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Board approves fiscal year 2024‑25 annual financial report; staff outlines bond and override spending plans
Summary
Trustees approved the district’s FY 2024‑25 Annual Financial Report and heard detailed updates on bond spending, the capital override and the m&O override timeline; staff recommended a 20% fund‑balance carryforward target and described planned capital and technology projects.
The Creighton Elementary School District Governing Board voted to approve the district’s Annual Financial Report (AFR) for fiscal year 2024‑25 at the Oct. 21 meeting and received an update on bond expenditures, the capital override and the upcoming m&O override renewal timeline.
Why it matters: The AFR is a statutory filing that summarizes district revenues, expenditures and fund balances. Board approval allows the district to upload the AFR to the Arizona Department of Education. Staff also presented planned use of bond proceeds from the 2024 voter‑approved $85 million authorization (first sale: $30 million in May 2025) and described the capital override and m&O override…
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