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District presents first interim budget: lower property-tax growth and midyear salary timing tighten but unrestricted balance remains positive
Summary
Finance staff reported a first interim budget that reflects lower-than-assumed secured property-tax growth and the timing effect of a recently negotiated 4% salary increase; staff said unrestricted ending balance remains slightly positive while some restricted grant accounts are being spent down.
At the board’s December meeting, fiscal staff presented the district’s first interim budget report (snapshot as of Oct. 31), explaining why the adopted budget differs from current-year projections and how the district is projecting finances across multiple years.
Elvis Lopez (Director of Fiscal Services) and staff told trustees secured property-tax receipts came in below the adopted-budget…
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