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Board adopts October budget revision after unaudited actuals raise beginning balance
Summary
The board approved Budget Revision 1, which incorporates unaudited 2024–25 actuals and increases beginning balances and restricted carryover. The revision raises projected combined expenditures and shows an increased unrestricted deficit; reserves remain above policy minimums.
Pacific Grove Unified School District trustees voted Oct. 2 to adopt Budget Revision 1 for 2025–26, updating the district's June adopted budget with unaudited actuals, reconciled payroll encumbrances and staffing changes.
Staff told the board that unaudited actual ending balances posted Oct. 1 increased the district's beginning balance by roughly $1.8 million compared with the June adopted budget. Property tax receipts outperformed projections (about 5.15% growth), producing a near‑term net revenue increase driven in part by prior‑year and delinquent tax receipts. The revision increases combined restricted and unrestricted expenditures from the adopted estimate of about $49 million to just over $51 million due to position control reconciliation, additional assignments and updated workers' compensation calculations.
The district's projected unrestricted deficit increased to just over $1 million (up from $624,428 at adoption), and the combined projected operational deficit is roughly $2.7 million. The presented reserves remain about 7.7% under Budget Revision 1. Staff emphasized the need to track one‑time restricted carryover spending and to avoid funding ongoing costs with expiring restricted dollars.
The board approved the revision 5–0; trustees and staff said a budget subcommittee will examine staffing alignment and the interplay of restricted programs and the general fund before next year's budget cycle.
