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Pacific Grove Unified reports positive second interim but notes reserve decline, property-tax uncertainty
Summary
Assistant Superintendent presented the district’s second interim fiscal report showing a positive certification, a projected reserve of about 8.8 percent and sensitivity to April property-tax receipts; board approved the certification.
The Pacific Grove Unified School District Board of Education received the district’s second interim financial report on March 20 and certified a positive fiscal outlook for the current and the next two fiscal years.
Assistant Superintendent Jorn presented the numbers to trustees. Key points: Pacific Grove Unified is a basic‑aid (community‑funded) district whose primary revenue source is local property tax receipts; the district reported a projected combined ending fund balance of roughly $5.3 million and a general‑fund reserve of about 8.8 percent. Staff noted a modest downward revision in property‑tax receipts through January and said the district will monitor April receipts (the larger annual property tax installment) before finalizing longer‑term assumptions.
Nut graf: The certification gives the board a required statutory finding that…
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