Portola Valley Schools Foundation raises $1.27 million Portola Valley Schools Foundation raises $1.27 million (May 19, 2004)

By Marjorie Mader
Almanac Staff Writer

The Portola Valley Schools Foundation reached a milestone by raising $1.27 million this month to maintain educational programs for the 700 students in the Portola Valley School District and provide some financial stability.

"The community came through in a really resounding and gratifying way to an historically unusual challenge," said Eli Khouri, foundation co-president with Jill Howard. "The response reinforced the community's commitment to the schools and the children."

The foundation's annual campaign -- that was moved up to the fall instead of being held in the spring because of the state and local school financial crisis -- raised $750,000.

The gala, a once-every-four-years-event, surpassed its goal by raising $525,000 during the lively auction and dinner May 1 at Runnymede Sculpture Farm.

"This has been a challenging and somewhat watershed year in terms of what's being asked of the community," said Mr. Khouri. The district was faced with a continuing gap between revenue and the cost of maintaining programs at their current level, he said.

Property tax revenues increased only 1 percent in the 2002-03 school year from a historical average of 6 percent and a high of 19 percent in 2001-02. The district needs a 5 percent increase in property tax revenue to stay even, school officials say. Personnel expenses grow about 3.5 percent annually.

The schools faced the possible loss of $461,000 annually, beginning July 1, if voters hadn't renewed the $195 parcel tax last November. The voters actually increased the tax to $290 per year.

Mr. Khouri and Ms. Howard said the district is relying more heavily on foundation support to maintain and continue existing curriculum and programs. Foundation money is expected to provide 10 percent of the $8.3 million operating budget for the next school year.

To meet the challenge, foundation board members decided to increase the annual fund goal from $375,000 last year to $725,000 this year.

"Our mission is to let people in the community know what it takes to provide a rich and challenging program," said Mr. Khouri. The foundation set its goal at $1,000 per student.

Funds from this year's annual campaign will go to fund next year's operating deficit, said Ms. Howard and Mr. Khouri.

"It's basically about keeping teachers in the classrooms," said Ms. Howard.

Campaign funds will help pay for smaller class sizes at Ormondale School (K-3) and Corte Madera (4-8), the Reading Recovery program, specialists for physical education, Spanish, music, technology, science and professional development for teachers.

Funds from the foundation's gala will be used in three ways: To enhance the schools' curriculum, provide a reserve to cover operating deficits in the immediate future years, and build the endowment fund, foundation officials said.

The endowment fund, established several years ago, now totals about $1.8 million in cash and pledges, said the foundation co-chairs. The fund, they said, has to be built to a level so that interest on the principal replaces the annual contribution to the schools of $125,000 made through the foundation's 20th Century Fund that runs out in 2005-06.

Contributions to the Portola Valley Schools Foundation annual campaign may be made through June 30 by mailing a check to the foundation in care of the Portola Valley School District, 4575 Alpine Road, Portola Valley.

E-mail Marjorie Mader at mmader@AlmanacNews.com

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