The Beverly Hills Board of Education has tentatively approved a $25,634,174 budget for the 1986-87 school year. The budget will reduce the district's reserves to about $1 million. Assistant Supt. John H. Scoggin said the budget includes nearly $19 million in revenues from the state, $2.2 million in payments from the city for the lease of school properties, and an estimated $40,000 a month in revenues from oil wells operating on the high school campus.
The district anticipates that it will receive nearly $575,000 from the state lottery and $750,000 from the Beverly Hills Education Foundation, a private organization which raises money for the schools. Scoggin said that despite efforts to increase revenues to balance the 1986-87 budget, the district still suffers from an annual shortfall in revenues of about $1.9 million.