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Independent review validates district's five-year forecast but confirms $25 million shortfall
Summary
CFO Heidi Sun told the Salem-Keizer School District board that a 10-week review by Affton LLC validated the district's forecasting model and assumptions; the forecast still projects a $25 million structural deficit and the review delivered a validation tool for future checks.
Heidi Sun, Salem-Keizer School District chief financial officer, told the board that an independent, 10-week review of the district's five-year financial forecast found the district's model was calculating as intended and that most major assumptions were "strongly validated." Sun said the district is now planning reductions against a projected $25,000,000 structural deficit.
"We are forecasting right now a $25,000,000 structural deficit that we are planning reductions for," Sun said, and added that if the forecast were off by 5 percent the difference would be roughly $1.2 million — a level she…
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