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Board approves first interim budget submission; narrowly votes to repurpose part of long‑held stabilization reserve
Summary
Carlsbad Unified’s board accepted the first interim financial report for the period ending Oct. 31, 2024, after detailed discussion of revenue drivers, STIRS on‑behalf accounting and carryover funds. The board later voted 3–2 to reclassify part of a multi‑year stabilization reserve into a Board LCAP priorities designation to fund potential instructional priorities.
Assistant Superintendent for Business Eric Dill presented the first interim financial report (period ending Oct. 31, 2024) at the Dec. 18 board meeting, summarizing revenue and expenditure changes since adoption and explaining key drivers.
Dill told trustees the district would issue a "positive" certification — the district can meet its obligations over the current and next two fiscal years while maintaining required reserves. He explained that certain entries ("STRS on‑behalf") increase both revenue and expenditures on paper but do not affect the bottom line, and he walked auditors and trustees through restricted vs.…
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