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El Monte reports $26M structural deficit in 2024–25 unaudited actuals; board approves filing
Summary
District staff reported a structural deficit of roughly $26 million for fiscal year 2024–25, attributed to the expiration of one‑time state and federal funds; the board approved the district's unaudited actuals submission and directed staff to develop a fiscal stabilization plan.
District staff presented the 2024–25 unaudited actuals on Sept. 15, the first formal accounting after the close of the fiscal year. The report, required by Education Code, showed that expenditures exceeded revenues in 2024–25, producing a structural deficit that district presenters described as approximately $26 million and noted that the district used reserves to sustain operations as one‑time state and federal funds wound down.
"2024–25 was the first year where we felt the revenue cliff with the expiration of that funding," the superintendent said during the cabinet update. Staff told the board that the district intends to implement a fiscal stabilization plan to restore a balanced budget in future years and that the 2024–25 figures will be audited in January; staff said they currently foresee no audit findings.
The board approved the unaudited actuals submission as required under law. Board members asked staff to return with more detailed stabilization proposals, and staff indicated they will bring a plan to future board meetings.
