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Mt. Diablo Unified certifies 2023-24 unaudited actuals after finance presentation
Summary
The Mt. Diablo Unified School District board received a detailed presentation of the districts unaudited 2023-24 financials, heard questions about unspent LCAP and one-time funds, and voted 5-0 to certify the unaudited actuals and several routine budget resolutions.
The Mt. Diablo Unified School District board on Sept. 11 certified the districts unaudited 2023-24 financial reports after a presentation from district finance staff and a round of trustee questions. The board voted 5-0 to approve certification.
Gustavo Aguilera, identified in the presentation as the districts executive director of VISTA services, told trustees the general fund was projected to receive "almost $500 million in revenue" for 2023-24 and that Local Control Funding Formula (LCFF) revenue accounted for roughly 68% of that total. He said the district had made one-time transfers, including a reported $5 million to deferred maintenance and $55,000 to the cafeteria fund for meal reimbursements, and that ESSER pandemic funds had been fully spent down by the district.
Aguilera and other finance staff walked trustees through differences between the adopted budgets estimated actuals and the year-end unaudited numbers, noting net increases in restricted fund balances driven by unspent program dollars and some reclassifications. He said unrestricted salary-and-benefit spending was lower than projected primarily because of vacancies, and that some LCAP (Local Control and Accountability Plan) funds would carry over to 2024-25 because they were not yet expended.
Trustees pressed staff on why some LCAP line items went unspent, whether financial systems updates could improve midyear tracking, and how the district plans to manage forecasted deficit spending in the multiyear projections. Board members praised staff for planning that allowed the district to support a 9% salaried increase for 2024-25 despite projected multi-year deficits.
Trustee Zavien moved and Trustee Mason seconded the certification of the 2023-24 unaudited actuals; Trustee Ochoa recorded a Yes vote and the motion passed 5-0. The board also approved a related appropriations-limit calculation and a set of routine budget resolutions discussed during the presentation.
Next steps: the unaudited actuals will be audited by external auditors (presentation noted the audit report is due to the state in December) and the board will review first- and second-interim budget reports as the district finalizes 2024-25 planning.
