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District financial update: second interim shows deficit spending, falling COLA and enrollment decline
Summary
Assistant Superintendent Kevin Franklin told trustees the second interim budget projects continued deficit spending, a decline in funded COLA and a small enrollment drop; the board approved the second interim report later in the meeting.
The New Haven Unified School District’s second interim budget update reviewed March 3 projected revenues, enrollment and multiyear reserves and warned the district is drawing down reserves at an estimated $6 million to $7 million per year at current spending levels.
Kevin Franklin, assistant superintendent of business services, said the funded cost-of-living adjustment used in state revenue calculations fell to about…
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