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Fullerton district reports $234M in revenue for 2024–25; ending fund balance improves, board accepts unaudited actuals
Summary
Assistant Superintendent Ruben Hernandez briefed the board on unaudited 2024–25 financials: total revenue of about $234 million, a drop in one-time federal/state COVID dollars, and an increase in the district's unrestricted ending fund balance; the board approved the unaudited actuals 4–0.
The Fullerton Joint Union High School District board accepted the unaudited actuals for the 2024–25 fiscal year after a presentation by Assistant Superintendent of Business Services Ruben Hernandez.
Hernandez said the district reported approximately $234 million in total revenue for 2024–25. He said federal revenue fell from roughly $16.9 million the previous year to about $7.6 million, reflecting the exhaustion of one-time COVID-related funding. State revenues also declined as temporary pandemic-related allocations wound down.
On expenditures, Hernandez said salaries and benefits accounted for the majority of general fund costs — about $183 million — and that timing of hires and project delays contributed to savings. The district’s estimated unrestricted ending fund balance moved from a projected $66.5 million to an actual $71.5 million at year end, driven by stronger interest returns, timing of facility projects, and some underspending. He reported a combined fund balance figure of about $88.4 million for 07/01/2025 after restricted and committed adjustments.
Hernandez outlined next steps: auditors will complete the financial audit by mid-December and return to the board in January for audit acceptance; a first interim budget will be presented at the district’s December meeting with updated savings/cost impacts from tentative agreements and early-retirement incentives.
The board voted to approve the unaudited actuals financial report for 2024–25 by a 4–0 roll-call with the student board preferential vote recorded.
What happens next: District staff will finalize the audit with external auditors by Dec. 15 and provide an audited financial report to the board in January; the December interim budget will reflect updates to collective-bargaining implications and any early-retirement incentives.
