The district treasurer presented a near‑final balance report for fiscal year 2024‑25, saying the ending general fund balance is about 35.66%, slightly better than the previously projected 34.97%. Administration said it will lower the planned transfer to the capital projects fund from $1.9 million to $1.0 million to preserve general fund balance heading into 2025‑26.

Bond refinancing: The district sold bonds July 8 and refinanced portions of older bonds. The treasurer said the district refinanced some 2006 and 2016 bonds, reducing rates from about 4% to 3.3% on the refinanced portion, which the district estimates will save approximately $307,400 over the life of those bonds. The refinancing incurred closing costs (underwriting, legal, auditors, ratings calls) estimated in the meeting at roughly $160,000.

Grants and revenues: The treasurer said the district is watching federal grant flows. The 21st Century grant funds (after‑school programming) were released, but some title funds and AEL funds remain held at the federal level; the district is tracking developments and expected to report again in September.

Assessment/valuation and tax levy: Preliminary assessed valuation numbers are coming in “a little bit higher” than budgeted, but final roll numbers will come from the Board of Equalization next week; the board plans to approve the tax levy in August.

Why it matters: Fund balance levels, bond refinancing and grant timing affect the district’s ability to fund capital projects and ongoing operations. The treasurer said the capital projects fund will still hold about $4.6 million after transfers and that refinancing lowers long‑term interest expense.

Formal actions: The board did not take new fiscal action beyond receiving the report; prior board authorization for bond refinancing and transfers was implemented.

Ending: The treasurer said administration will return with final numbers and next steps when the Board of Equalization completes its work and as federal grant decisions are clarified.