equal "80% of the employee's final year salary" for participating employees and noting approximately 343 employees could be eligible. Employees would have until Jan. 30 to elect participation, with a final enrollment analysis to the board on Feb. 10.
Trustees asked follow-up budget questions about federal funding assumptions and were told administration would provide additional breakdowns at subsequent reports. The board approved both the positive certification and the PAR resolution by unanimous vote.
Next steps: administration will provide promised breakdowns for federal funding exposure, present the final PAR enrollment numbers and cost analysis on Feb. 10, and revisit multi-year budget assumptions at second interim.
