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OUSD lays out 2024-25 budget outlook, stress tests and stabilization ideas
Summary
At a June 13 hearing, district finance staff summarized state budget shifts and presented multi-year local projections, stress-test results and proposed stabilization options — including a pension stabilization trust, expanded CARES childcare slots, textbook adoption funding and targeted reserve commitments — while noting uncertainty in state COLA and revenue forecasts.
District business staff presented a detailed budget hearing on June 13 that reviewed state-level changes, local revenue and expense projections, and risk-management options.
Presenters described the state-level "maneuver" and May revise context: statutory COLA expectations fell from earlier projections (staff cited earlier assumptions near 3.94% that were revised down to 1.07% in the May revision and a 0.76% figure used for planning). Rivera and budget staff walked through five-year projections, explained the…
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