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Board approves second interim budget; bond update and HVAC contract move forward
Summary
Trustees approved the district's 2nd interim financial report after CBO Teresa reported stronger-than-expected property-tax revenue, a new state PD block grant of about $630,000 earmarked for training, and improved reserve projections; facilities staff also described bond timelines and trustees approved a contract at the meeting.
Trustees approved the district's second interim financial report after receiving an update showing better-than-projected local revenues and a plan to use a new state professional-development block grant.
Chief Business Officer Teresa (speaker 25) summarized the district's finances: total revenue projected at about $62.1 million with roughly 75% in LCFF/local property-tax funding. She flagged a new state PD discretionary block grant of approximately $630,000 that the district will prioritize for professional development.
Teresa told the board that property-tax projections for the year landed at roughly a 6.5% increase instead of the 4.5% assumption used earlier; that shift improved multi-year projections and reserve estimates. The budget presentation also included local site grants from home-and-school clubs that were added to revenue and corresponding site spending lines once grant letters arrived.
Separately, facilities consultants described next steps for bond projects: prequalification of HVAC contractors, DSA review pending, a tentative pre-bid meeting and bid-opening schedule (with planned bid opening and award dates in April) and CMAS equipment preorder plans. The board moved to approve a contract presented at the meeting and voted to approve the 2nd interim budget report.
Why it matters: The improved revenue picture reduces near-term deficit pressure and gives the district room to fund strategic initiatives, including professional development and curriculum adoptions tied to the strategic plan.
What's next: Staff will close the books and bring adopted budget materials in June; bond project bid windows will proceed subject to DSA stamping and contractor selection.
