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District outlines multi-year financial framework to restore fund balance by 2030
Summary
Richland School District finance staff presented a plan to rebuild fund balance to 8% of annual expenditures by August 2030 using a mix of expenditure controls, enrollment-based budgeting and monthly OSPI-indicator monitoring, with an emphasis on transparency and community updates.
Travis, the district business director, presented a detailed financial framework the board says is intended to restore the district's fund balance to 8% of annual expenditures by August 2030 and to improve routine financial transparency.
The plan sets specific targets tied to OSPI fiscal-health indicators: keep the expenditure-to-revenue ratio below 98% while gradually raising days of cash on hand, and adopt a staged approach to staffing and program spending until core benchmarks are met. Travis said…
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