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Board approves second interim report; district projects multi-year stability despite near-term deficit
Summary
Barstow Unified staff presented the districts second interim financial report, saying unrestricted revenue is projected at roughly $93.8 million and total expenditures at about $162.2 million. The board approved a positive certification while staff noted a projected approximately $9 million general-fund deficit in the second year and said they will monitor enrollment, special-education costs and negotiations.
District business services staff presented the second interim financial report and recommended the board approve a positive certification that the district can meet its financial obligations for the current year and the next two fiscal years. Presenter Beaton told trustees the districts unrestricted revenue is projected at roughly $93.8 million and that LCFF is the dominant revenue source, representing about 91% of unrestricted revenue.
The report outlined projected total expenditures of approximately $162.23 million and an ending fund balance projected at about $33 million, with restricted balances and assigned funds noted for COP payments, deferred maintenance and other obligations. Presenter Beaton said the district continues to meet state fiscal criteria and is not projecting cash-flow concerns but cautioned that projections are subject to actuals.
Board members asked follow-up questions about projections and carryover; Beaton acknowledged a projected general-fund deficit of about $9 million in the second year and said staff would examine services, encumbrances and the potential to reclassify expenditures to restricted funds where allowable. Trustees moved, seconded and approved the recommendation by voice vote.
Trustees asked staff to return with actuals and further details on historical carryover and how much of the budgeted amounts historically remain unspent, to better understand the districts mid-term position.
