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Lakewood treasurer warns of multi-year deficit spending; local taxes make up majority of operating revenue
Summary
Treasurer Roadie told the Lakewood City Schools board that personnel consumes about 82% of expenditures and recent forecasts show the district projecting multi-year deficits, relying on cash balances while per-pupil daily cost is reported at $127.
Treasurer Roadie told the Lakewood City Schools Board of Education on Tuesday that the district’s February general-fund forecast projects multi-year "deficit spending" and will draw down cash reserves unless revenue or expenditure plans change. "If we were to receive no income, how many days could we continue operations?" Roadie asked while explaining the days-cash-on-hand metric, which the presentation showed falling from about 196 to about 178 and then trending lower.
The forecast presented that local taxes account for the largest share of operating funding (the presentation cited about 62% when counting residential, commercial and public-utility taxes), while district residents specifically bear about 43% of the total operating burden. Roadie said personnel costs are the district’s primary expense at roughly 82% of spending and reported a daily cost per pupil of $127.
Why it matters: The figures matter because they frame the timing and scale of any budget decisions the board might consider. Roadie said revenues were slightly higher in the February update than the October forecast — in part because of a county refund tied to a property revaluation — and that expenditures trended lower due to personnel adjustments, but the longer-term projection still shows that the district will spend down reserves.
Board members pressed for clarity on the different percentages in the slide deck. Roadie explained that 62% referenced all local tax sources collected by the district, while the 43% figure represented the portion paid specifically by district residents. He emphasized that the forecasts are monitored monthly and that the district maintains a cash-balance policy with a target range of 90–150 days on hand.
The treasurer said the district will continue to track enrollment and staffing trends and adjust the forecast as new data arrive. He recommended continued attention to timing for any revenue-raising measures or expense reductions and invited further questions and staff analyses in future meetings.
The board did not take a policy vote on the forecast during the meeting; the presentation was provided for discussion and monitoring.
