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Finance director flags PERS increase; board told January report will be more detailed
Summary
Finance Director Tom Andrews reported current enrollment figures and warned that rising PERS costs are a concern; he said the district is increasing the PERS reserve and planning 5to6 years ahead, and that a fuller financial report will be provided in January.
Finance Director Tom Andrews updated the board on current enrollment and preliminary finances, saying a deeper financial report will be available in January. He told the board that an increase in PERS employer costs is a concern and that he has already begun increasing the districts PERS reserve in anticipation of higher rates over the next five to six years.
Andrewss remarks prompted clarifying questions from board members about enrollment trends and long-range fiscal planning. The January financial report will include more detailed projections and the board signaled interest in reviewing multi-year scenarios as part of budget planning and discussions of capital needs tied to the Long Range Facilities Plan.
Provenance: topicintro SEG 023; topfinish SEG 023
