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Gateway Unified sees planned deficit as district budgets reserves for River Ridge reconfiguration
Summary
District staff told the board the 2024–25 budget will show a larger deficit after the board agreed to use reserves to fund reconfiguration and campus upgrades at River Ridge; staff outlined revenue increases, one-time grants, and an estimated $1.2 million deficit tied to $2 million in reserve spending.
Gateway Unified School District staff told the board on Monday that the district expects a larger 2024–25 deficit this year because it has budgeted reserves to pay for reconfiguration and upgrades at the River Ridge campus.
In a presentation, the district’s business services staff said the district’s total funds show roughly $46,000,000 when including bond and capital funds; excluding the Capital Fund 2021 (bond fund) the unrestricted portion is smaller than in prior years. Staff said they plan to draw approximately $2,000,000 from reserves for the campus reconfiguration, which contributes to an increased deficit figure…
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