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Board reviews investments, approves federal funding plan and school accountability report; auditors present clean 2023–24 audit
Summary
At the Jan. 23 board meeting the district reported $39.4 million in combined investment accounts, approved the ConApp and the School Accountability Report Card, and auditors delivered an unmodified opinion on the 2023–24 financial statements with no findings.
El Camino Real Charter High District board members received several financial updates and approved multiple fiscal items at the Jan. 23 meeting, including the consolidated application for federal funds (ConApp) and the school accountability report card (SARC). Auditors presented the 2023–24 audit and delivered unmodified opinions on financial statements, state compliance, and federal compliance with no audit findings.
Investment and cash‑management updates: A presenter reported the district’s OPEB trust had $31.6 million at year‑end and that the district’s other investments totaled about $7.8 million, yielding combined invested assets near $39.4 million. The OPEB account reported gains for the year and paid approximately $300,000 in OPEB payments; the presenter noted year‑end investment performance and subsequent market movements during December.
Consolidated federal funding plan: The board approved the ConApp, which enumerated federal funding allocations the district planned to use. The meeting record shows Title II funding of about $68,000, Title IV about $26,000 and Title I approximately $369,000. Presenters described Title I reporting requirements, student counts tied to Title I eligibility and an estimated per‑pupil allocation for qualifying students in the plan. The board approved the ConApp by roll‑call vote.
Financial operations and approvals: The board approved the December 2024 check registers, ASB and fundraising disbursements, and vehicle/credit‑card expenditures after staff explained typical vendors and the process for trust and ASB spending. Combined electronic payments (ACH and similar) in the month totaled about $439,000, with health premiums, insurance and 403(b) payments among larger recurring items. The board also approved the month’s credit‑card reconciliations totaling $23,405.85.
Audit presentation: Auditor Vanessa Pineda presented the independent audit for the fiscal year ending June 30, 2024. The report included unmodified (clean) opinions on the financial statements, federal compliance (tested under single‑audit thresholds) and state compliance. The auditors reported no significant deficiencies, no material weaknesses and no audit findings; they also noted certain required disclosures such as net OPEB assets in the footnotes and commitments/contingencies disclosures.
School Accountability Report Card (SARC): The board reviewed and approved the SARC for 2023–24; presenters emphasized full teacher credentialing (the report lists teachers as fully credentialed) and provided test‑score and CTE information contained in the SARC.
Why it matters: The clean audit indicates auditors found no material or reportable compliance problems in 2023–24. The ConApp and SARC approvals authorize federal program spending and the public school accountability documents the district must publish. Investment balances and monthly disbursements provide context for fiscal stability and near‑term operating cash requirements.
Next steps: Administration will proceed with the approved federal spending plans and continue routine financial reporting. The auditors and business office thanked staff for coordination; no further action on the audit was recorded.
