MVLA Board certifies unaudited 2024–25 finances, flags $3.15 million overspend and reserve shortfall

The Mountain View–Los Altos (MVLA) school board on Monday accepted the district's unaudited actuals for the 2024'25 fiscal year and discussed factors that produced a multi-million-dollar deficit and a tighter-than-planned reserve. The board voted 4'0'00 to certify the report after administrative presentations and discussion.

District administrators told the board the unaudited actuals show an overspend of roughly $3.15 million for the year and that the district's unrestricted reserves are about $277,000 below the board's 17% target. "This year, we overspent unrestricted by 3,152,000," said Elvis, a district finance presenter. Associate Superintendent Mike placed the unaudited actuals in context: "It's that time of year where we come and look at budget numbers, but this time we're looking in the rearview mirror."

Why it matters: the unaudited actuals close out the prior fiscal year and become the beginning balance for the current budget. Administrators said the numbers will be used to update the district's first interim budget in December and to set staffing and expense projections.

Key drivers and…