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Monticello district audit shows modest revenue surplus, mixed fund balances
Summary
CliftonLarsonAllen presented the 2024–25 audit: general fund revenues exceeded budget (~$72.3M actual vs. $70.3M budget), expenditures were above budget (~$73.3M), and unassigned fund balance stood near $4.7M; board accepted the audit 6–0.
Mary Reddy of CliftonLarsonAllen presented highlights from the district’s 2024–25 audit to the Monticello board on Nov. 17, noting a number of fund-level results and district comparisons.
Reddy said general-fund actual revenues were about $72.3 million, above the $70.3 million budget, and expenditures were about $73.3 million against a $72.6 million budget, producing a net positive change in fund balance of roughly $5.2 million. She explained that assigned fund balance includes approximately $6.2 million in insurance proceeds earmarked for repairs and that unassigned fund balance was about $4.7 million.
Reddy reviewed enterprise and restricted funds: the food service fund recorded revenues near $3.4 million and expenditures around $3.8 million (a loss for the year), community service funds showed overall positive balances but a school-readiness program deficit (about $142,000) that the district monitors, and debt service balances were stable to slightly positive.
She also summarized revenue sources (state ~58%, local taxes ~17%, federal ~5%) and noted adjusted average daily membership (ADM) and weighted ADM both declined modestly year over year. Reddy compared district instructional spending to peer districts and the state, highlighted increases in special education and pupil support spending, and recommended continued monitoring of restricted and program balances.
The board moved to accept the audit (moved by Jeff Hegley, seconded by Casey Root) and approved it on a 6–0 vote.
