Chief Business Officer Wayne Martin discussed the district’s second interim budget report. The district is filing for a positive certification, the best of three possibilities. It means the district is solvent this year and the next two.
Superintendent Steve Lowder made a point of having Martin repeat the district’s monthly payroll — $20 million a month.
The district’s “undesignated unappropriated” fund balance each of the next three years is $26 million-$27 million. The district owes a total of about $2.2 million over this and the next two years to the state redevelopment agency.
The district is deficit-spending to the tune of $4.7 million this year, about $1 million next year and another $1 million the year after. The district’s beginning fund balance for this three-year cycle is $44.7 million. It’s ending fund balance for the cycle is $35.6 million.
“What we’re looking is, ‘Can we survive this year and the next two years,’” Lowder said. “This say, ‘yes.’”
Martin said the economy is headed in the right direction but noted the budget stalemate in Washington, D.C., continues with no end in sight. He said $2 million in categorical funds are tied to the discussions in Washington.
By the way, Martin will retire June 30, and SUSD will be looking for a new chief business officer. Wondering if you have what it takes? Here’s the job description.