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SFPS CFO warns of $5 million shortfall tied to 509‑student decline; board discusses priorities and community schools
Summary
At a finance presentation, the district’s chief financial officer explained New Mexico’s funding formula, projected a roughly $5 million shortfall tied to an estimated loss of about 509 students, and the board debated priorities, community schools, and a strategic planning process.
The Santa Fe Public Schools Board of Education heard an overview of the district’s FY26 budget and a preview timeline for FY27 as Chief Financial Officer Richard Halford detailed the state funding formula, projected enrollment impacts and next steps for board priorities.
Halford told the board that in New Mexico the State Equalization Guarantee (SEG) funding starts with student enrollment and converts counts into "program units," which are multiplied by a unit value to determine a district’s allocation. "One thing that makes the state unique is that the state actually is the main source of funding," Halford said during his presentation, explaining why unit‑value changes can materially affect district…
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