FY’22 Budget Planning Update

At the February 16 board meeting, the FY 21 Revised Budget was approved This FY 21 General Fund Revised Budget showed an anticipated deficit spend of -$5,132,743.  As previously discussed, this will leave the District’s total general fund balance at 1.6 percent of operating expense, which is six days of operation.  School Board Policy 723 establishes a minimum fund balance goal of 8.0 percent, which is 30 days of operation.  Directly related to this is the development of the FY 22 Preliminary Budget, which will be presented to the board in June.  District leadership will be defining a budget reduction plan to reduce expenses by $7.56 million for FY 22.   Tonight's presentation is an update of the work that has been done so far on the FY 22 budget plan, and outline the timeline of the work that will be accomplished throughout March and April. This is information only. No action will be required tonight.

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