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Beaumont Unified certifies 2024‑25 second interim, projects multi‑year reserves above state minimum
Summary
The Beaumont Unified School District board certified its 2024‑25 second interim financial report March 4, noting an approximate $500,000 increase in projected ending balance versus the first interim and confirming the district meets the state 3% reserve requirement though multi‑year district‑set reserves decline over the projection window.
Beaumont Unified School District trustees certified the district’s 2024‑25 second interim financial report at the March 4 board meeting, after a presentation by district staff on revenue, expenditures and reserve projections.
The presentation said district revenue increased about $1.4 million since the first interim, driven by roughly $600,000 in federal program funding, an increase of about $132,000 in state mandated‑cost revenue and approximately $700,000 in local revenue (including interest and redevelopment funds). Expenditures were reported to have increased by about $900,000, yielding a net increase of roughly $500,000 to the projected ending balance compared with the first interim.
The presentation noted Beaumont Unified operates roughly a $268 million budget and projected to carry over about $72.5 million. The district reported restricted ending fund balance growth of about $8.9 million and that the sum of restricted reserves, commitments and assignments equates to approximately $48 million. The district said its reserve for economic uncertainties is 11.33% this year (about $25.8 million); multi‑year projections show reserves declining to 9.77% in year two and about 5.1% in year three, above the state‑required 3% but under the board’s previously adopted 11.33% target in later years.
District staff explained some variance is attributable to updated certified enrollment and Local Control Funding Formula (LCFF) calculations, included a recent state confirmation that a base year could be established for unduplicated pupil rate calculations, and said average daily attendance (ADA) was trending near 93.24% against a projected 94%.
A trustee moved to certify the second interim report and the motion carried. No specific vote tally was recorded in the minutes other than ‘‘motion carries.’’
