Former CCSD CFO explains issues with using emergency funds to avoid budget deficits

LAS VEGAS, Nev. (FOX5) – The Clark County School District is facing a $20 million budget deficit, but the Las Vegas Valley is waiting to see what happens next.

According to the person who previously oversaw the budget, former CFO Jason Goudie, FOX5 has more on the options CCSD can take.

Despite what appears to be a large budget deficit, the district still has money in the bank. But touching it could lead to further problems, according to Goudie.

His recent firing brought the budgetary error to light.

He explains why the current state of CCSD has a lot to do with the state in which the district is located.

“By any measure, we are significantly underfunded in K-12 education in the state of Nevada,” Goudie said. He adds that Nevada is underfunded by more than $2 billion.

But in our region, CCSD recently identified a potential central budget deficit of around $20 million.

Goudie says the district has options to emerge from the crisis, including cutting costs and using the $150 million central reserve fund.

However, this could affect the district's bond rating. Think of it like accessing your 401(k) account early.

“There is a possibility that they could be damaged,” Goudie said. “When I first came here in 2017, the district was drawing on some reserves and ultimately there were some challenges from a bond rating perspective.”

FOX5 wanted to know what the budget deficit means for teachers and students.

FOX5 recently obtained a letter from CCSD about a restructuring at Robert and Sandy Ellis Elementary School in Henderson, telling families that six teachers will be impacted and will be teaching at a different grade level, while others will have the option to move on to others Schools in the USA to change district.

This will increase the class size by three students, but the principal is confident that the overall class size will remain smaller than in previous school years.

Despite the changes, Goudie had this to say about what's happening with CCSD teachers.

“There shouldn’t be teachers who don’t have a job. There are enough vacancies. “It's about whether or not certain schools can keep the number of teachers they have, then spread them out and then provide other teachers for the schools that have significantly more vacancies,” Goudie said.

FOX5 has reported that several CCSD employees were reassigned due to the budget cuts.

Goudie explains why. “Some schools may face greater budget challenges than others and may not be able to pay all of their staff with the funds provided,” Goudie said.

He says this is the principal's decision based on his budget and how he manages it.

The district is expected to complete its fiscal year 2024 report by Nov. 1 and next year's amended final budget by mid-December, according to CCSD.

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