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Board holds public budget hearing, approves tax anticipation note and Education Protection Account resolution
Summary
At a public hearing on the 2025‑26 preliminary budget the district reported estimated actuals for 2024‑25, local revenue commitments from community partners, a projected 2025‑26 deficit of about $2.7 million, and trustees passed routine fiscal resolutions including a tax anticipation note and Education Protection Account allocations.
Mill Valley, Calif.
The Mill Valley School District held a public hearing on its 2024‑25 estimated actuals and the proposed 2025‑26 budget on June 5. Staff reported the district closed as many accounts as possible for 2024‑25 and presented an initial 2025‑26 budget that incorporates recently approved tentative agreements. The presentation listed local one‑time and multi‑year revenue commitments from community partners and a projected 2025‑26 structural deficit of approximately $2.7 million.
Business staff noted that federal Title I, II and IV funding were held flat after late state guidance but that Title III funding is projected to be cut, increasing uncertainty for some programs. District staff said they did not budget for a discretionary per‑ADA governor's grant because that funding remained uncertain. The presentation showed salaries and benefits comprising roughly 82% of the budget after the recent settlements.
During the hearing trustees and staff discussed revenue timing, the potential for a 45‑day budget revision in August, and the need to watch discretionary grants and one‑time funding sources closely. Staff referenced commitments by community partners (including a one‑time $500,000 TK commitment and multi‑year support for STEAM and counseling) and said accounts were being set up to track those funds.
The board unanimously approved a series of routine fiscal resolutions required for budget adoption: a tax anticipation note resolution to allow county short‑term financing for cash‑flow needs; a resolution documenting Education Protection Account (EPA) allocations (Prop 30/55 funds); an authorization for budget transfer adjustments needed during year‑end closing; and an authorization to sign district documents as presented.
Next steps: the district will return with final budget adoption at a future meeting after incorporating any updated revenue information and any necessary 45‑day revisions.
