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School district projects about $19 million deficit as state May revise trims Prop 98
Summary
A district presenter told attendees the district expects a roughly $19 million deficit this year, a $29 million ending balance largely tied up in restricted funds, and uncertainty over an estimated $1.3 billion in Prop 98 funding the governor left unallocated in the May revise.
The district presented a second‑interim budget update showing an expected deficit of about $19 million for the current year and a projected ending fund balance of roughly $29 million, of which “about $22 million” is restricted, the presenter said during a public briefing.
The presentation laid out a three‑year solvency outlook the district must maintain. The presenter said the district is required to hold a 3% reserve — roughly $5 million given current expenditures near $160 million — and that unrestricted, unassigned funds are modest (about $1.5 million). “We will have a deficit this year of about 19 million, just north of 19 million,” the presenter said.
Why it matters: the district’s revenue outlook…
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