Treasurer tells Northridge board the district’s five-year forecast is healthy but warns House Bill 96 could cut local revenue

Treasurer Britt Lewis (presenting the May reconciliation) told the Northridge board that, under current assumptions, the district’s five‑year forecast shows manageable cash balances and a 97% historical accuracy rate on forecasts, but that pending state legislation could materially alter revenues.

Lewis said about two‑thirds of the district’s funding comes from local property taxes and that proposed reforms in the state legislature—most notably House Bill 96—would cap carryover funds at 30% and could reduce local revenues or empower county budget commissions to adjust levy receipts. "The property tax implication of House Bill 96 would be devastating school districts across the state and us," he said in his presentation. He recommended a "wait and see" approach while monitoring the legislature and reiterated the district’s reserve policy aimed at maintaining a 60‑day cash balance.

Board members asked for clarification about one‑time property tax windfalls and how they affect cash vs. recurring revenue; the treasurer explained that windfalls raise cash balances but do not automatically increase recurring revenue in the forecast. After discussion, the board approved the May 5‑year forecast and assumptions by roll call (vote recorded 4–0).

The treasurer's presentation included revenue and expense assumptions (projected revenue growth about 2.1% annually vs. projected expenditure growth near 7.4% annually), enrollment stability/decline, and the district's approach to matching expenses to revenue to maintain financial health. He recommended vigilance and continued monitoring of pending state legislation that could require mid‑year adjustments.