Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the District Budget topic
No spam. Unsubscribe anytime.
TUSD presents positive second interim budget and multi-year projections
Summary
District business services reported increases to revenues and projected ending fund balances, recommending a positive certification for the current and two subsequent fiscal years; combined general fund projected ending balance was presented at about $204 million.
Tustin Unified's business services team presented the district's second interim budget and updated multi-year projections, reporting improved revenue estimates and a recommendation for a positive budget certification.
David Yang, senior director of business services, summarized changes from the first interim to the second interim, noting unrestricted general fund revenues increased by approximately $4.8 million and combined general fund revenues rose roughly $8.4 million. Yang said increased revenue drivers included budgeted interest (+$2.5 million) and insurance claim reimbursements (+$1.1 million), with restricted revenue increases primarily due to community redevelopment and medical billing.
The presentation showed a projected combined general fund ending balance of about $204,000,000 and projected out-year balances of $179,000,000 for 2025–26 and $164,000,000 for 2026–27. The business services team said projected increases to committed fund balance and one-time discretionary funds contributed to the results but cautioned that some restricted funds will decrease in later years as one-time funds expire.
Why it matters: The second interim report provides the board and public an updated view of district finances and supports the staff recommendation for a positive certification, which indicates the district can meet its fiscal obligations for the current and next two years.
Board action: After the presentation, the board moved and voted to approve the second interim financial report and a resolution related to the district's 2024 second interim committed fund balance.
