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Cypress board certifies positive first-interim financial status
Summary
The board approved the district's 2024–25 first interim financial report and certified a "positive" financial status, with projected revenues of about $54.5 million and expenditures near $56.8 million; LCFF was cited as approximately 71% of revenue.
The Cypress School District board voted Dec. 16 to approve the 2024–25 first interim financial report and certify a positive financial condition for the current and two subsequent fiscal years.
Dr. McCollum presented the report and said the district expects revenues of approximately $54,500,000, with roughly $38,900,000 (about 71 percent) coming from Local Control Funding Formula (LCFF) sources. He said expenditures were projected at about $56,800,000 and noted some one-time monies remain for programs such as Expanded Learning Opportunity Program (ELOP) and learning-recovery initiatives.
"We are confident with the report that we are on target," Dr. McCollum told the board, adding that county reviewers had scrutinized the numbers. He explained that a positive certification means the district believes it can meet its obligations for the current year and the next two fiscal years; without that certification the county or state could assume fiscal control.
Trustees asked no further substantive questions and praised the finance team for thorough work. The board approved the interim report by voice vote and recorded the certification as positive.
