Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
District staff present FY25 year‑end budget totals, note bond proceeds affected revenue timing
Summary
An administrator presented FY25 year‑end numbers that include bond expenses and noted auditors will review whether budgeted fund balances were exceeded. Staff said FY24 bond proceeds temporarily increased revenue before FY25 expenditures outpaced revenue.
District administration presented final figures for fiscal year 2025 and explained how prior bond proceeds affected revenue timing. The presentation was described as a closeout exercise to ensure auditors have accurate information on the district's fund balances and budget amendments.
A staff member said the year‑end budget amendment includes bond expenses and that the fiscal year that preceded FY25 included $20 million in bond proceeds that temporarily increased revenues. "You can see the years before the revenues that came in, for that time, outpaced our expenditures. And then, of course, this year, the expenditures outpaced the revenue because we received that $20,000,000 from our bond in FY24," the staff member said.
The presenter said the budget amendment is intended to document final balances so auditors can confirm whether any budgeted fund was overspent; if a fund exceeded its budget, auditors will note the exception. No vote was taken on the amendment during the discussion; staff offered to answer follow‑up questions and to include the figures in the audit documentation.
The board asked no substantive questions about line‑item changes during the meeting but used the presentation as context for later conversation about consolidation and the district's reserve target.
Administration indicated it will return with more detailed budget reduction plans at the October meeting and separate material targeted at closing the current fiscal year's deficit.
