District outlines 2026–27 budget and plans to prepay COPs to cut debt costs

District fiscal staff presented the 2026–27 budget overview and recommended prepayment of certificates of participation (COPs) as a capstone of a multi‑year debt‑reduction plan.

The presenter summarized revenue projections and key assumptions, saying LCFF revenue is about $18,300,000 and total general fund revenue is projected at approximately $31,300,000, with a projected ending fund balance just under $6,000,000. The presenter noted an ADA projection of 91.6, and cited COLA and LCFF maintenance factors as inputs to the revenue forecast. Special education contributions were discussed: the presenter said the district projects a special education cost contribution of roughly $2,200,000 this year and noted that figure could rise to about $2,400,000 depending on the May revise and SELPA allocations.

Keith Weaver reviewed the district’s COP debt‑management work, explaining the district originally issued roughly $6.9 million in COPs, has $1,250,000 on deposit, and currently has about $3.75 million outstanding. Weaver recommended depositing an additional $2,180,000 to US Bank to permit full prepayment on August 1. He estimated combined benefits from investment earnings and avoided future interest would approach $1 million: “That amounts to $847,000 in in cost savings,” Weaver said, and he also cited roughly $130,000 in investment gains. Board members discussed timing and the per‑day interest cost if payment were delayed: “for every day that is outstanding… I think it's $330 a day in interest that we would pay,” a presenter said during the discussion.

Trustees moved and approved the resolution authorizing prepayment steps and related legal and administrative actions. The board also approved associated items to terminate financing arrangements and to authorize special counsel to support the prepayment process.