Seattle Public Schools might dip into its reserves for a second year in a row — and borrow money from other district funding pots — to cover the majority of a projected budget gap of more than $100 million next year.
That's according to district leaders' latest proposal, unveiled Wednesday, to balance the budget for the 2024-25 school year.
In all, the district would use $32 million of its ending fund balance, then borrow between $25 and $35 million from its capital building fund. That's called an interfund loan, and the district would need to repay the fund, with interest, by June of 2026.
On Wednesday, Superintendent Brent Jones repeatedly acknowledged tough decisions lie ahead.
"Please know we are carefully considering all perspectives as we navigate these complexities and strive to make decisions that are in the best interests of our students and staff," he said.
Other proposals in the financial plan include changing school start times from a two-bell system to three bells in 2025 — something parents rebelled against the last time it was proposed.
The district has operated on a two-bell system since the 2016-17 year, as part of an effort to start the school day later for teens, who need more sleep than younger kids.
But district officials now say switching back to three bells would shave about $9 million from its transportation budget — largely because about 80 fewer buses would be needed daily.
The district also proposes cutting central office staffing and spending by about $8 million, and saving about $7 million by reducing school staffing.
The plan also suggests the school board delay the repayment of the rainy day fund they drained to cover last year's $131 million budget deficit.
The district also may once again charge students to participate in sports. The district hasn't collected athletic fees since 2015, when the district received $2.7 million to cover transportation costs. But now, district officials say the change could generate up to $1.1 million in revenue.
No school closures are slated for next school year, but they might be part of a multi-year plan expected out in May.
The school board won't vote on next year's budget until July.
