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Board hears second interim report showing $12.6 million gap; approves qualified certification
Summary
Chief business official Melanie Nagy told the governing board the district projects a roughly $12.6 million general fund shortfall for 2025-26 and must rely on one-time restricted carryovers; the board approved the second interim report 4-1 after trustees pressed for vendor and consultant detail.
The governing board received the district's second interim financial report on March 12, which showed estimated general fund revenue of $87.9 million against projected expenditures of $100.5 million, producing a roughly $12.6 million shortfall for 2025-26.
Melanie Nagy, the district's chief business official, said the gap will be covered in the near term by one-time restricted carryovers from prior-year grants but warned that the district "must rebuild our reserves." She described multi-year assumptions that factor in LCFF COLA estimates and rising pension costs, and said the district expects a positive certification for 2026-27 after…
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