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Board hears cash‑flow projections and a clean audit, but auditors find several state and federal compliance issues
Summary
Assistant superintendent Raphael Guzman reported a February ending cash balance of about $142.9 million and projected year‑end cash near $127 million; external auditors gave an unmodified opinion but identified multiple financial, federal and state compliance findings and a corrective action plan.
Raphael Guzman, assistant superintendent of business services and chief business official for Inglewood Unified School District, told the board the district’s February beginning cash was about $151 million, with revenues of roughly $9 million and disbursements of about $16 million, leaving an ending balance near $142.9 million and a projected year‑end cash balance of about $127 million.
Guzman cautioned members that cash‑flow projections are distinct from the adopted budget and noted a mid‑year jump in certificated and classified salary expenditures driven by a retroactive payment for a salary increase. He said multi‑year projections currently align with interim budget estimates and that district cash levels remain “very healthy” for a district…
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