By Richard Bammer
The Vacaville Unified annual budget for the current year has come into greater focus with the second interim report aired Thursday in the Educational Services Center.
Jennifer Stahlheber, the chief business officer, presented the budget report and multiyear projections during a governing board meeting.
By law, California school districts must submit two interim budget reports for the current fiscal year, usually by mid-December and mid-March, to let state Department of Education officials know that they can pay their bills.
Stahlheber told trustees that the projected budget for the current academic year is some $120 million for a district with 12,600 students, nearly $2 million more than the first interim budget report. Expenses will outpace revenues by $7 million, leading to deficit spending. The ending fund balance is projected to be $16.5 million, the beginning fund balance $23.6 million, with mandatory prudent reserves of $3.6 million for economic uncertainties.