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La Jolla ISD reports $13.1 million year-end favorable variance, cites improved revenue and expense management
Summary
Business and finance staff told trustees the district closed 2024–25 with about $13.1 million more revenue than previously estimated, driven by state settle‑up increases and local revenue adjustments; staff said improvements allow planning for investments.
La Jolla ISD business leaders reported on Sept. 10 that the district closed fiscal year 2024–25 with an approximately $13.1 million favorable difference between updated revenue estimates and previously projected budget figures.
Merjet, the district's chief of business, finance and administrative services, told trustees the district is revenue‑dependent on three main levers — average daily attendance (ADA), the local property tax base and the state's funding formula — and summarized the revenue components that produced the surplus. She said state settle‑up and TRS on‑behalf funds accounted for a large part of the increase (the presentation referenced an approximate $19 million increase in state aid and TRS on‑behalf), local tax and other revenue adjustments added about $1.9 million, and federal program revenue grew by roughly $0.7 million. After increased expenses in areas such as health insurance and enterprise operations, the net result was roughly $13.1 million in surplus for the year.
Merjet said the district began 2024–25 with a budgeted deficit near $10.4 million; after settle‑up and other adjustments, the year closed with a surplus that increases the district's fund balance and creates capacity for future strategic investments. She also reported the district received a "superior" rating on the Financial Integrity Rating System of Texas (FIRST), reflecting improved financial controls.
Why it matters: an improved fund balance restores fiscal flexibility for the district and reduces short‑term fiscal risk. Trustees and district leaders framed the improvement as the result of deliberate financial management, revenue changes, and a focus on accurate student coding and staffing alignment.
Next steps: staff said they will consider strategic investments and will return to the board with proposals, and that monthly budget monitoring and required audits will continue.
