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Board approves 2024 annual financial report showing $38.7M expenditures and $2.4M carryforward
Summary
The governing board voted to adopt the FY2024 annual financial report after a presentation by Lisa Tatum. The report showed $38.7 million in expenditures, a $2.4 million carryforward, nearly $10 million in bond building expenditures and full spend-down of ESSER III funds by September 2024.
Lisa Tatum presented the Catalina Foothills Unified School District's FY2024 annual financial report, telling the board that expenditures totaled $38,700,000 and the district will carry forward $2,400,000 into the next fiscal year.
Tatum said the Classroom Site Fund was budgeted at $758 per weighted student and that DAA (district additional assistance) expenditures increased by $3,400,000 from the prior year, largely driven by capital-override spending and construction costs. The report noted nearly $10,000,000 in bond-funded building expenditures, which included the strings addition at Catalina Foothills High School, districtwide security improvements and the purchase of new buses.
On federal- and state-funded projects, Tatum reported an ending balance of $1,100,000 and confirmed that ESSER III federal relief funds had a remaining balance of $30,000 that was fully expended by September 2024. Board members discussed continuing programs such as counseling and math-tutoring inside the school day and noted that some services previously funded with ESSER were absorbed into other revenue sources.
Following questions about funding details, a board member moved to approve the annual financial report as presented; the motion was seconded and the board approved the FY2024 annual financial report.
