Newman-Crows Landing Unified reports FY24-25 unaudited actuals; ending fund balance 14.5%

Staff presented the Newman-Crows Landing Unified School District’s unaudited actuals for fiscal year 2024–25 at a special board meeting and reported an ending fund balance of 14.5%, a deficit spend of 5.4%, and several recommended earmarks for reserves and planned expenditures.

The report, delivered to the board during the meeting, said revenues came in about 1% below estimated actuals — primarily because some federal reimbursements depend on corresponding expenditures — while overall expenditures were about 4% below earlier estimates. “We actually ended with an ending fund balance of 14.5,” the presenter said. The report said the district had originally projected a 7.1% deficit spend and that the 5.4% actual deficit spending is an improvement on that estimate.

The presenter outlined how the district plans to allocate the balance: set aside an 8% board-policy reserve; designate restricted funds, chiefly local special-education funding; hold a small revolving cash amount for ad hoc checks; and create assignments to cover prior-year retroactive pay items and other anticipated costs. The presenter said part of the balance would be earmarked for adopting a math curriculum under review by cabinet.

Staff noted specific program balances and pressures. The cafeteria fund closed near $3,000,000, the presenter said. Adult education showed a small deficit that required a general-fund contribution; the presenter referred to the figure “167” when describing the level of support but did not specify units. The presenter warned that bond sale proceeds referenced during the meeting are not reflected in the FY24–25 unaudited actuals because those transactions will be recorded in FY25–26.

On audit timing, staff said outside auditors will review the books and could make adjustments; the district expects that audit work to continue through November–December, with the final fiscal-year audit returned to the board for acceptance. The presenter also said the district will return with a first-interim report in December covering the fiscal year through Oct. 31, 2025, which will reflect enrollment (average daily attendance) and updated LCFF revenue estimates.

Board members had no extended questions after the presentation. The board voted to approve the unaudited actuals by a 3–0 vote with two trustees absent.

The district will present the audited financial statements to the board after the auditors complete their review; any audit adjustments will be reported to the board in subsequent interim reports or during the acceptance of the audit.