Twin Rivers board adopts 2023–24 unaudited actuals; ending fund balance presented as $188 million

The Twin Rivers Unified School District board voted to adopt the district—s 2023–24 unaudited actuals after a staff presentation that compared June—s adopted budget and estimated actuals to the final, unaudited numbers.

Ryan (fiscal lead) and Kate Ingersoll (fiscal services) explained that the district closed its books for the 2023–24 fiscal year and discovered small variances between estimated and final numbers. Kate said the combined variance across funds was about $1.3 million (roughly 0.19% of general fund expenditures), and that the district had a general‑fund ending balance presented as $188,000,000.

Officials described components of the ending balance: inventory/unspendable amounts, restricted program carryovers for categorical purposes (the presentation cited roughly $108.1 million in restricted program balances to be carried forward), committed funds for technology, HVAC and recruitment, and an economic‑uncertainty reserve near the board target (the presentation cited 9.7% of general‑fund expenditures). The presenters noted that COVID one‑time block grants are expiring and that about $9.4 million in positions are currently funded by one‑time grants; when that funding sunsets, the district anticipates multiyear projection impacts in 2026–27 and 2028–29 that will reduce unrestricted balances unless ongoing funding is found.

Board members asked clarifying questions about textbook and curriculum line items after a public question about why textbook spending was lower than projected; staff explained that some restricted‑program allocations are carried forward and that object‑code shifts can make year‑to‑year comparisons confusing. Trustee Baker moved to adopt the unaudited actuals; Trustee Bastian seconded and the motion carried on a roll‑call vote.

The board was told independent auditors will complete the formal audit in October with the audit report coming to the board in January.