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District presents conservative second-interim showing possible multiyear deficits; trustees approve report
Summary
District finance staff presented a conservative second interim projecting modest to significant deficits under a worst-case scenario and outlined assumptions; trustees approved the report and a three-year audit contract.
District finance staff presented the second interim financial report, portraying a conservative, worst-case projection for the next three years and recommending cautious planning. The report said current ADA is essentially steady and cited a near-term worst-case deficit pattern: about $331,000 this year and larger gaps in subsequent years (figures described as worst-case approximations of about $2.9 million and $2.2 million in the following two years). Staff emphasized conservative assumptions — they did not assume a student-support block grant, did not include some governor-proposed increases and budgeted a 2.41% COLA — and said the district expects updated state numbers next week that could change projections and prompt an August budget revision.
Trustees asked questions about the district's CISC investment pool returns and the potential use of fund 40 for upcoming capital work; finance staff described the investment as steady and accessible for planned projects. The board voted to approve the second interim report by voice vote.
Separately, trustees approved a three-year auditing contract with Linger, Peterson & Schrum, noting the firm's long-standing work with local districts and the practice of rotating audit personnel to maintain compliance.
The board recorded the approvals and will revisit budget numbers once the state releases final rates and block-grant details.
