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RCSD Governing Board Approves 2024-25 Fiscal Year Budget

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RCSD Governing Board Approves 2024-25 Fiscal Year Budget

The RCSD Governing Board adopted its Local Control Accountability Plan (LCAP) and $143,441,439 total operating budget for Redwood City School District (RCSD) for the 2024-25 school year during its regularly scheduled meeting on Wednesday, June 26, 2024. The Board action took place following a public hearing on June 20.

The approved budget for 2024-25 includes detailed multi-year projections in revenues and expenditures for 2024-25, 2025-26, and 2026-27.

2024-25 Operating Budget:

  • Projected General Fund Revenues: $138,715,059
  • Projected General Fund Expenditures: $143,441,439
  • Projected General Fund Ending Balance: $15,566,229

The majority of RCSD’s total operating budget, 80%, funds employee salaries and benefits. This is broken down as follows:

  • Teacher and Classroom Support Salaries = $52.9 Million
  • Classified Support = $13.6 Million
  • Administrators and Supervisors = $12.1 Million
  • Benefits and Retirement = $37.7 Million

The budget also accounts for $67,369,707 in expenditures necessary to implement the State required Local Control Accountability Plan (LCAP). The LCAP amount includes $15 Million expected to be principally directed toward the success of English Learners; Foster Youth, Homeless, and Low-Income students.

With its budget adoption, RCSD is aligning resources to its mission, vision, values, and goals to serve RCSD students. In addition, the district is prioritizing transparency, accountability, and fiscal stabilization. In early 2024-25, the school district will engage its community in its Budget Renewal Initiative to guide the district and its community through the necessary budget reductions to be implemented for the 2025-26 school year. The need for budget adjustments arises from the expiration of one-time funds provided by federal and state grants, which have supported all public schools over the past few years due to the COVID-19 lockdown. A second set of funds will conclude in 2026, requiring proactive measures to align RCSD’s budget with the district’s long-term financial realities.

The 2024-25 fiscal year takes effect July 1.