Board approves second interim financial report, authorizes intra‑budget transfers and employee pay increases

The Los Altos School District Board of Trustees on an unanimous vote approved the district’s second interim financial report, adopted a resolution authorizing transfers between funds during the current fiscal year and approved retroactive compensation increases for nonrepresented employees.

The board heard a detailed second‑interim presentation from district finance staff outlining revenue and expenditure changes between July 1 and Jan. 31, including a $4.7 million increase in expenditures largely driven by salary and benefits, a $361,000 decrease in in‑lieu payments from charter schools tied to declining ADA, and a planned transfer to the cafeteria fund to cover meal program shortfalls. The presentation projected lower reserves in the out years and noted the district continues to monitor special‑education costs, cafeteria…