Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
District closes 2024‑25 with $2.2 million operating deficit; cafeteria fund requires major transfer
Summary
The district’s unaudited 2024‑25 financials show an operating deficit of about $2.2 million, a $826,000 transfer largely to cover an unexpected cafeteria fund shortfall, and staff cited a combination of long‑standing bad debt, an unanticipated vendor commission clause and overestimated cafeteria revenue.
The Los Gatos‑Saratoga Union High School District board on Sept. 18 received and approved the district’s unaudited actuals for the 2024‑25 fiscal year, which show the district closed the year with an operating deficit of about $2.2 million.
Patrick (district finance presenter) told trustees the district largely ended the year as projected on revenues and expenditures, but transfers to other funds rose 26%, an increase of about $826,000, driven principally by an unanticipated need to cover a large operating deficit in the cafeteria fund (Fund 13). “We ended the year with an operating deficit of about $2,200,000,” Patrick said.
Staff detailed three main causes for the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
