Governing board adopts $50.4 million FY2027 budget and agrees to cash‑fund proposed $15.7 million athletic facility

The Charter School Governing Board voted to adopt a $50.4 million fiscal year 2027 budget and to proceed with a plan to cash‑fund a proposed charter school athletic facility with an engineer’s probable cost estimate of $15.7 million, officials said at the board’s meeting.

Deputy Financial Services Director Nicole Riley told the board the FY2027 total reflects recognition of committed reserves, transfers of capital surtax receipts and movement of the half‑cent surtax to operating. "Your fiscal year 2027 budget is at $50.4 million," Riley said, and the package includes consolidated uses of reserves and identified surtax receipts to cover the athletic facility design and construction costs.

Board members pressed staff on the source and timing of the funds and on how the facility would be paid. Riley said the 15.7 million figure comes from Avalon Engineering’s 100% design opinion of probable cost and that some expenditures (laptops, IT equipment) were being covered from committed reserves. On using cash rather than issuing debt, staff estimated the difference in interest over a 20‑year financing would be roughly "about 7 or $8 million". Mark Mason, assistant city manager, agreed staff could calculate a more precise debt‑vs‑cash comparison for the board and community.

Board members also discussed the timing of bidding and construction. Staff said Avalon and the CIP team were finalizing bid documents and expected to proceed to bid "soon," and that the planned half‑cent surtax receipts would be received across three years (the first of three payments already recognized). Members asked that the RFP process consider parking management and staging to preserve some student parking during construction.

The board moved and seconded the motion to adopt the FY2027 budget (New Business Item A). The Chair called the question; the motion carried by voice vote.

What happens next: staff will finalize bid documents and provide a debt‑versus‑cash savings calculation for the board and community. The board also asked staff to include construction staging and parking management considerations in the procurement documents.

Quotes from the meeting: "This is the second and final budget amendment for 2026," Nicole Riley said of the earlier amendment; speaking about the FY2027 total she said, "your overall total for 27 is 50.4 million." Mark Mason summarized the interest tradeoff: "about 7 or $8 million over the term of the debt."

Ending: The board adopted the FY2027 budget and the funding approach at the meeting; staff will return with more detailed calculations and procurement materials as the project moves toward bidding.