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Glendora Unified certifies second interim report as 'positive' but projects multi‑year deficits
Summary
District finance staff presented the 2024–25 second interim showing an updated ending fund balance of about $15.0 million for 24–25, modest revenue increases, and projected multi‑year deficits (approximately $1.6M in the current year, ~$2.0M in 25–26 and ~$3.7M in 26–27); the board certified the report as 'positive' and will submit to LACOE.
Glendora Unified School District financial staff presented the 2024–25 second interim report on March 10 and the board certified the report as "positive," meaning the district expects to meet its financial obligations for the current year and the next two fiscal years, with continued monitoring.
Janette, the district finance officer, led the multi‑year assumptions and forecasts. Staff reported current enrollment at 6,369 pupils and explained funded average daily attendance (ADA) calculations: funded ADA for 24–25 is 6,185.94 while the district’s current ADA is 6,135.9, a funded difference of about 50.04. District presenters said unrestricted general fund revenue was revised from approximately $78.2 million at first interim to about $78.8 million at second interim and unrestricted general fund expenditures were updated to about $64.6 million.
Staff identified a slight increase in the district’s unrestricted ending fund balance — from the first interim projection of $14.8 million to a second‑interim estimate of roughly $15.0 million for 2024–25 — but the multi‑year outlook shows a declining ending balance: projected ending balances were presented as approximately $13.0 million for 25–26 and $9.3 million for 26–27, with ongoing deficit spending estimated at roughly $1.6 million in the current year, nearly $2.0 million in 25–26 and about $3.7 million in 26–27.
Staff also noted assumptions used in the projections, including COLA changes (the January Governor’s proposal reduced COLA from 2.93% to 2.43% for 25–26) and unduplicated pupil percentage projections. Staff highlighted special education cost pressures and that general‑fund contributions to special education remain a significant structural challenge. Presenters told trustees the state’s May revise, the P‑2 ADA submission and LACOE review (due March 17) will affect final numbers and next steps for the district’s financial stabilization plan.
Trustees asked clarifying questions about funding methodology, special education contributions and whether federal funds could increase for special education; staff answered that SELPA advocacy and possible federal funding changes could help but that uncertainty remains.
The board moved, seconded and approved certification of the second interim report by voice vote; staff will submit the report to the Los Angeles County Office of Education for review.
