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Board receives stark budget warning: staff to refine cuts and convene fiscal task force
Summary
Chief business staff reported un-audited 2024-25 actuals showing lower unrestricted reserves and warned that the district faces a structural deficit driven by declining unitary tax revenue, expiring one-time state funds, rising pension costs and TK expansion; staff will meet unions and convene a fiscal sustainability task force and return recommendations this fall.
The San Luis Coastal Unified School District—board on Sept. 16 heard a detailed fiscal briefing from Chief Business Officer Mr. Pinkerton and un-audited financial results from district accounting staff, who said unrestricted general-fund reserves were about 4.98% (approximately $7.3 million) at the close of 2024-25 and that the district faces a structural deficit unless new revenue or reductions are adopted.
CBO Mr. Pinkerton told the board the district has seen a long-term drop in unitary tax receipts and the end of certain one-time state…
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