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IUSD CBO warns COLA changes and declining enrollment could mean multi-year shortfall; audit returns clean opinion with findings
Summary
Assistant Superintendent Rafael Guzman told the board the governor's 2026-27 budget reduces the projected COLA, producing an estimated $3 million net effect for the district over three years; auditors issued an unmodified opinion on financial statements but noted state-side qualifications and some compliance findings.
The district's chief business official gave the board a comprehensive briefing on cash flow, the governor's proposed 2026-27 budget and the district's 2024-25 audit during the Feb. 18 meeting.
Rafael Guzman told members the governor's proposed 2026-27 COLA was adjusted down in the January-to-May budget sequence, and that over the next three years the reduced COLA assumptions create a roughly $3 million reduction in the district's projected revenue if all other assumptions hold. "When you look at the COLA…
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