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Board approves Ventura Unified second interim report showing short-term reserves but widening out‑year deficits
Summary
Ventura Unified staff presented a second interim report showing a positive certification for 2025–26 with roughly $26.8M in unrestricted reserves; the district projects reserves falling to about 4% in out years and a possible $11.4M deficit by 2027–28 under current assumptions, prompting discussion of further reductions and reliance on one-time funds.
The Ventura Unified School District board approved the district’s second interim financial report after a staff presentation that framed the current-year position as stable but warned of deteriorating out-year forecasts.
"The fiscal status of our second interim report is positive certification," Chief Business Official Dr. Mirza told the board, noting the district currently projects an unrestricted general fund reserve of roughly $26.8 million, equal to about a 10.25% reserve for 2025–26. He said that without additional revenue or cuts, reserves could fall to about 4% in an out year and that one multi‑year scenario showed an $11.4 million deficit in 2027–28.
Mirza reviewed assumptions behind the multi‑year projection: a projected enrollment decline of roughly 300–330 students, updated LCFF estimates that added roughly $1.3 million from P‑1 certification, and several one‑time grant changes. He also described technical accounting differences tied to recent bus purchases and grants that reduced expected local revenue because the grant amount was deducted from vendor invoices rather than arriving as a separate check.
Trustees pressed staff on reserves, extraordinary-cost special‑education placements and whether projected state-level proposals could alter the outlook. Board member questions focused on contracted services increases (noting a roughly $259,000 expansion in some contracted services and utility increases), benefits rate updates, and whether the district had drawn on short‑term TRAN borrowing (the district said it had not).
After public comment from parents and staff urging preservation of counseling and student‑support positions, a motion to approve the second interim report passed 4–0 (Trustee Peterson was recorded absent). Dr. Mirza said the adopted report will be used for the district’s official certification to the county and state and that staff will continue to refine projections at estimated actuals and at budget adoption.
The district asked the board to note that the multi‑year projection excludes the governor’s proposed one‑time funds pending May revise and June budget adoption; Mirza and trustees said the district would monitor the May revise and present updates in upcoming meetings. "We should see a surplus of $473,251 as compared to first interim's projected negative $1,000,000," Mirza said of the updated six‑month data window, while cautioning that structural deficits in later years still require additional actions.
Board approval means staff will proceed with estimated‑actuals planning and the adopted budget cycle; trustees and staff signaled that additional personnel and program reductions remain a possibility as one‑time grant funds are exhausted.
