Board approves 2024–25 annual financial report and school-level reports

The governing board approved the district’s 2024–25 annual financial report and the school-level financial reports after a brief discussion and a roll-call vote.

Motion and outcome: A board member moved to approve the “2024, 2025 annual financial report and school-level reporting financial reports as presented.” A second was recorded and the motion carried on an aye vote of 5–0.

Why it matters: The annual financial report summarizes district revenues, expenditures and fund balances for the fiscal year; approval finalizes the district’s public financial statements for 2024–25 and enables any required filings and signatures.

Details and next steps: District staff asked board members to sign the reports before leaving the meeting. During discussion, staff clarified fiscal-year labeling (the presenter said the correct reference was FY '24–'25 and explained school-year versus fiscal-year notation). Staff also reiterated that some budget balances are legally restricted and cannot be reallocated between districts.

Context: The superintendent and finance staff advised the board that headline figures in public reporting sometimes appear to show large “excess” balances for traditional public schools, but those totals aggregate restricted funds that cannot be reassigned to other districts.