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Gilroy Unified receives clean audit; first interim shows reserves but structural pressures from special education costs
Summary
External auditors issued an unmodified opinion on the district’s financials and bond measures. The board accepted the audit and discussed a multiyear projection showing reserves above the board’s minimum but a structural operating deficit driven in part by special-education underfunding.
Auditor Spencer Blanda (speaker 17) told the Gilroy Unified Board that the fiscal-year audit for 2024–25 resulted in an unmodified (clean) opinion for both the district’s financial statements and Measure P and Measure E bond audits. He said auditors found no material misstatements and reported no internal-control or compliance findings.
The auditor highlighted that total assets were down from the prior year primarily due to depreciation and the absence of certain one-time state and federal grants that had…
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