Belmont-Redwood Shores district plans $5.7 million deficit budget: Interim superintendent named

While the district anticipates generating $65.1 million in revenue, there’s a budgeted $70.9 million for expenditures, Matsumoto said.

“We’ve built up reserves over COVID and are now running strategic deficits in order to spend that down,” Matsumoto said.

For the upcoming school year, the district budgeted $4.9 million in reserves, including nearly $2.8 million that is in excess of the state’s minimum required 3% reserve level.

“This is going toward balances for economic uncertainty or giving us that runway to close our deficit over time,” Matsumoto said.

The upcoming school year’s budget also includes a settlement amount of approximately $240,000 to be paid to Genentech, which recently won a lawsuit against San Mateo County for taxes levied between 2000 and 2005. All districts and county entities are expected to pay a sum back to the biotech company in the upcoming school year, however, updates and details have still not been confirmed by the county assessor’s office, Matsumoto said.

“We’re in the process of making sure we’re accounting for it but hopefully we get better news on it,” Matsumoto said. “It’s still included in here for now.”

The Board of Trustees also unanimously approved the appointment of Craig Goldman as the district’s interim superintendent beginning in July until the board finds someone to fill the position permanently.

Current Superintendent Dan Deguara announced he would be leaving the district to take the superintendent position at the Los Gatos Union School District, beginning July 1.

Goldman served as the district’s chief business official from 2015 to 2020, after he was the superintendent for the Mountain View Whisman School District for four years. He’s coming out of retirement to take the helm of the district through the transition period.

“The board is confident that Craig’s knowledge of BRSSD combined with his extensive education leadership experience will provide stability and continuity while the district continues its superintendent search,” Board President David Koss said.

Goldman will be paid $1,200 per work day and up to a salary of $59,550, Koss said.

The district hopes to name the next superintendent in September.