San Marcos school board passes $227 million budget, avoids shortfalls
The San Marcos Unified School District board tentatively passed a $227 million budget Tuesday, narrowly avoiding anticipated deficits for the 2018-19 school year.The school district, which serves about 20,000 students in North County, originally expected to run a deficit of more than $17 million for the coming school year. However, increases in state education funding helped stave off that shortfall. The district made spending cuts in recent months, and drew on other funds to close the remaining gap between revenue and expenses.The budget approved Tuesday projects that San Marcos schools will spend about $227.3 million in the 2018-19 school year, and bring in revenues of $220.5 million. The balance of about $6.8 million comes from district reserves, and from one-time state funds, said Assistant Superintendent for Business Services Mark Schiel. That will leave the district with a balanced budget, but with little left over.“We will have our required 3 percent minimum reserve, but there will be nothing above and beyond that” at the end of next school year, Schiel said.California state law requires districts to maintain reserves of at least 3 percent, Schiel said, but the average reserve for Unified School Districts is about 17 percent. If a school district falls too far below the requirements for maintaining balanced budgets and adequate reserves, the County Office of Education may step in to offer support, and intervene directly in spending decisions and labor agreements, according to the state Legislative Analyst’s Office.
READ MORE VIA Source: San Marcos school board passes $227 million budget, avoids shortfalls – The San Diego Union-Tribune
