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Moreno Valley Unified adopts amended 2024–25 financials, flags enrollment shortfall and out‑year risk
Summary
The board approved amended unaudited actuals showing slightly higher-than-expected 2024–25 revenues, a $10.9 million increase in unrestricted ending fund balance to about $120 million, and a 72‑student enrollment shortfall that could reduce state funding by roughly $1.5 million. Trustees asked staff to return with follow-up interim projections.
The Moreno Valley Unified School District Board of Education voted 5–1 on Sept. 9 to adopt an amended unaudited actuals report for fiscal year 2024–25 that shows modest revenue gains and higher-than-projected year-end reserves, while trustees pressed staff about an enrollment shortfall and projections that show deficit spending in later years.
Chief Business Official Susanna Lopez told the board the district’s final unaudited revenues were about $479 million, roughly $6 million above the estimate presented in June, while actual expenditures came in lower than planned. That combination raised the district’s unrestricted ending fund balance by about $10.9 million to roughly $120 million, Lopez said.
“Once we close the books, we now have new ending fund balances for 24–25,” Lopez told trustees during the presentation. She cautioned that the multi‑year projections remain conservative and that the district is watching several variables — particularly attendance and one‑time grant expirations — that affect long‑term outlooks.
Trustees focused attention on a roughly 72‑student gap between projected and actual enrollment that Lopez said equates to about $1.5 million in average daily attendance funding if it persists to the state’s October census date. “That’s a significant hit if we don’t get those kiddos,” Trustee Leiva said.
Superintendent Dr. Rufakava thanked the business office and emphasized the district’s commitment to fiscal transparency as the board considers first‑interim updates in December. Several trustees pressed staff for clearer presentation of how carry‑forward balances interact with revenues and deficit projections; the business office said it would provide a more detailed breakdown in future reports.
During deliberations, Trustee Luna cast the only dissenting vote on the amended unaudited actuals. Clerk roll call recorded five ayes and one nay.
The board asked staff to monitor enrollment through the state’s October census and to return with interim budget projections that more explicitly separate carry‑forward reserves from recurring revenue. The amended unaudited actuals will be the basis for next steps required by state budget law and the county office of education.
