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Moreno Valley Unified board approves amended FY24–25 unaudited actuals despite trustee concerns over projections
Summary
The board approved amended FY2024–25 unaudited actuals showing a $6 million revenue variance above estimates and an unrestricted ending fund balance increase to about $120 million, while trustees pressed staff on enrollment shortfalls and multi-year deficit projections.
The Moreno Valley Unified School District Board of Education voted 5–1 to approve amended unaudited actuals for fiscal year 2024–25 after a detailed presentation by Chief Business Official Susanna Lopez.
Lopez told the board the district closed the year with revenues of about $479 million, about $6 million (1.31%) higher than the estimate, and reduced expenditures that together increased the unrestricted ending fund balance to roughly $120 million. She said the report is “unaudited” because external auditors have not yet completed the formal audit and that the figures will become final after the fall audit process.
“Once they are audited, then they become audited actuals,” Lopez said, explaining the timing and how…
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