ABC Unified closes FY2023–24 with positive unaudited actuals; board urged to monitor declining enrollment and reserves

The ABC Unified School District board approved unaudited financial results for the fiscal year ended June 30, 2024, receiving a presentation showing revenues and expenditures and discussing reserve levels and enrollment trends.

"Revenues for last year for the general fund total $346,118,119," the district presenter said, later summarizing that total expenditures were roughly $335,033,785 and that the year closed with an excess before transfers. After required transfers and uses (including deferred maintenance and restricted funds), the district reported a net change of about $3.4 million and an unrestricted general-fund balance of approximately $28.4 million.

The presenter noted that a sizable portion of the district's fund balance is restricted (federal and state monies that must be spent on specified programs) and that the district has been using one-time federal COVID-era funds that will not recur.

Board members asked how enrollment and one-time funding affect near-term finances. The district reported an enrollment of about 17,616 students at the time of reporting, a decline from roughly 18,000 the previous year. Trustees discussed projections that statewide declines could continue through 2030, and staff said they typically finalize attendance reports for state reporting by Oct. 31.

Trustees also asked about retirement trends and typical annual retiree counts; staff estimated roughly 30–35 teacher retirements in an average year, noting that exact figures vary by year.

The board approved submission of the unaudited actuals to the county by the statutory deadline; the presentation noted that external auditors will complete the formal audit and report back later in the school year.

The board and staff agreed to continue monitoring enrollment, restricted-fund spending and reserve levels as part of ongoing budget oversight.