Coronado Unified adopts 2024–25 unaudited actuals; board approves related budget resolutions

Coronado Unified School District trustees on Sept. 11 voted to adopt the district's 2024'25 unaudited actuals and approved three related annual resolutions, after a presentation from Deputy Superintendent Salamanca.

The unaudited actuals "freeze the clock" on district finances as of June 30, 2025, Deputy Superintendent Salamanca said, and show $60,400,000 in total expenditures across all funds. The district recorded $47.2 million in general-fund revenues and about $53.3 million in general-fund expenditures, producing a year-end general-fund deficiency of roughly $6.1 million that was covered in part by transfers and the district's reserve funds. Salamanca told trustees the district's combined available reserves decreased to $14.4 million as of June 30, 2025.

Why it matters: the board and staff said the district is approaching a funding milestone known as the 'bridge to basic aid.' Salamanca outlined steps the district took this summer to maintain solvency, including lease-purchase financing approved by the board in August for about $3.11 million and a reimbursement resolution to allow certain capital outlays to be paid from those proceeds. Trustees were told those measures, along with year-end timing items and late reimbursements, positioned the district to meet the county office's requirement to show budget solutions by the first interim report.

Key numbers and timing details cited by staff:

- Total district expenditures across all funds: $60,400,000. - General-fund revenues (Fund 01) for 2024'25: $47,200,000; expenditures approximately $53,300,000; deficiency about $6,100,000. - Ending combined reserves (Funds 01, 17, 40) as of 06/30/2025: $14,400,000 (a drop of about $2.5 million from the prior year). - Debt-service payment referenced for early 2000s non-voter-approved debt: about $560,000 annually.

Salamanca identified several one-time timing gains and costs that affected the June 30 snapshot. Those included nearly $500,000 in a school-violence-prevention grant for two-way radios that the vendor did not deliver before June 30 (expense not recognized until receipt), an almost $700,000 timing receipt from the Golden State Pathways program that arrived at year-end, and an accelerated drawdown of DoDEA funds that shifted restricted expenditures into the current year. He also said an unexpected flood-insurance reimbursement check arrived late in the year, increasing year-end reserves.

Enterprise and special funds: Salamanca outlined several enterprise and restricted funds the district operates, including the cafeteria fund (Fund 13) that ran a small deficit of about $18,000 with an ending fund balance of about $1.6 million, recreation and pool activities (Fund 19), preschool (Funds 12 and 63), deferred maintenance, capital facilities financed by developer fees, a facilities fund (Fund 49) that houses lease revenues from Glorietta Bay property and ECDC leases, and a foundation permanent fund (Fund 57) that supports arts programs such as the Jill Hardman Fund.

Developer fees and local revenue: Salamanca said the district completed the legally required justification study in the past year and is levying developer fees at the maximum rate allowed by the State Allocation Board's methodology. When asked by public commenter Jennifer Landry and trustees, staff said the district conducted the study in 2024 and raised rates to the maximum legally permitted; the district does not unilaterally set the statewide formula.

Federal funding exposure: Salamanca reminded trustees that federal and state grants are significant to the district budget and noted the district receives roughly $5.7 million in federal funds annually (IDEA, Title programs, Department of Defense impact aid, DoDEA). He warned that federal funding uncertainty nationally could pose risks.

Board action and routine resolutions: after staff questions and public comment, trustees voted to adopt the unaudited actuals and approved three annual actions tied to that adoption:

- Resolution 25-09-01 (Education Protection Account) -- annual reporting of EPA receipts and allowable uses. - Resolution 25-09-02 (Gann limit certification) -- certification that the district did not exceed the statutory revenue limit. - Approval of the Consolidated Application (2025'26 spring release) to accept federal Title allocations.

Votes at a glance

- Item 3.5 (consolidated annual debt report) was pulled from the consent calendar, discussed under item 7, and approved after clarification; motion to approve passed. - Item 4.1 (adopt 2024'25 unaudited actuals) -- approved (motion recorded; vote called and passed). - Item 4.2 (Business Services Resolution 25-09-01, Education Protection Account) -- approved. - Item 4.3 (Gann limit, Resolution 25-09-02) -- approved. - Item 4.4 (2025'26 Consolidated Application, spring release) -- approved.

What board members and the public asked: trustees pressed staff on cash-flow timing if the district transitions to basic aid (property-tax-driven funding) after the final redevelopment-agency-related payment, expected about a year from the meeting; staff said basic-aid districts typically receive two large property-tax deposits (roughly December and April) and recommended higher reserves for cash-flow. Trustees also asked about staffing and enrollment impacts on staffing costs and the district's plan for the first interim report. Public commenter Jennifer Landry asked for clarification on certificated full-time-equivalent counts, the availability of the slide deck and online materials, and the district's role in developer-fee decisions.

Next steps and oversight: Salamanca said the district's unaudited actuals will be submitted to the County Office of Education and that the external audit will be finalized by December 2025 with the audit report expected to return to the board in January 2026. He reiterated that the county office, external auditors (ID Bailey) and the California School Accounting Manual/GASB standards govern reporting and oversight.

Ending note: trustees and staff emphasized the unaudited actuals are a snapshot in time and that several timing items and the recent lease-purchase financing helped avert deeper short-term cuts; staff requested the board's approval so the district could meet County Office and state reporting deadlines.