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Palo Alto Unified projects multi-year deficit; board told budget will return for adoption June 18
Summary
District staff presented a 2024-25 budget that shows a projected multi-year structural deficit that could reduce the districtfund balance from $104 million to about $45 million in four years unless expenditures are curtailed; the budget and LCAP return to the board June 18.
District financial staff on June 4 told the Palo Alto Unified School District Board of Trustees that the 2024-25 proposed budget, while balanced for the coming year, projects several years of deficit spending that could cut the districtfund balance sharply if actions are not taken.
"We are estimating an ending fund balance of 104,000,000 for this fiscal year end," the presenter said during the budget presentation, and later warned that, at current revenue and expenditure estimates, that balance could fall to roughly $45,000,000 within four years without changes. The slide deck and staff discussion said the districtprojects structural deficits in the range of $12 million to $17 million in…
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