For Immediate Release
May 24, 2024
OSPI Approves Marysville School District’s Revised Comprehensive Financial Plan
The Office of Superintendent of Public Instruction (OSPI) approved the District’s revised Comprehensive Financial Plan, stating that OSPI and the Northwest Educational Service District (NW ESD) find the revised plan's content compliant with the binding conditions agreement.
Msvl. WA—On April 15, 2024, the Marysville School District submitted a Comprehensive Financial Plan under the financial binding conditions agreement with the Office of the Superintendent of Public Instruction (OSPI). On April 29, 2024, the District received a letter from OSPI with feedback outlining their questions about the initial Comprehensive Financial Plan. Under the direction of Dr. Robbins, Superintendent, and through collaborative efforts between district staff, OSPI, and the Northwest Educational Service District (NW ESD), the work focused on positively resolving questions about the plan. After that, the district submitted the revised plan to OSPI and the ESD on May 15, meeting the deadline.
Yesterday, May 23, 2024, the district received an email and a letter from OSPI. The email stated in part, “The analysis performed by OSPI and NW ESD does find the content of the revised plan to be compliant with the binding conditions agreement entered into in August 2023.” OSPI and NW ESD determined the district plan includes an acceptable projected cash flow and fund balance, accurate projections for a reduction of K-3 class size enhancement funds, appropriate food services expenditures, and final estimated fund balances, meeting binding conditions requirements for the 2024 - 2025 and 2025 - 2026 school years.
OSPI updated the binding conditions to provide advanced support to the district, which includes the requirement of increasing the frequency of check-ins and the district providing monthly enhanced financial reports. OSPI said the district may be eligible for release from binding conditions when it shows evidence that it will meet the conditions outlined in the revised comprehensive financial plan while meeting the financial benchmarks, including a 5% general fund balance at the end of the 2025 - 2026 school year.
“I am incredibly pleased that OSPI and the NW ESD have approved the revised comprehensive financial plan. This news allows the district to carry out the plan and share those steps with our community,” said Dr. Zac Robbins, Superintendent. “The support and guidance provided by OSPI and the NW ESD has been instrumental and appreciated. We recognize the seriousness of the work ahead and do not take it lightly. I want students, families, staff, and the community to know we will be okay. Our students are the district's top priority and the lifeblood of our schools, and they continue to be our focus,” he added.
The district’s next steps are to implement the budgetary decisions outlined in the plan for this year and to begin building the 2024 - 2025 school year budget.
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