School District Presents Budget

The Santa Barbara school district bean counters presented a budget for 2013-2014 that will soon become obsolete when the governor signs into law a state budget that includes a new school finance scheme. This year, the district netted a one-time $4.3 million infusion from the dissolution of the redevelopment agencies after spending some of that money on equipment and a two percent bonus for employees. The money was placed in a special reserve fund. Next year the district expects about $3 million in revenue from the new parcel taxes. For the second year in a row, the district ended the year with a surplus.