The Castaic Union School District governing board is set Thursday to approve the district’s second interim financial report and the next seven-year projections of its student population.
Based on the demographic report included in the meeting agenda, the student population for the district is projected to increase by 667 resident transitional kindergarten through eighth grade students over the next seven years, a growth rate of 34% if anticipated development takes places on time.
There are approximately 2,532 active, planned, or future units in the district’s boundary that could be built over the next seven years, according to the report. If any of these large projects are further delayed or reduced, then it would have an impact on reducing the student growth.
The TK to sixth grade resident student population is projected to increase by 516 students by the 2031-32 school year.
The report indicates that the Northlake Hills Elementary School area is expected to be the most impacted by the new development, bringing a projected 362 additional TK-6 students.
The Live Oak Elementary School area is also gaining 165 students, and the Castaic Elementary School area could lose about 30 TK to sixth grade students through 2031-32 school year, according to the report.
The report indicates middle school grades are expected to increase by approximately 152 students over the next seven years.
The board is also recommended to approve the certification for the second interim, which reflects projected revenues, expenses, and year-end fund balances based on data through Jan. 31.
According to the report included in the agenda item, the district is projecting to have enough available reserves this school year and the next two years to meet the state’s requirement of 3% of projected expenditures.
The district is projected to have reserves of about $1.6 million after this year, followed by $1.5 million after next year and then $1.5 million the following year, according to the report.
The district is projected to be deficit spending this year and the next two subsequent years. It is projected to spend about $32.7 million this year, against about $29 million in revenues, a difference of nearly $3.7 million that is set to come out of the district’s fund balance. The total ending fund balance for this school year is projected to be nearly $5.9 million.
Thursday’s meeting is scheduled to begin at 6 p.m. at the district’s administration office, located at 28131 Livingston Avenue.
