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Oakdale Joint Unified reports narrower deficit in first interim budget; board approves report
Summary
Trustees received the first interim financial report showing estimated general fund revenues of about $82.5 million, a current-year deficit near $1.1 million and projected modest deficits in the multi-year projections; the board approved the report and acknowledged one-time carryover funds and state revenue assumptions.
District finance staff presented the first interim financial report as of Oct. 31, 2024 and summarized multi-year budget assumptions for the Oakdale Joint Unified School District.
Cassandra (district finance staff) explained differences between the adopted budget and the first interim: the adopted budget uses the governor’s May revise while the first interim reflects the enacted state budget and includes prior-year carryover and one-time grants. In the presentation staff reported estimated general fund revenues of about $82.5 million and cited approximately $5.1 million in carryover funds from one-time grants. The presentation noted an estimated current-year deficit of about $1.1 million and projected a modest deficit in the following year under current assumptions.
Staff emphasized that roughly 75–76% of expenditures are for employee salaries and benefits and that 85% of district revenues are state-funded, meaning shifts in state revenue and minimum-wage or negotiated labor costs could materially affect future projections. Staff also pointed trustees to upcoming budget milestones: the annual financial report presentation in January and the governor’s next budget outlook that will inform second interim revisions.
After the presentation the board moved, seconded and approved the first interim report. Trustees also accepted the district’s 2023–24 annual fiscal report, which included external audit findings. Staff said the audit identified a recurring finding under the Expanded Learning Opportunities Program because the district falls a few days short of the program’s additional-day requirement; staff described the finding as expected and not materially impairing overall financial statements.
The board also heard a brief update that a local bond measure passed on the ballot with 58.4% of the vote, which staff said will provide funds for facility repairs and may enable access to additional state-level funding sources referenced in the presentation.
