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Rocklin Unified accepts clean 2023–24 audit, approves first interim with positive certification
Summary
Trustees approved an unmodified 2023–24 audit and a positive certification on the first interim report, while staff warned the district’s three-year projection shows deficit spending in out years and highlighted carryover and committed funds including a field-turf allocation.
The Rocklin Unified School District Board of Trustees unanimously accepted an unmodified independent audit of the district’s 2023–24 financial statements and approved the district’s first interim financial report and related budget revisions, including a positive certification that the district can meet its near-term obligations.
Auditor Michael Ash of Christy White told the board the firm issued an "unmodified opinion" on the district’s financial statements and found no reportable findings on internal control, federal awards or state award testing. "This is a very clean audit report," Ash said, adding the firm's review included financial statements as of and for the year ended June 30, 2024.
Director of Fiscal and Purchasing Services Mario DaCosta presented the first interim report, explaining that revenues in the current year rose relative to the adopted budget largely because of carryover in restricted state and local funds. DaCosta said the district’s Local Control Funding Formula (LCFF) remains the primary revenue source and that the first-interim presentation reflects expected carryover and timing-driven variances. He said the presentation shows salaries and benefits at roughly 82.5% of expenditures and that one-time grants contributed to timing differences between the adopted budget and first interim.
Trustee Tiffany Sadoff raised concerns about the multi-year outlook and structural deficit planning, saying the three-year projections "show that deficit spending in the out years is something we need to continue to reevaluate." Superintendent Stock and DaCosta said many one-time state funds from recent years have been used to cover ongoing costs and that by the end of next fiscal year most one-time funds will be spent, leaving a clearer picture of structural pressures.
The board also discussed several clarifying items DaCosta identified in his presentation: a roughly $400,000 carryover on the California Technical Education Incentive Grant (CTEIG) that increased the books-and-supplies line, deferred lottery curriculum spending, and a new committed use for Whitney High School field turf replacement that reduces the unrestricted unassigned balance but does not change statutory restrictions.
By roll call, the board approved the audit report and the first interim positive certification and budget revisions. The motions passed with trustees voting in favor and one abstention recorded earlier on a separate consent-item minutes vote.
What’s next: staff will submit the positive certification to the county office of education, monitor governor’s budget developments in January and continue work on second interim projections and potential structural adjustments to align recurring revenue with recurring expenditures.
