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Fallbrook board adopts 2024–25 unaudited actuals after finance presentation
Summary
After a detailed presentation by Assistant Superintendent Armando Fadrillas and Fiscal Director Lindsay Pelling, the Fallbrook Union Elementary School District board approved the 2024–25 unaudited actuals, citing higher final impact aid and fourth‑quarter interest revenue and several restricted carryovers.
The Fallbrook Union Elementary School District board on Sept. 11 approved its 2024–25 unaudited actuals following a presentation by Assistant Superintendent Armando Fadrillas and Fiscal Director Lindsay Pelling.
Fadrillas told trustees the unaudited actuals close the district’s books for the 2024–25 fiscal year and prepare the district for the independent audit due in October. He said the presentation reflects actual revenues, expenditures, carryover amounts and reserves required for state reporting.
Pelling outlined key changes from the district’s June estimates: certificated salaries increased by about $232,000 and classified salaries by roughly $386,000, driven in part by additional hours, substitutes, and a districtwide professional learning initiative. Pelling said employee benefit costs fell by about $839,000 after more employees opted out of offered health benefits, and noted that STRS on‑behalf contributions were recorded as accounting entries that do not affect available funds.
She highlighted large restricted carryovers: the Expanded Learning Opportunities Program carried a remaining balance of about $2.8 million and the Medi‑Cal reimbursement program had about $1.6 million unspent. Materials and supplies decreased by approximately $5.1 million overall, while services and other expenditures rose by about $1.1 million largely because some site and department balances shifted categories.
Pelling summarized the bottom line: final impact aid payments and additional fourth‑quarter interest revenue produced a surplus that the district will carry forward into budget planning for 2025–26. "This puts our district in a strong financial position as we begin the 25‑26 school year," she said.
After questions from trustees, a motion to approve the unaudited actuals and the designated ending fund balances passed on a roll call vote.
The district will incorporate these figures into the 2025–26 budget update and present the first interim report reflecting adjustments as of Oct. 31, 2025.
