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Board approves first interim budget report, roofs change order and Measure A annual report
Summary
Trustees approved the district’s first interim budget report for 2024–25, a $68,011 change order for roofing repairs, and accepted the Measure A parcel tax annual financial report showing parcel tax revenue and expenditures for 2023–24.
Trustees unanimously approved the district’s first interim financial report for fiscal year 2024–25 and several related fiscal items during the Dec. 18 meeting, Chief Business Officer Todd Rivera and staff reported.
Rivera told the board the district’s revenues increased by roughly $761,500 since budget adoption, largely because assessed property values came in higher than projected. He said assessed values for the district increased about 6.01% and that property tax growth accounted for the largest portion of the revenue increase. The district’s reserve for economic uncertainty was reported at roughly $18 million (about an 18.0% reserve) at the first interim, before the district incorporates negotiated compensation changes presented elsewhere on the agenda.
On specific items, trustees approved change order No. 1 with State Roofing in the amount of $68,011 for additional roof repairs across several campuses, including Truckee High School, North Tahoe Middle/High School and Sierra High School. District staff said the additional work resulted from repairs that exceeded the original contract scope as crews progressed through buildings.
Trustees also accepted the Measure A parcel tax annual financial report for 2023–24. Assistant Superintendent Rivera reported the district collected approximately $5.636 million in parcel tax revenue for 2023–24 and reported Measure A expenditures totaling about $6.631 million; the district covered the difference from other funds to make the Measure A program whole, Rivera said.
The board approved the first interim report after staff described projected increases and decreases across revenue and expenditure categories, including federal carryover funds, lottery increases and adjustments to transportation reimbursement and programs funded through one‑time sources.
Ending Rivera said the district will bring the second interim report in March and continue to monitor assumptions used in the multi‑year projections. Staff thanked fiscal services personnel for preparing the first interim documentation.
