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Arcadia Unified approves 2nd interim financial report with positive certification
Summary
The board approved a 2nd interim financial report showing increased LCFF revenue driven by higher attendance and enrollment, a larger projected deficit due largely to the removal of a one-time contribution to the general fund, and a request for a positive certification that the district will meet its obligations.
The Arcadia Unified School District Board of Education approved the district's 2nd interim financial report for the period ending Jan. 31 and adopted a positive certification that the district will meet its financial obligations.
Mister Bong presented the report and said the 2nd interim reflects roughly $1.7 million more in revenue versus the 1st interim, driven primarily by higher Local Control Funding Formula (LCFF) revenue tied to stronger enrollment and attendance. He also described increases in expenses and transfers of about $2.1 million, mostly from removing a planned contribution into the general fund; taken together the report projects a total fund deficit of roughly $6.2 million and an unrestricted general fund deficit near $2.9 million, with an anticipated year-end general fund balance around $42 million.
Bong emphasized the role of the district's absence-recovery work in boosting attendance and LCFF projections, noting a Phase 1 attendance rate of 98.7% and a conservative Phase 2 projection of 98.5%. The board's motion to approve the 2nd interim with a positive certification was moved and seconded and passed by voice vote.
Board discussion focused on understanding the drivers of the projections and on the district's deficit-reduction plan to achieve $3.2 million in savings for the 202526#8211;26 fiscal year. The presentation noted that the 2nd interim figures do not include tentative or pending settlement costs that are not yet official.
