District presents 2024–25 unaudited actuals; reserves stronger than expected

The Pacific Grove Unified School District presented its unaudited actuals for fiscal year 2024–25 on Sept. 4 and certified the report to the county office of education as required. Assistant Superintendent Louis Jordan told trustees the district closed the year with a combined ending general‑fund balance of roughly $7.2 million, representing a 9.5% reserve — stronger than projections shown at second interim.

Jordan summarized the drivers: additional, one‑time local receipts (including prior‑year and delinquent property tax receipts), a dividend from the district’s risk‑pool (MRMA), and higher than anticipated state lottery and interest receipts increased revenues by roughly $920,000 relative to the adopted budget. Expenditure lines for books, supplies and services ended below budget, and classified salaries and health/welfare costs were slightly higher than planned, partly due to retroactive contract payments.

The presentation covered auxiliary and special funds as well: adult education ended with a fund balance of about $2.3 million (planned drawdown in future years), the cafeteria fund realized a small operating surplus, deferred maintenance built reserves through a $200,000 general‑fund contribution, and developer fee receipts rose to about $178,000 for the year. Jordan told the board the district will bring a budget revision in October that reflects the updated beginning balances for 2025–26 and will continue scenario planning ahead of first interim.

Trustees thanked staff; several asked for scenario work to identify potential cost‑recovery or expenditure‑reduction options if revenue or enrollment pressures increase over the multiyear budget horizon. The board approved the unaudited actuals 4‑0.