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Arcadia Unified certifies 1st interim; staff outlines enrollment gains, reserve posture
Summary
The board certified the district's 1st interim financial report with a positive solvency certification. Staff reported increased LCFF revenue from enrollment growth, a projected general fund deficit driven by removal of planned transfers, and sufficient reserves to meet the county 3% threshold.
Arcadia Unified's board on Dec. 10 approved the 1st interim financial statement and certificate of solvency for the period ending Oct. 31, 2024, after staff presented updated revenue, expenditure and reserve projections. Fiscal Director David Bong said enrollment increases and stronger LCFF revenue were positive drivers, but removing previously planned transfers to the general fund produced a larger projected change in fund balance compared with the adopted budget.
Bong walked trustees through charts showing a projected unrestricted general fund deficit for the year (driven largely by removing an expected $4 million in incoming transfers) and a total general fund change in fund balance near $12.6 million. He stressed that the district's ending fund balance is projected at about $43 million and that the unrestricted reserve exceeds the county's 3% threshold; the board voted 5–0 to certify the interim report. Trustees asked clarifying questions about block grants, one‑time restricted funding, retiree benefits and the tech reserve; staff said those funds provide a runway and that the district will monitor enrollment and spending in the two out years.
Why this matters: The 1st interim certification is a formal, legally required update on the district's fiscal health and is used by the county office of education to assess solvency over the current and two out years.
