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PYLUSD accepts unaudited FY24‑25 figures; staff flags multi‑year deficit risk and a budget stabilization plan
Summary
Trustees accepted unaudited actuals for FY24‑25 showing a combined ending fund balance of roughly $119.5 million (unrestricted ~$66.5M; restricted ~$53M). Staff said revenues exceeded estimates by $4.2M but projected multi‑year deficits require a budget stabilization plan to address declining enrollment and pension/cost pressures.
Fiscal staff presented the district’s unaudited actuals for the 2024‑25 fiscal year at the Sept. 9 board meeting and the board accepted the report as part of routine approvals.
The report showed revenues exceeded earlier estimates by about $4.2 million. The unrestricted ending fund balance closed at approximately $66.5 million while restricted funds totaled roughly $53 million, for a combined ending fund balance near $119.5 million. Staff noted specific variances: additional lottery and interest income and some deferred federal revenues tied to timing of expenditures.
The presentation outlined allocations from the unrestricted balance including site carryovers, textbook set‑asides ($5M), a $10M declining enrollment reserve, a deficit mitigation fund (~$8.9M) and contingency reserves (5% of expenditures). Staff also shared multi‑year projections showing an adopted FY25‑26 deficit and projected deficits in FY26‑27 and FY27‑28 that would draw down reserves if no corrective actions are taken.
Trustees thanked fiscal staff for the detailed presentation and were briefed on next steps: the district audit will be presented in December and staff will return with a budget stabilization plan and first interim reports for FY25‑26.
