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Stockton Unified board approves 2023–24 unaudited actuals after account-code cleanup
Summary
Chief financial staff presented 2023–24 unaudited actuals showing unrestricted revenues of about $512 million and an unrestricted expenditure increase to $422 million; the board approved the report on roll call (6–1) after staff noted that upcoming retroactive pay will reduce available unrestricted funds.
Joanne Warris presented the district’s 2023–24 unaudited actuals and told trustees the account-code restructuring clarified spending: "the majority of our expenses year in general fund was spent on instruction," she said, adding that about 68% of general-fund expenditures were for instruction.
Warris reported estimated actuals of roughly $512 million in unrestricted revenue and $272 million in restricted revenue for the year. Unrestricted expenditures finished at about $422 million (roughly $15 million higher than estimated), driven in part by payroll increases. Warris cautioned that an October retroactive pay run (4% retro) will reduce the reported ending unrestricted fund balance when paid to staff.
Board approval and questions: Trustees asked about encumbering ESSER funds and ensuring remaining one-time funds are committed. Warris said the district is preparing encumbrance items for upcoming board meetings so qualifying funds will be carried forward or spent as allowed instead of returned.
Motion outcome: The board voted to approve the unaudited actuals on roll call with six trustees in favor and one no vote from Trustee Flores. The motion passed 6–1.
Why it matters: The unaudited actuals close out fiscal year activity for 2023–24, affect the beginning balance for 2024–25 budgeting and guide decisions about encumbrances and one-time funds. Warris said the presentation also helped correct a long-standing audit finding about the district’s accounting practices.
