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Operations committee reports $226,000 fiscal-year surplus; allocation to 2% fund paused pending audit
Summary
Finance staff told the operations committee the district finished FY24-25 with a roughly $226,000 surplus (0.19% of a $118 million budget). The committee agreed to wait for auditor field work before moving surplus funds into the 2% reserve; encumbrances of about $181,050 will be liquidated as part of year-end close.
Finance staff reported Monday that final results for the 2024–25 fiscal year show a surplus of approximately $226,000 — about 0.19% of a roughly $118,000,000 budget. The committee was reminded that the Board of Education previously voted to allow up to 2% of the budget to be placed into a 2% reserve fund, but staff said any transfer from this year's surplus should wait until auditors complete final field work. "Our final results for the, '25, 24, 25 fiscal year, we have a…
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