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Sequoia Union reports smaller-than-expected 2024–25 deficit; board approves unaudited actuals
Summary
District finance staff told trustees the 2024–25 unaudited actuals show a roughly $7.8 million deficit—better than earlier estimates—ending general-fund balance about $55 million and reserves above the 8% board target; the board unanimously approved submitting the report for audit.
Sequoia Union High School District trustees unanimously approved the district’s 2024–25 unaudited actuals at their Sept. 10 meeting after finance staff reported a final deficit of approximately $7.8 million, an improved outcome from earlier estimates that anticipated a $19 million shortfall.
District staff said higher-than-expected revenues (including federal funds and local revenue increases tied to interest and leases) and lower-than-budgeted expenditures—principally restricted-fund carryovers for books, supplies and services—narrowed the deficit. The general fund ending balance is about $55 million, with an unrestricted portion of roughly $35.2 million and total reserves equivalent to about 10.66% of general-fund expenditures, above the board’s 8% target.
Finance staff described next steps: the district will submit the unaudited actuals to the county office of education, undergo the independent audit this fall, and finalize the audited report in December. Trustees noted the district’s main revenue sensitivity—property-tax growth—finished at about 4.16% for the year, below earlier assumptions near 5%.
A motion to approve the unaudited actuals passed unanimously; staff will bring the final audited report to the board after the county audit is complete.
Sources: District finance presentation and board discussion, Sept. 10 meeting.
