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Twin Rivers board approves FY 2024-25 unaudited actuals; classroom-salary percentage remains below state threshold
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Summary
Trustees approved the district's FY 2024-25 unaudited actuals showing $563 million in revenues, $583 million in expenditures, an ending general-fund balance of $168 million and a classroom-compensation percentage of 51.92%, below California's 55% guideline; staff said exceptions were submitted to SCOE and auditors will review the books.
The Twin Rivers Unified board voted to present and approve the district's FY 2024-25 unaudited actuals, concluding a staff presentation of year-end financial results.
Kate Ingersoll, executive director of fiscal services, told trustees the district's total revenues for the year were $563,000,000 and total expenditures were $583,000,000, leaving a $20,000,000 gap. She reported an ending general-fund balance of $168,000,000 and described restricted and unrestricted carryovers. "We are not deficit spending in the unrestricted," she told the board while explaining the composition of assigned and committed balances.
Ingersoll reported the district's classroom-compensation percentage for 2024-25 at 51.92%, below the 55% level specified by the California Department of Education. She described the two exceptions under CDE guidance (hardship or comparable higher-than-average teacher salaries versus peer districts) and said the district had included comparable-district information with Sacramento County Office of Education for review.
Trustee Bastian moved to present and approve the unaudited actuals; Trustee Sandoval seconded. Recorded votes show Trustees Bastian, Jefferson, Sandoval, Baker and Vogt voting yes and Trustee Reischoff voting no; Trustee Alcarra was absent. The motion carried.
Staff said auditors will begin fieldwork in early October and report to the board in January. The board will incorporate the ending balances into the adopted budget and report first-interim results for 2025-26 at the December 9 meeting.
