NEWS RELEASE: SD Unified Board of Education Supports Strategy to Reduce Projected Budget Deficit
SD UNIFIED BOARD OF EDUCATION SUPPORTS STRATEGY TO REDUCE PROJECTED BUDGET DEFICIT
$64 million of savings to decrease originally projected $176M deficit to $112M
SAN DIEGO (DECEMBER 10, 2024) – The San Diego Unified School District Board of Education voted unanimously on Tuesday night to certify the First Interim Financial Report for the 2025-26 budget as positive, as Interim Superintendent Dr. Fabi Bagula’s Administration continues to drive toward a zero projected budget deficit by June 2025.
“I appreciate the Board’s support for our strategy to get the budget to zero by June of next year,” said Interim Superintendent, Bagula, San Diego Unified School District. “We have a lot more work to do to get there, but I am confident we’re moving in the right direction.”
San Diego Unified School District in just three months has identified $64 million of savings to decrease the District’s projected $176 million deficit to $112 million for the 2025-26 budget year – a 36% reduction since the October projection.
There are some upcoming actions that will help to inform the District’s decisions for how it gets the projected budget deficit to zero.
- Governor’s Budget – In January, the District will have a better understanding of the funding allocation from the state
- Supplemental Early Retirement Plan (SERP) - In January, the enrollment period for the Supplemental Early Retirement Plan will close, which will tell the District how many team members choose to retire.
- Budget Workshop – In February, the District will have another budget workshop with the community, and that is where the Governor’s Budget, SERP, and all the work we are doing to get to zero, will be shared.
- Second Interim Report – In March the District will present the second interim budget to the Board of Education, and that’s where they will show how they get from $112 to zero.
- Lead Up to June Budget Adoption – After the second interim report, the District will continue to work on the budget, make adjustments, issue possible notices for certified or classified employees – if needed, review the Governor’s revised budget, and then in June, the Board of Education will adopt a final budget.
To learn more about the budget click here, and to learn more about San Diego Unified School District here.
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