Paramount Unified presents first interim budget showing projected deficit but healthy reserves

Paramount Unified School District staff presented the 2024–25 first interim financial report on Dec. 18, outlining revenue and expenditure projections and the district’s multi-year forecast.

Assistant Superintendent Patricia Tu summarized enrollment and average daily attendance (ADA) trends, noting that funded ADA levels are lower than pre-pandemic years and that the district is projecting a conservative ADA of about 91% for the 2024–25 year. She explained that the loss of pandemic-era hold-harmless protections is reducing funded ADA and, in turn, projected revenues.

Director of Fiscal Services Christina Choi presented the financial totals: “Total projected revenue is $264,000,000. Total projected expenditures at $292,000,000, summing to a net deficit spending of $28,000,000,” she said, adding that the combined general fund ending balance is projected at $135,000,000. For the unrestricted general fund Choi reported projected revenue of $171,000,000, projected expenditures of $179,000,000 (a projected net deficit of $8,500,000) and an unrestricted ending fund balance of approximately $78,000,000.

Choi walked the board through components of the projected ending fund balance and noted that committed funds had increased. The multi-year projection indicated the district expects to maintain a positive unrestricted ending balance across the next three years, though deficit spending trends were visible as one-time funds decline.

Board members asked no substantive questions during the presentation and ultimately voted to approve the first interim report; the motion carried 5–0. Staff said they will continue to monitor enrollment, ADA, and expenses and will update the board as planning proceeds.

The presentation and approved interim report become part of the district’s budget record for the 2024–25 year; staff noted continued attention to reserve levels and expenditure planning.