It doesn’t look like any cost-cutting measures will be needed for the William S. Hart Union High School District this year.
While deficit spending is being projected for the current school year and the two subsequent years, the district’s reserves are high enough for the board to give a “positive” certification on the first interim financial report.
That is expected to happen at Wednesday’s regular board meeting, along with the formal approval of interim Superintendent Michael Vierra receiving a contract to be the permanent head of the district.
Vierra has been acting as the interim superintendent since July while a search was being conducted following Mike Kuhlman leaving the district at the end of the last school year. It was announced last month that Vierra was selected unanimously by the board.
The projected budget for the 2024-25 school year shows about $342 million in expenditures against $313 million in revenue, with a total reserve of $34.2 million. That represents approximately 10% of expected expenditures for the year, well above the 3% that the L.A. County Office of Education requires for certification.
Of that reserve, about $10.2 million is set aside for economic uncertainties, with the rest not yet assigned for spending.
Last year, the board approved a fiscal stabilization plan, which included layoff notices — many of which were eventually rescinded following retirements and employees voluntarily leaving the district — to help get the district’s finances back in check. That action won’t be necessary this year as things are currently projected to stand.
Of the projected spending for this year, about $270.7 million is for employee salaries and benefits.
Approximately $114.8 million of this year’s budget is tied up in restricted funds, meaning that money can only be used for a specific purpose.
Deficit spending is projected to increase from $29.6 million to $30.3 million next year, followed by $26.8 million in the 2026-27 school year.
Wednesday’s meeting is slated to begin at 7 p.m. at the district’s administrative office, located at 21380 Centre Pointe Parkway. To watch the meeting online, go to tinyurl.com/yckv445p.
