Farmersville Unified posts $52 million in revenue, $1.3 million surplus in unaudited 2024–25 report

Farmersville Unified Chief Business Officer Rick Arderman presented the district’s unaudited financial report for 2024–25 on Sept. 9, telling the governing board the district recorded approximately $52 million in total revenue, about $51 million in total expenditures and a net positive variance of roughly $1.3 million for the year.

The unaudited actuals matter because they establish the district’s fiscal position heading into the 2025–26 budget cycle and are required to be reported to the Tulare County Office of Education and the California Department of Education.

Arderman told the board the largest revenue source was Local Control Funding Formula (LCFF) revenue, followed by federal and state program funds and some local revenues such as Medi‑Cal billing and interest earnings. He said the district’s expense picture remained dominated by salaries and benefits, which represent about 73% of expenditures. Arderman summarized the combined totals as “about $52,000,000” in revenue and “about $51,000,000” in expenses and said, “we came in under budget by about 1.3” million dollars, increasing the combined ending balance from $26 million to $28 million.

Arderman highlighted several fund-level items discussed in the presentation: an ASB increase (small), adult-education declining by about $27,000, cafeteria program improvement due to higher meal reimbursement and participation, and developer fees of about $89,000 tied to local construction projects. He also noted capital-related items: the district’s COP for the stadium and a prior GO bond issuance are reflected in fund 401 and that the board will receive a bond presentation at a future meeting about a second issuance.

Board members thanked Arderman and the business team for stabilizing the district’s finances. Trustees asked follow-up questions about the report and were told the figures are unaudited and the district will incorporate any state-level changes, including COLA adjustments, into the first interim report in December. The board moved to adopt resolution 04-09-09-25 establishing appropriations limits for 2024–25 and the estimated limit for 2025–26 and then approved the 2024–25 annual financial report (unaudited actuals) by unanimous vote; the motions passed with all trustees answering “Aye.”

Arderman closed by noting the report “sets the stage for audit” and that staff will present the first interim budget update to the board in December, incorporating any changes from state revenue collections or cost-of-living adjustments.