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Paramount Unified projects enrollment decline, warns of multi-year budget pressure
Summary
Business Services presented estimated 2023—24 actuals and the proposed 2024—25 budget: enrollment is projected to fall below 12,000 (11,588), general fund revenues near $261 million, combined expenditures about $287 million, and multi-year projections show rising deficits as one-time COVID-era funding sunsets.
Paramount Unified School District business officials presented year-end estimated actuals for 2023—24 and the proposed budget for 2024—25, warning of continuing fiscal pressure if one-time funds phase out.
Miss Patricia Two, assistant superintendent of business services, and Christina Choy, director of fiscal services, told the board the district projects enrollment will drop to about 11,588 students for 2024—25 and noted an attendance projection of roughly 92 percent. The presentation said total general fund revenue for next year is projected at about $261 million; combined expenditures across funds are projected near $287 million for 2024—25.
Choy said the district is forecasting a net surplus for the current year of about $8.9 million (general fund unrestricted), yielding an estimated ending unrestricted fund balance of roughly $85.6 million. However, multi-year projections show increasing deficit spending after one-time COVID and other federal/state one-time grants sunset, and the district expects to monitor and mitigate that trend before adoption.
Presenters noted roughly 80 percent of expenditures are salaries, the district must set aside routine restricted maintenance (3 percent) and contribute to special-education costs when not fully funded, and the proposed multi-year projection shows a small positive ending balance in 2026—27 only if current assumptions hold.
The board heard the presentation and was told the proposed adopted budget will be presented for formal adoption at the June 25 meeting with the option to bring revisions before July 1 if changes occur in the state budget or local assumptions.
