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Escondido Union trustees accept unaudited 2024–25 figures showing $5.6M increase in unrestricted revenue
Summary
Fiscal Director Michelle Cagle presented the district's unaudited actuals showing a $5,600,000 increase in unrestricted revenue, a $6,400,000 decrease in expenses, and moved about $1,100,000 from unrestricted to restricted funds; the board voted to accept the report 5–0.
The Escondido Union School District Board of Trustees accepted the district's unaudited actuals for the 2024–25 fiscal year after a presentation from Fiscal Director Michelle Cagle.
"We saw an overall increase of unrestricted revenue in the amount of $5,600,000," Cagle said, detailing that the increase related to updated P2 ADA numbers, final transportation entitlement amounts and higher interest and fair-market gains. She also reported an overall decrease in expenses of $6,400,000 and said the district was able to move roughly $1,100,000 from unrestricted to restricted funds during the close process.
Cagle said the district ended the year with a fund balance about $12,000,000 higher than projected at adoption and cautioned that one-time state funds are helping balance near-term gaps. She noted preliminary enrollment projections that could show a total decline of about 270 students from the prior year (230 from 24–25 plus an additional 40), and said the district will present updated ADA projections and a first interim in December. After board discussion about the risks of relying on one-time funds, the board moved to accept the unaudited actuals; the motion passed 5–0.
