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District reports strong reserves; Prop V projects continue with KAI update
Summary
The district reported fund reserves near $29.9 million and operating fund reserves around 30% while staff reviewed capital projects tied to Prop V, including a bus lot, boardroom renovation and athletic facility work; KAI reported the CSC boardroom is roughly 75% complete.
Finance and operations staff reported a strong fiscal position and provided a construction update on Prop V projects.
Chief financial staff told the board the district held just under $29.9 million in total reserves (44.23% of funds) through December, with operating fund reserves (general/incidental/teachers) near 30.03%. Year-to-date revenues through December were roughly $33.7 million and expenditures about $30.7 million, the presentation said. The finance director said property-tax receipts in December contributed the largest month of revenues.
Capital and Prop V: Jossy Haynes of KAI gave a project update and said several Prop V projects are underway. The CSC boardroom renovation is on track and roughly 75% complete; Haynes showed renderings and photos of ceiling, tile and the dais and said audio-visual infrastructure installation had started. KAI also reported contract work on the football field/track and press-box refreshes, and listed MBE/WBE participation goals and tracked savings of approximately $2 million on completed scopes.
Why it matters: Trustees said the fiscal position gives the district flexibility to plan capital work and noted the superintendent and finance team are exploring a potential $50 million no-tax-increase bond issue to address remaining facility needs districtwide. The finance director said the facilities master plan will be developed in tandem with bond planning so the master plan can inform any community bond request.
Next steps: Staff expect continued Prop V construction through the year, aim to complete the transportation depot and electric-bus program by early fall, and will return with a facilities master plan in time to inform bond conversations. The board signaled support for public engagement around any future bond proposal.
Ending: Trustees thanked the finance and construction teams and asked staff to return with prioritization and timeline details for the capital plan and bond proposal.
