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Monrovia Unified board certifies positive second interim financial report, staff details projected surplus
Summary
District fiscal staff presented the second interim financial report showing a stronger unrestricted fund balance and projected multi-year stability; the board approved a positive certification 4-0 and asked for follow-up detail on specific line items.
Monrovia Unified School District—s finance team presented a second interim financial report that showed improved projections for the general fund and recommended a "positive" certification that the district can meet its financial obligations for the current and next two fiscal years; the board approved the certification by a unanimous vote.
Director of Fiscal Services Glenda Herrera told the board that projected total revenues (restricted and unrestricted) are approximately $97,000,000 and that projected expenditures had shifted up by about $2,160,000 since budget adoption, largely for capital outlay to address deferred equipment and facility repairs. Herrera reported a projected unrestricted ending fund balance of about $30,190,000 and noted a required 3% reserve (about $2,910,000). The presentation highlighted completed and in-progress facility projects (Braddock Elementary fire-damaged classroom reconstruction, LED lighting upgrades, moisture barriers) and the district—s multi-year projection under current assumptions.
Chief financial presenter Dr. Giro (presenting Measure M and budget context) said the district had improved its trajectory after implementing a fiscal stabilization plan and changes such as right-sizing staffing and moving some balances from Fund 67 (self-insurance) back to the general fund. He asked the board to approve a positive certification and to continue monitoring the governor—s May revision and the final June budget process.
Board members asked substantive questions about savings sources, benefit cost increases and the calculation producing a $14.8 million positive balance referenced by a public speaker. Dr. Giro replied that savings came from staffing right-sizing, reductions in projected expenditures and transfers from Fund 67; Herrera explained that benefits costs and step/column salary movements can offset head-count reductions.
The board voted 4-0 to approve a positive certification for the second interim report. The finance team said it will incorporate the governor—s May revision into the final 2026-27 budget and return to the board in June for formal adoption.
What—s next: Staff will provide more detailed line-item breakout and the board will consider the governor—s May revision and the proposed 2026-27 budget during the scheduled budget cycle.
