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Board approves second‑interim financial report and ratifies new chief business officer contract
Summary
Trustees approved the 2nd interim fiscal solvency report showing projected 2023‑24 revenue of roughly $139.6M, expenditures of about $140.7M (a projected shortfall ~ $1.1M) and combined reserves near $45M; the board also approved the chief business officer contract (base $275,000 for 23‑24).
Trustees voted to approve the district’s 2nd interim fiscal solvency report after staff summarized revenue and expenditure assumptions, one‑time funds, and reserve projections. Staff estimated property‑tax revenue growth and listed one‑time coronavirus relief/expanded‑learning funds of roughly $4.7M; combined unrestricted reserves were reported at about $45M (~32% of the budget). The report projects general fund revenue of approximately $139.6 million and expenditures of about $140.7 million for a projected shortfall near $1.1 million for 2023‑24.
Separately, the board approved the employment contract for the district’s incoming chief business officer. The verbal summary stated a base salary of $275,000 for 2023‑24 and $283,250 for 2024‑25, an annual one‑step increment (3%), a $600 annual cellphone stipend and a $535 monthly car allowance; the board voted to approve the contract.
