School board approves spending $1.5M in reserves to ensure stability
Tuesday, May 19 school board members continued planning for the 2020-2021 General Fund Budget by approving parameters for Superintendent Dr. Wade Smith and his administrative team to use for finalizing the document. Among many planning assumptions (See below), the Board authorized the Superintendent to access $1.5M of reserves to help maintain staff and student programs next school year.
Superintendent Dr. Wade Smith praised the school board for its sound past budgeting practices which put the district in strong financial standing with adequate reserves to help soften anticipated budget shortfalls.
Superintendent Smith says that OSPI estimates and legistlative contacts forecast state funding dips will like be less drastic next school year but are expected to be more significant in 2021-2022. By statute a draft budget must be completed by July and must be approved by the Board in August.