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Board hears budget update; state correction pressures ending fund balance
Summary
District staff warned a state correction reduced the district's current-year ending fund balance and could constrain cash through June 30; staff said they are "clawing" to avoid program reductions while preparing next year's budget.
S5, the district's staff presenter, told the board the state made a payment correction that "is pushing our ending fund balance" and that the district expects low balances through June before stabilizing in the following year. S5 said the district is working to avoid reductions but acknowledged the budget is 'tight' and discussed board policy triggers tied to fund-balance percentages (target 8%, action below 6%).
Board members asked for additional detail and S5 said staff will run calculations and return with updated projections. The board reviewed the budget calendar and set public-notice and hearing dates leading to the formal budget process. S5 said staff are preparing the budget for next year and will provide hard-copy binders before the budget meeting.
