Azusa Unified approves first interim report and sale amendment; projects a potential $3M third-year shortfall
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Summary
The Azusa Unified Board on Dec. 16 approved the district's 2025-26 first interim financial report, accepted a revised surplus property purchase amendment, and was told multi-year projections could show a roughly $3 million shortfall by year three unless corrective actions continue.
The Azusa Unified School District Board approved its 2025'26 first interim financial report on Dec. 16 and also approved a fifth amendment to a purchase-and-sale agreement for surplus property.
Chief Business Officer Jamal presented the interim report, which shows actuals through Oct. 31 and projections through June 30. The district's projected revenue rose about $4 million from the adopted budget to approximately $134.9 million, driven by additional state grants, CTE funding and lottery funds. Projected expenditures decreased from adopted figures to about $142.6 million because the district committed funds for items without spending plans and adjusted its assumptions.
Jamal said the district projects it will meet financial obligations in the current year and the following year, but a hypothetical third year could show a shortfall of roughly $3 million. If that scenario materializes, the district could use Fund 17 (a special reserve) to cover the gap while continuing efforts to right-size spending. The board accepted the interim report with a positive certification.
On surplus property matters, Superintendent Ortega reported the board had received an additional nonrefundable deposit and asked the board to approve a fifth amendment to a purchase-and-sale agreement for the former Sierra High School property (buyer reference in the transcript: Malia Holmes Incorporated). The amendment and the related approval were moved and passed.
Other actions at the meeting included approval of several committee appointments and the adoption of Resolution 25-26.12, an early-notification retirement bonus. The meeting adjourned at 9:33 p.m.
What happens next: district staff will continue to monitor ADA and revenue assumptions, finalize committee appointments, and bring any identified budget adjustments to the board as part of second interim reporting.