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Washington Unified board approves unaudited actuals, commits funds to stabilization
Summary
Trustees approved the district—s unaudited actuals showing a roughly $6.1 million improvement in surplus and authorized reserves and transfers aimed at budget stabilization while discussing OPEB, special-education contributions and multiyear projections.
The Washington Unified School District board on Tuesday approved its unaudited actuals for fiscal year 2023–24, adopting staff recommendations to set aside funds for budget stabilization and to report the results to the county office of education.
District fiscal staff told trustees that revenue exceeded estimates by about $3.3 million and expenses were roughly $2.8 million below projections, producing a net positive movement in the district—s surplus of roughly $6.1 million. The district—s combined general fund balance rose to about $51.95 million from $46.79 million at the start of fiscal year 2023–24, the presentation said.
Why it matters: the board must keep certain reserves to meet state-mandated limits and to insulate the district against fluctuations in state funding. Staff recommended transferring $16.25 million to a budget-stabilization fund (Fund 17) while continuing to monitor multiyear projections showing variable reserve percentages across coming years.
Board discussion focused on the district—s projected out-years, the role of the OPEB (other post-employment benefits) set-aside and the transparency of restricted versus unrestricted fund accounting. Trustees asked staff to provide the exact OPEB balance and to return with updates on the budget-stabilization plan at a future meeting.
The board voted, by voice, to approve the unaudited actuals and related resolutions, including adopting the Gann limit (Resolution 2425-33) and certification of signatures (Resolution 2425-34). Auditors are scheduled to arrive in late October to begin the formal audit.
What—s next: staff will submit the unaudited actuals to the county office of education, the auditors will conduct the formal audit in October, and the first interim financial report is scheduled for December.
