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Mill Valley School District projects $3 million deficit; trustees urged to weigh parcel tax and spending choices
Summary
District finance staff presented the second interim budget showing a projected $3.0M deficit for 2025–26, a current reserve near 20%, and reliance on local parcel tax revenue; outside consultant Matt Phillips warned trustees not to rely on speculative state one‑time funding to close structural gaps.
The Mill Valley School District on March 5 told its board that it expects to end this year with a roughly $3.0 million deficit and will need near‑term decisions about revenues and spending.
Finance staff presented the district's second interim report for 2024–25 (July–January), saying locally generated property taxes and the parcel tax remain essential to the district's operations. The presentation showed the district meeting state minimum reserve rules but falling short of a board policy target range of 25%–35% for local reserves.
Why it matters: The board must balance program supports against a structural budget shortfall. The district projects that, absent changes, reserves could fall toward the low‑teens in out years and that some one‑time…
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