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Board approves positive certification of first interim budget amid reserve concerns
Summary
District business officer presented the 2024–25 first interim report, noting tighter cash balances and a current-year ending cash balance of $3,328,688; after discussion about reserves and enrollment trends, the board approved positive certification by roll call.
District business staff presented the 2024–25 first interim report and multiyear projection, warning that reserves are tightening as enrollment and revenue assumptions shift.
The business officer reported the district’s current cash balance for the end of the fiscal year is "$3,328,688," and explained that the district must manage payroll and accounts payable while awaiting property-tax receipts in January and April. Staff noted the district’s unrestricted reserve requirement (4% state minimum) of $603,885 does not cover one month of payroll costs, which the presentation put at about $750,000. After questions from board members about enrollment assumptions, pupil funding calculations and the treatment of one-time grants, the board voted to approve the positive certification of the first interim report by roll call.
Board discussion emphasized special-education funding pressures (staff said the district receives about $400,000 in special-education funding against approximately $1,900,000 in special-education costs) and the need to monitor multi-year projections. The board set a budget workshop in January to refine assumptions ahead of the second interim report.
