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Lennox board hears 2024'15 unaudited actuals showing short-term surplus, but projects future deficits as enrollment falls
Summary
Assistant Superintendent of Business Maria Elias told the Lennox Unified School District board that the district closed its 2024'15 books with $102.4 million in general fund revenue and modest positive ending balances but warned the district faces multiyear deficits tied to declining enrollment and expiring one-time funds.
Assistant Superintendent of Business Maria Elias presented the district's 2024'25 unaudited actuals, reporting total general fund revenues of $102.4 million and improved ending balances compared with the district's adopted estimates but cautioning that the district is still projected to deficit spend in future years.
"The unaudited actuals represent our cumulative activity for the fiscal year ending 06/30/2025," Elias told trustees, noting the report remains subject to the annual audit. She said unrestricted revenue totaled $55.4 million and restricted revenue $46.9 million, with total general fund expenditures of about $98.3 million. The district closed the year with roughly a $4.3 million positive variance on the unrestricted side and $273,000 positive on the restricted side versus previously estimated…
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