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Forecast: money runs short by 2031 unless voters renew the income tax

Financial

What happened

The district's August 2026 five-year forecast says it will start spending more than it takes in from FY2028. If the 1% earned income tax is not renewed, its cash would fall from $15.7 million in June 2026 to about -$3.1 million by June 2031. The tax must be renewed by voters before the end of 2027.

Why it matters to families

The income tax pays for daily school operations. If it ends, the district says it would face large shortfalls, which could mean cuts to staff and programs.

The evidence

The forecast filed August 24, 2026 shows deficits starting in FY2028 and a cash balance before renewal of $15,670,711 for FY2026, falling to ($3,132,001) for FY2031. With the renewal included, ending cash stays near $7.4 million in FY2031. The board voted on May 18, 2026 to proceed with the renewal.

The source

Five-year forecast, FY2027-FY2031 (Aug. 24, 2026)

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