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District financial update: beginning fund balance adjusted to $6.2 million, payroll costs rise
Summary
Business Director Melissa Reagan presented revised June 30, 2025 financials showing a reduced beginning fund balance of $6.2 million (adjusted via the 2024–25 supplemental budget) and increased payroll and associated payroll expenses.
Business Director Melissa Reagan presented revised financial statements as of June 30, 2025, noting that both expenses and revenue were revised from earlier statements. The district adjusted the beginning fund balance for the current fiscal year to $6.2 million using the 2024–25 supplemental budget. Melissa Reagan also reported that payroll and associated payroll costs had increased since the previously issued reports.
Reagan told the board that the All Fund Revenue Report did not include the beginning fund balance and that the revised numbers were reflected in the attachments to the agenda (Attachment C). The board accepted the report and received the financial documents as presented; the transcript does not include line-item dollar amounts beyond the beginning fund balance adjustment.
