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Board approves second interim financial report, authorizes intra‑budget transfers and employee pay increases
Summary
The Los Altos School District Board unanimously approved its second interim financial report, adopted a resolution authorizing budget transfers and approved retroactive raises for nonrepresented employees. The board also approved the consent agenda and the meeting agenda earlier in the session.
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 reimbursements and property‑tax growth from the county assessor.
The second interim report matters because it is the district’s midyear check on whether it can meet financial obligations this year and over the two‑year state projection; the board voted to certify the report and allow staff to proceed with required budget work ahead of the June adopted budget.
District staff and the county coordinator described the teacher‑and‑mentor stipend structure in an unrelated presentation, and the board heard that teacher‑residency stipends and mentor stipends are funded in part by a county grant. In the financial presentation, staff explained that local property tax and parcel tax revenues make up the overwhelming share of the district’s revenue, with state and federal funds forming a smaller portion tied to ADA. Staff noted the district’s projected reserve will fall under current assumptions unless multiyear reductions or revenue changes are realized.
Votes at a glance - Approve agenda as presented — motion by Vladimir; second by Stella; outcome: approved (unanimous). - Approve consent agenda — motion by Vladimir; second by Stella; outcome: approved (unanimous). - Approve 2024–25 second interim financial report — motion by Vladimir; second by Stella; outcome: approved (unanimous). - Adopt Resolution 24/25‑13 authorizing increases/decreases of income and expenditures (allows budget transfers during the fiscal year) — motion by Vladimir; second by Stella; outcome: adopted by roll‑call (Stella: yes; Jim: yes; Glade: yes; Bridal: yes; Brian: yes). - Approve nonrepresented (confidential/administrative) employee compensation schedules (retroactive increases described in staff materials) — motion by Vladimir; second by Stella; outcome: approved (unanimous).
District business staff fielded questions from trustees about reserve levels and the need to right‑size staffing in future budgets. Staff said they expect to refine numbers for the adopted budget in June after receiving two more monthly assessor reports and after closing the fiscal year.
Board members thanked business staff for the narrative that accompanied the agenda and asked for continued transparency about reserve policy and multiyear staffing scenarios. Staff emphasized that special‑education placements and nonpublic school costs can create sizable, unplanned budget pressure and that those costs are being monitored.
The board’s motions were recorded on the meeting record and staff said they will incorporate the board’s direction into the adopted budget process this spring.
