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Board approves $50 million not‑to‑exceed resolution tied to financial stabilization plan
Summary
Trustees approved a separate not‑to‑exceed $50,000,000 resolution related to the district's financial stabilization plan; presenters said DPI was consulted and staff believes the plan will allow the tax levy to remain flat or decrease under the assumptions discussed.
Finance staff presented a not‑to‑exceed $50,000,000 resolution intended to support a financial stabilization plan. Staff said they had consulted with the Department of Public Instruction (DPI), which raised no objection to the approach, and that the plan, as presented in a prior workshop, could allow the tax levy to be flat or decrease under conservative estimates.
The presenter emphasized the amount is a cap and that future sourcing and specific borrowing details would be determined later; board members had an opportunity to ask clarifying questions before the motion to approve passed. Staff noted unknown variables, including voucher dynamics, which affect both expenses and revenues and are being monitored with DPI.
