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District receives interim audit update; staff flags state budget timing and pending governor’s May revision
Summary
District staff presented the 2024–25 interim audit work in progress, reported ESSER and other federal program balances, and said the district is waiting for the governor’s revised budget; staff also summarized state economic indicators including a lawsuit over trade tariffs that could affect state revenues.
District finance staff gave an interim financial update covering ledger activity through March and the external audit work in progress for the 2024–25 interim audit.
Staff said auditors are reviewing internal controls, system access, federal programs and general ledger activity through March. Staff noted the district has three federal programs with balances over $750,000 for the year, including an expired ESSER allocation and Title I funds, and that auditors will complete a final year-end audit after books are closed in the summer.
On the state outlook, staff summarized an April bulletin from the California Department of Finance reporting that national inflation slowed to 2.4% in March and that California’s unemployment in March was 5.3%. Staff said March receipts nearly matched the governor’s budget forecast and that the state has filed a lawsuit challenging presidential tariffs — staff said the litigation could affect state revenues and therefore school funding assumptions.
For the district’s second interim, staff said the district had received about 74% of its expected revenue and had spent about 67% of payroll and operating budgets through March. Staff said timing for the district’s CTE grant typically arrives in May, which affects year-to-date receipts. Staff said the district will present a proposed 2025–26 budget at the May board meeting following the governor’s revised budget guidance.
No formal budget action was taken at the meeting; staff framed the report as informational and said auditors will complete the final audit in the fall once the district’s books are closed.
