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District reports unaudited 2024–25 actuals showing drop in unrestricted balance but $880,000 better than projected; board approves report
Summary
Business services presented unaudited 2024–25 actuals showing a $3.3 million drop in unrestricted spending versus revenues, a decline in ADA, and an $880,000 favorable variance against estimated actuals; the board approved the unaudited actuals.
District business services presented the 2024–25 unaudited actuals at the Sept. 16 meeting and the board voted to approve the report.
Presenters told trustees the district spent about $3.3 million more in unrestricted expenditures than it received in unrestricted revenues in 2024–25; unrestricted ending fund balance decreased from approximately $14.1 million at the start of the year to roughly $10.8 million at year end. Contributing factors included an increase in restricted program contributions (about $1.6 million in special education), and a decline in average daily attendance (ADA) from 94.6% in 2023–24 to 93.6% in 2024–25, which reduced Local Control Funding Formula (LCFF) revenues by roughly $1 million.
Staff also reported a favorable variance compared with the district’s estimated actuals: the district’s “unassigned economic uncertainty surplus” came in about $880,000 higher than projected, providing some additional flexibility. Reasons cited for the favorable variance included higher than projected local and state allocations received in late summer (lottery, transportation, special education revenues), timing differences such as delayed receipt of four electric buses budgeted in 24‑25 but received in 25‑26, lower than expected billbacks from county office services, and smaller site discretionary and department expenditures.
Presenters flagged risks for 2025–26: current enrollment counts were coming in lower than projected (closer to about 8,200 students vs. an anticipated ~8,300), a budget built on a 94% ADA yield while recent actuals were 93.6%, and ongoing structural pressures from underfunded special education. Staff said the district expects roughly $2.3 million in restricted one‑time funds for 2025–26 but that not all favorable 24‑25 items are ongoing.
Trustees discussed reserve levels; staff noted the district’s combined ending fund balance (restricted plus unrestricted) represented about 5% of general fund expenditures for the district at year end, compared with an average above 24% for unified districts in California in 2023–24. Board members asked clarifying questions about ADA, which revenue streams were ongoing, and how much of the favorable variance was one‑time. The board approved the unaudited actuals in a motion during the meeting.
