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CFO presents early FY26 revenue shortfalls, Prop S encumbrances and audit corrective actions
Summary
CFO Kimberly Johnson presented a simplified revenue-vs.-actuals report showing about 5.1% of projected district revenue realized through September and reviewed Prop S project accounting and encumbrances for the March 2025 $25 million tranche.
CFO Kimberly Johnson presented a new, simplified revenue-versus-actuals format for fiscal year 2026 (through September) and updated the committee on Prop S project spending, encumbrances and corrective actions taken after the district's financial audit.
Johnson said the district' current general operating budget projection is about $339 million; total projected revenue including Prop S and other sources was presented at roughly $416 million, and the year-to-date realized revenue figure reported for the first quarter was about 5.1% of that forecast. She pointed to…
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