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Travis Unified board reviews Prop 28 spending and unaudited 2023–24 financials; developer fees buoy reserves
Summary
District staff reported $773,065 in Prop 28 funds for 2023–24 and described hires and allowable uses; unaudited 2023–24 actuals show about $83 million in general fund revenues and $85 million in expenditures with some one‑time revenue boosts, while developer fees increased significantly last year.
District staff reported on the Williams Act compliance and the Prop 28 annual report for 2023–24, then presented unaudited financial results for the fiscal year ending June 30, 2024.
Joe (district staff) told the board the district is in full compliance with the Williams Act’s textbook and instructional material assurances. He then summarized the Prop 28 annual report: Travis Unified’s allocation for 2023–24 was about $773,065, the program emphasizes hiring arts, music and coding (AMS) personnel with an 80/20 staffing/non‑personnel rule, and the district used the funds to hire certificated AMS teachers and to support non‑personnel items such as professional learning and instruments. Staff said the district also supplemented AMS with local funds beyond Prop 28 and that the CDE approved a waiver that provided near‑term flexibility.
Gabe presented the unaudited actuals for 2023–24: approximately $83,000,000 in general fund revenues (LCFF largest component; about $10 million from property taxes), roughly $85,000,000 in expenditures (predominantly salaries and benefits), and ending fund balances that were stronger than previously estimated due to one‑time items including accelerated Impact Aid payments, higher interest earnings on county invested cash, and some remaining federal COVID funds. He cautioned those one‑time revenues are not ongoing and that the district still faces structural budget pressure in out years; the county office requires a first interim resolution outlining reduction targets.
Gabe also noted developer fees were strong in 2023–24 (about $7,000,000 collected that year) and that current cash in the developer fee fund (Fund 25) was around $16.7 million at the reporting time; staff tied developer fee resources to upcoming projects including portables and early stages of the Golden West expansion.
The board approved the annual report and the unaudited actuals and discussed next steps: first interim adjustments, county reporting, and ongoing monitoring of enrollment, LCFF changes and cost drivers such as STRS/PERS increases. Trustees thanked staff and emphasized the need to document any intentional deviations from strategic reserve targets when the board elects to use reserves purposefully.
