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Board approves first interim financial report after CBO details audit adjustments and reserves
Summary
The board approved the 2025‑26 first interim report after the CBO outlined enrollment gains, a federal audit extension, $523,000 in planned audit adjustments, a $324,000 state overpayment on a bond lease, and concerns about unduplicated pupil percentage and reserves.
The Palmdale Aerospace Academy District board voted to approve its 2025‑26 first interim financial report after the district’s finance lead reviewed enrollment, revenue assumptions and several accounting adjustments.
The CBO told the board that October census day recorded 2,303 students, producing an increase in the Local Control Funding Formula amount because the district had 23 more students than projected. The presenter said the federal audit’s completion was delayed…
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