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Board reviews budget detail and approves 2024–25 annual financial report after adjustments to meet reserve policy
Summary
Business officials reviewed cash-controlled funds, tax-credit revenue and building-renewal spending and told the board the district revised historical entries to meet its 4% operating fund carryover policy; the FY24–25 annual financial report was approved.
Chino Valley Unified School District business officials summarized budget activity and presented the district’s FY 2024–25 Annual Financial Report (AFR) to the board on Oct. 1, saying mid-course accounting adjustments were made to meet the board’s 4% operating-fund reserve policy.
Why it matters: The AFR is a statutory filing to the Arizona Department of Education; the district said failing to submit timely and accurate AFRs could trigger a freeze of grant reimbursements and create administrative burdens.
Assistant superintendent/finance staff provided an overview of cash funds reported in the AFR. Highlights included: classroom-site funds that began the year at about $1.5 million…
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