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District posts $2.9M ending general‑fund balance; meets 3% reserve requirement
Summary
Director of fiscal services presented 2024–25 unaudited actuals: revenues came in higher than estimates (~$99M vs ~$96M), with an ending general‑fund balance of $2.9M (meets the state's 3% reserve requirement); projections show reserves rising over the next three years.
The board received the district’s 2024–25 unaudited actuals and fund‑balance report from the director of fiscal services.
The presentation compared estimated to unaudited actual revenues and expenses. Total estimated revenues were cited at about $96 million with unaudited actuals approximately $99 million; the accounting recognition of the state STRS contribution (on‑behalf of the district) and transfers from other funds contributed to adjustments. The district’s ending general‑fund balance for 2024–25 was reported at $2.9 million (versus a projected $2.1 million), which the director said meets the state 3% minimum reserve requirement. The special‑education general‑fund contribution was reported at approximately $13.4 million.
Staff reviewed other funds (building, developer fees, county facilities grant) and noted the building fund balance of about $65.4 million for bond projects. Trustees asked clarifying questions about Medi‑Cal audit revenues, STRS on‑behalf entries and reserve projections; staff said reserves project to about 3.7% in 2026–27 and about 4.47% in 2027–28 under current assumptions.
The board approved the unaudited actuals by motion.
