The Del Mar Union School District (DMUSD) approved its first interim budget for 2016-17 at its Dec. 14 meeting. The district is projecting $53,243,786 in revenues and $53,437,410 in expenditures, which represents a deficit of $193,624.
“I anticipate that we will have a balanced budget again,” said DMUSD Assistant Superintendent of Business Services Cathy Birks, noting that they typically see deficit spending at the first interim budget.
Birks recalled how last year the first interim budget deficit was around $200,000 and they ended the year over $400,000.
The district’s reserves are projected to be at $11.1 million, which is above the board-approved 15 percent reserves and the state-mandated 3 percent.