The San Marino Unified School District Board of Education on Sept. 9 approved the fiscal year 2024–25 unaudited actuals, a year‑end financial report staff said shows stable reserves and deliberate use of restricted funds.

District staff explained the unaudited actuals are the formal year‑end report submitted to the county office of education and the state financial system. The presentation acknowledged the district engaged in deficit spending in restricted programs that required spending down prior‑year balances — examples cited were the learning recovery emergency block grant and arts and instructional materials discretionary block grant — and said that spending was intentional to avoid losing time‑limited funds.

Staff said the district meets the state’s required 3 percent reserve for economic uncertainties and listed committed balances: about $900,000 for board goals; $2,000,000 for positions and salary adjustments; $1,500,000 for textbooks; $1,000,000 for program innovations; and $3,500,000 for fiscal stabilization. The report said actual spending on supplies, equipment and deferred maintenance was below budgeted amounts and that staff will continue monthly budget meetings with site leaders to reduce year‑end carryovers so funds reach students earlier in the year.

Staff also explained that the district has not needed to issue a tax and revenue anticipation note (TRAN) in recent years and that the last TRAN use was around 2020; staff said the district monitors cash flow and is prepared to use short‑term borrowing if necessary.

The board approved the unaudited actuals on a roll call vote.