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Business services reports FY24-25 closeout: fund balance down, capital reserves concentrated in impact fees
Summary
The district reported revenue and expenditure totals for the 2024-25 closeout, a net drop in general fund balance, steady capital reserves that include impact fees, and ongoing cost-containment measures.
Kim, director of business services, presented the district's fiscal closeout for fiscal year 2024-25 at the Oct. 22 board meeting, reporting revenue, expenditures and fund-balance trends.
Kim said the district recorded approximately $124 million in revenue for the year, with 77 percent from the state, 15 percent from local taxes and 3 percent from federal sources. Expenditures totaled…
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