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Salem-Keizer reports healthy fiscal-year closeout but warns reserves will be drawn down
Summary
Superintendent Castaneda told the board the district closed fiscal year with ending fund balance slightly above policy targets and credited finance staff for accurate forecasting; the district noted a $15 million interfund transfer to purchase a building and warned that the $96 million reserve will be drawn down in future budgets.
Superintendent Castaneda presented Salem-Keizer SD 24J’s quarter 4 fiscal closeout for the year ended June 30, 2025, telling the board on Sept. 23 that the district closed the fiscal year with revenues and expenses balanced and an ending fund balance slightly above policy targets.
Castaneda praised the finance team’s forecasting and said the staff were within $9 million of accuracy on a roughly $1 billion budget for the prior year. She said the district’s ending fund balance is healthy now but cautioned the board…
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