- From FY2017-18 through FY2020-21, MCSD revenues grew at a low annual average rate (0-3%), below historic long-term inflation (3%).
- During that period, expenditures grew at a high annual average rate (>6%), above revenue growth and above historic long-term inflation (3%).
- Although expenditure growth exceeds revenue growth, total revenues continue to exceed expenditures and net position continues to grow.
- The District continues to “grapple with uncertainty”; fees are not sufficient to cover service costs, requiring the use of tax revenues (MSR Survey/Interview, 2022).
- MCSD’s FY2022-23 budget (pg. 10) balances revenues and expenditures but notes that it continues to “grapple with uncertainty.”