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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 some grants and expenditures can shift between fiscal years depending on delivery and invoicing.
Board members pressed staff on items that drive future-year projections. Trustee Brandy Clark asked for clearer separation of recurring revenue versus one-time carryforward balances, noting the presentation’s format can make projected deficit spending appear larger than it is. Clark said she was concerned about projected out-year deficits and asked the business office to present reserves and carryforwards distinctly.
Trustee Clark said: “We shouldn’t be projecting to deficit spend if the board does not want to deficit spend. I would like our reports to reflect that transparently.”
Lopez and Superintendent Dr. Rubakava (as referenced in the transcript) answered that the model is intentionally conservative: it does not include possible future cost-of-living adjustments (COLAs) and reflects uses of expiring one-time funds (such as federal ESSER) that lower ongoing revenue. Lopez also flagged an enrollment variance: the district’s latest enrollment count was about 72 students below projection, which she estimated could represent roughly $1.5 million in funding if not recovered before the state’s census date.
Several trustees requested more granular line-by-line backup in follow-up materials. Trustee Claudia Leiva and others discussed how reserve drawdowns and planned transfers affect multi-year projections, and the superintendent said staff will prepare additional explanatory materials and present them at interim reporting milestones.
When the motion to approve the amended unaudited actuals was called, the roll call recorded ayes from Student Board Member Carvallo, Mr. Williams, Mr. Johnson, Ms. Leiva and Ms. Clark; President Luna voted no. The motion carried 5–1. The board directed staff to provide clearer presentation of beginning balances, one-time sources and the assumptions used in multi-year projections at future budget workshops.
What’s next: Staff will submit the unaudited actuals to the county and incorporate the closing balances into the district’s multi-year projections; the first interim update, covering July 1–Oct. 31, will be presented in December.
