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Finance director: rising PERS costs have already added $440,000 to this year's expenses
Summary
Finance director Mr. Wong told the board that PERS cost increases have cost the district "more than $440,000" in a two-month span compared with last year and credited a PERS reserve fund with helping buffer uncertainty.
Finance director Mr. Wong told the board he is tracking the district's rising PERS obligations and the impact on the operating budget. "Now within 2 month, has cost us more than $440,000, just compared to last year," he said, and explained he will continue reporting monthly projections so trustees understand the cumulative effect.
Wong described the district's PERS reserve as a deliberate cushion and said the fund should help the district avoid immediate cuts to teacher positions if the state reduces education funding. He and the superintendent said they will coordinate scenarios so the board can weigh options ranging from reallocating nonclassroom spending to personnel actions if required.
