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Governing board approves Phoenix Elementary District FY25 annual financial report
Summary
Superintendent and finance staff presented the district’s FY25 Annual Financial Report (AFR). The report shows $54.84 million in maintenance & operations expenditures, total district expenditures near $108 million for FY25, and an estimated lease revenue of about $1.1 million. The board approved the AFR by voice vote.
The Phoenix Elementary District Governing Board voted Tuesday to approve the district’s Fiscal Year 2025 Annual Financial Report, the document the district files with state auditors describing revenues and expenditures for the fiscal year that ran July 1, 2024–June 30, 2025.
Fiscal services staff explained the AFR and the auditing process to the board. The AFR, presented by district staff, documents the district’s maintenance and operations (M&O) fund, capital outlay, classroom site fund and federal/state grant activity and is prepared to meet state reporting standards and the Arizona Uniform System of Financial Records (USFR) and federal reporting (EGFR) requirements.
The district presented several headline numbers: M&O expenditures totaled about $54,840,000, of which roughly 88% was salaries and benefits (66% salaries and 22% benefits). Staff reported 50% of M&O spending was classified as instruction, with plant services at about 11% and transportation about 5%. The AFR lists total district expenditures across all funds at nearly $108,000,000 for FY25; the capital (additional assistance) column showed roughly $2.7 million, the classroom site fund $5 million, grants about $21.6 million (including an $8.1 million SR3 component that staff said will not recur next year), special revenue cash accounts about $12.7 million, and bond‑funded capital work near $11 million.
Finance staff said the district’s FY25 expenditures left a carry‑forward budget balance of approximately $1.3 million, about $300,000 higher than the June adopted projection. The presenter explained that the AFR is an audited submission: the district is approximately 75% through the external audit at the time of the meeting and expects the auditors to complete work by the end of the calendar year; the auditors will report any findings to the board in a subsequent presentation.
Board members asked for additional breakdowns of revenues and expenditures and for a consolidated table showing beginning balance, revenues, expenditures and ending balance across funds; staff agreed to provide that in a board update. Several members pressed for clarity on special revenue cash accounts and how lease receipts, food service and indirect cost pools are recorded.
After a brief period for questions, President Trujillo moved to approve the AFR for FY25; the motion was seconded and approved by voice vote. No dissenting votes were recorded on the audio record.
