Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Finance topic
No spam. Unsubscribe anytime.
Superintendent warns of possible $10 million federal hit; board advances Measure M bond steps
Summary
Superintendent Heather Contreres told the board the district is "in a wait-and-see moment" after national developments that could reduce federal funding by about $10 million; trustees approved a resolution asking counties to levy taxes for the Measure M Series A bond sale to begin capital projects.
Superintendent Dr. Heather Contreres told the Pajaro Valley Unified School District board on July 16 that the district is monitoring national developments that could reduce federal education funding and said staff were preparing contingency steps. "We will probably see a $10 million impact," she told trustees, adding that district leaders were making "swift moves to ensure that we will have funds available to continue providing all of the services that our students deserve."
Contreres highlighted Measure M projects already underway — painting, roadway repairs and other voter-approved capital improvements — and said the district will continue to prioritize student services despite financial uncertainty.
Later in the meeting the board voted to adopt Resolution 25-26-01, authorizing the district to seek county action to levy ad valorem taxes and move forward with an initial issuance (Series A) of Measure M general obligation bonds for fiscal year 2025–26. The resolution requests county tax-rate-setting and the provision of tax revenues needed to support the bond debt service during the fiscal year. Trustees said issuing the first series will allow construction and Measure M projects to continue on schedule.
Board members stressed the need for transparency about budget choices and asked staff to keep the community informed about whether funding cuts necessitate program changes. The board also scheduled follow-up work and a short recess to continue other agenda items.
What’s next: The district’s financial advisor will prepare a schedule of estimated principal and interest for the proposed Series A bonds and staff will work with county offices to finalize levy and collection mechanics before issuing the bonds.
