December 10, 2019 Board Meeting
Highlights from the Meeting
- The Arcadia High School track is due for an overhaul. The entire track surface is to be removed and replaced with new material and is scheduled to take place between May and August 2020. This will overlap the school year by 3 weeks on both sides. The total cost for the project is $2.3 million.
- The accounting firm, Nigro & Nigro, PC, conducted a financial audit of the district accounting practices and had no major findings.
- The first interim financial statement was delivered:
- The 2018-2019 budget had an unaudited deficit of $1.6 million while 2019-2020 has a projected deficit of $7.5 million.
- Upcoming unfunded pension obligations and decreased cost of live adjustment (COLA) increases to the Local Control Funding Formula (LCFF) are also expected to impact future budgets negatively.
- Total student enrollment is expected to continue to decline also affecting revenue.
- A coordinator position for the Performing Arts Center was approved. It is hoped that increased rental use of the space will eventually bring it to be a financially self-sufficient facility.
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