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Moreland staff warn governor's budget cuts to COLA could reduce district's ongoing revenue
Summary
District finance staff told trustees the governor's January proposal includes significant one'time funds but reduces the ongoing cost-of-living adjustment (COLA) from roughly 3% to 2.41%, a change the presenters said could cost Moreland about $400,000'$500,000 in ongoing revenue and complicate multi'year budgeting.
Moreland School District finance staff on Thursday told the board that the governor's January budget proposal offers one'time K'12 funding but reduces the ongoing cost'of'living adjustment (COLA), a combination that could strain the district's multi'year budget. "He is providing some one'time additional resources to schools, but at the same time he is reducing the COLA," a presenter said, adding the COLA was lowered to 2.41% from about 3.0.
The reduction in COLA, officials said, has the practical effect of lowering the…
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