By Richard Bammer
New state revenues will not match expenses during the 2017-18 academic year, Vacaville Unified’s chief business officer told district leaders during a governing board meeting late last week.
During a budget update in the Educational Services Center, Deo Persaud said the state’s 1.48 percent cost-of-living adjustment, or COLA, while welcome news, will not offset expenses that are “likely to exceed” 4 percent in the coming year.
Additionally, like all of California’s 1,000 school districts, Vacaville Unified continues to face, for the next few years, increasing pension costs for teachers and school-support, or classified, employees, he noted.
Sure to add to budget pressures that eventually will prompt calls for fiscal restraint, Persaud said district contributions to CalSTRS, the mammoth state teachers retirement system, will account for 12.6 percent of the budget in the current fiscal year, 14.4 percent in 2017-18, and 16.28 percent in 2018-19.
Source: CBO: New state revenues to fall short of expenses in 17-18