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Board adopts 2024-25 unaudited actuals, affirms Gann limit and Ed. Code teaching assignment
Summary
Trustees approved the district's 2024-25 unaudited actuals showing roughly $146 million in revenue and $153 million in expenditures, adopted Resolution No. 12 establishing the Gann appropriations limit, and approved a clerical Ed. Code teaching-assignment resolution.
The Redwood City School Board on Oct. 8 approved the district's 2024-25 unaudited actuals and adopted two routine resolutions required by state law.
Rick, presenting the financial results, said the unaudited actuals show approximately "$146,000,000 of revenue" for 2024-25 and detailed how final variances from estimated actuals narrowed compared with prior years as the district recovered unspent purchase orders and adjusted for employee absences. He told trustees the district remains fiscally solvent by the state standard and that multiyear projections will be updated in the first interim report in December.
Why it matters: The unaudited actuals are the year-end accounting that feeds the district's budget development for 2025-26 and into the first interim report. Trustees discussed fiscal stabilization measures and the work of the budget committee to close projected gaps in out years.
The board then adopted Resolution No. 12, establishing the 2024-25 Gann appropriations limit (reported at about $89.5 million) and acknowledging a projected 2025-26 limit of approximately $94.3 million. Finance staff said the resolution carries no direct fiscal impact and that the district is within constitutional appropriations limits under Proposition 4.
Trustees also approved a clerical Education Code teaching-assignment resolution to correct an omission on the 2025-26 assignment list; HR staff described the item as a clerical error and the county office of education confirmed the action can be approved now.
Outcome: The unaudited actuals and both resolutions were approved by board motion and unanimous voice votes. Trustees thanked finance and HR staff for preparing the reports and for one-on-one briefings provided prior to the meeting.
Next steps: Staff will continue work on the first interim report in December and the budget committee will pursue additional fiscal-stabilization options for 2026-27 and beyond.
