Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Board approves filing of 2024–25 unaudited actuals; district reports $615,000 deficit and strong reserves
Summary
The board voted to file the district's 2024–25 unaudited actuals with LACOE after a presentation showing $20.708M in revenue, $21.000323M in expenditures (a $615,000 deficit) and multiyear projections indicating reserves that meet LACOE standards.
Paula Montalvo, speaking for the business office, presented the district’s 2024–25 unaudited actuals and urged the board to approve filing the report with the Los Angeles County Office of Education. "Actual revenue was $20,708,000," Montalvo stated, and she reported expenditures of $21,000,323, leaving a deficit of about $615,000 while noting the district’s reserve ratios are strong enough to meet LACOE standards for the next three years.
After questions from trustees, a board member moved to approve filing the unaudited actuals and the motion passed by voice vote. Montalvo emphasized that 82% of the district’s revenue is spent on salaries and said multiyear projections show fiscal solvency for the coming three years. The district will submit the approved report to LACOE as required.
