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Chico Unified posts positive 2023–24 unaudited actuals; reserves, ADA increases noted
Summary
Finance staff presented Chico Unified's 2023–24 unaudited actuals showing a roughly $7.3 million total positive change in fund balance, improved attendance/ADA funding and larger restricted balances tied to state grants; the board approved the unaudited actuals and the related Gann limit resolution unanimously.
Finance staff presented the district's unaudited actuals for fiscal year 2023–24 and the board approved the report in open session.
Marie Hartman and a colleague described that the district ended the year with a positive change in unrestricted fund balance of about $6.5 million and a total positive change (restricted plus unrestricted) of about $7.3 million. They attributed changes to slightly higher ADA (attendance-driven LCFF revenue), higher fair market value adjustments related to interest rates and increased restricted revenues from state grants (including the learning recovery block grant).
Staff also emphasized that salaries and benefits remain the largest expenditure category (approximately 83–89% depending on accounting scope). They noted the district's cash position helps manage potential state deferrals. The board then passed the unaudited actuals and later approved the routine Gann Appropriations Limit resolution as part of the audited reporting process.
Board members praised staff for enrollment and attendance improvements and asked for a future audit report when the annual audit is completed.
