Wednesday Dec 22 2010
School district to meet expenses
By: Stephanie Dumm News Messenger Reporter
$9.5 million in budget cuts to be made over 3 years
During Tuesday’s briefer than usual school board meeting, the district confirmed its ability to meet its financial obligations for the remainder of this year and the next two years. The Western Placer Unified School District board certified its first interim report as a positive. To retain a positive certification that the district can meet its financial obligations this year and the next two years, the school district’s assistant superintendent of business services Joyce Lopes said $9.5 million in ongoing budget reductions will need to be made over the next three fiscal years or “identify other available ongoing revenues.” “The board confirms its fiduciary responsibility to maintain fiscal solvency for the current and subsequent two fiscal years,” Lopes said. Lopes also gave an overview of the changes to projected revenue for this year. Property taxes have declined by 8 percent instead of the projected 3 percent, according to Lopes. This means the estimated property tax received by the district was reduced from $34.8 million to $32.7 million. The reduction in property taxes means the district will receive less money for their Basic Aid Charter School Supplemental funding, according to Lopes. She said the district was supposed to receive $3.5 million in the supplemental funding but will now receive $1.5 million. According to previous News Messenger reports, Basic Aid is when the district’s property taxes exceed the district’s revenue limit. Since the district sponsors Horizon Charter School, the district only receives 70 cents on the dollar for what they would have received in Basic Aid monies, according to previous News Messenger reports.