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State revenue shortfall cited; financial adviser urges caution on using reserves for Q‑Hut replacement
Summary
Jackie Olsen of the Oregon Association of School Business Officials told the board the state budget is down about $500 million and recommended against using ending fund balance to replace the Q‑Hut, suggesting loans or delaying the project instead.
Jackie Olsen, Executive Director of the Oregon Association of School Business Officials, presented a financial briefing on the current legislative revenue forecast and district options for capital projects.
Olsen told the board that the state budget is "down approximately $500 million," but she said protections such as the Education Stability and Rainy Day Fund reduce the immediate risk of cuts. On the question of replacing the Q‑Hut, Olsen said the district technically could fund a replacement from ending fund balance but she would "not recommend it" because of volatility in SSF funds and ORCA enrollment; she also advised against relying on donations because of timing and rising construction costs. Olsen suggested alternatives such as loans, saving, or delaying the project to maintain a higher ending fund balance.
Board members asked follow‑up questions about fundraising and contractual obligations; Olsen emphasized timing and sufficiency of funds as the primary concerns.
