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SRVUSD accepts 2024–25 unaudited actuals showing $23.7M planned drawdown; board adopts 7% reserve goal
Summary
The San Ramon Valley Unified School District board accepted 2024–25 unaudited actuals that show a planned $23.7 million drawdown and an unrestricted available cash balance of $186,000, and adopted a new fiscal reserve policy aiming to build a 7% combined reserve over time.
The San Ramon Valley Unified School District board on Oct. 20 accepted the district’s 2024–25 unaudited actuals and adopted a new fiscal reserve policy intended to build a strategic reserve on top of the state-required minimum.
Assistant Superintendent of Business Services Danny Hillman told trustees the district closed the 2024–25 fiscal year with combined revenues of about $453.9 million and expenditures of roughly $475 million, a planned overspend of $23.7 million. He said unrestricted ending fund balance totaled $1.456 million but that only about $186,000 was immediately available cash after nonspendable and assigned items were removed.
“The numbers bear out that all of the budget reduction work we did needed to happen,” Hillman said, noting $31.2 million of the ending balance was restricted and therefore not available for general use.
Trustees then considered Board Policy 3100.0, a fiscal reserve policy staff drafted to add a 4% strategic reserve to the state’s 3% economic-uncertainty reserve, with the goal of a 7% total reserve. Hillman said the district intends to build the strategic reserve over multiple years and would operationalize transfers at interim reporting checkpoints so the district remains compliant with state requirements.
Board members asked about timing and mechanics; staff explained transfers would be performed at adopted budget and interim reporting periods and that the 3% state reserve must be maintained for statutory compliance. A motion to adopt the fiscal reserve policy passed by voice vote.
The board approved the unaudited actuals and the new reserve policy in separate voice votes. Hillman said next steps include updating beginning balances for 2025–26, monitoring actual enrollment and ADA, and presenting a FICMAT multi‑year projection report at the November meeting.
The acceptance of the unaudited actuals and adoption of the reserve policy set the district’s near-term fiscal guardrails while staff continues work on multi-year projections and budget adjustments.
