In a recent government meeting, officials reported significant financial developments regarding the Local Control Funding Formula (LCFF) for the 2023-2024 fiscal year. The district experienced an impressive 8.22% Cost of Living Adjustment (COLA), translating to over $21 million in LCFF revenue, marking an increase of more than $1 million from the previous year. This growth was attributed to a conservative approach in budgeting, as the state had utilized over $1 billion in one-time funds to support this increase.

Enrollment figures were also discussed, with a total of 1,863 students recorded, resulting in an average daily attendance (ADA) of 1,799, reflecting a 90% attendance ratio—a 1% increase from the prior year. The implementation of an alternative income form contributed to a rise in the unduplicated pupil count, further enhancing funding.

The meeting highlighted various revenue sources, including federal funds primarily from the CARES Act, which continued to support schools post-COVID, and state revenues amounting to approximately $6.7 million, including over $3 million from state facilities grants. Local revenues, including donations and program fees, contributed an additional $3.33 million.

Expenditures for the year totaled over $25.5 million, with 73% allocated to salaries and benefits. Significant investments were made in facility projects, including the completion of the BlackRock Fence project and renovations for central services. The district reported a surplus of $896,000, primarily due to lower-than-expected cuts from the learning recovery block grant and increased interest revenues.

The district's fund balance is projected to increase by $6.1 million, reaching a total of $25 million, with approximately $5.3 million earmarked for restricted categorical program funds. Officials emphasized the fiscal soundness of the district, noting that the fund balance represents about 98% of total expenditures.

Looking ahead, the district plans to update its budget based on the finalized financial statements and any necessary adjustments to state categorical funding. The meeting underscored the district's commitment to maintaining financial stability while enhancing educational resources and facilities for its students.