Santee Unified reports near-projected 2023-24 results; reserves projected to decline by 2026-27

The Santee School District Board of Education reviewed the district's 2023-24 Unaudited Actuals on Sept. 17, with Assistant Superintendent of Business Services Dr. Marcia Hamilton telling the Board the district's accounting was close to the prior assumptions used to build the adopted budget. "The General Fund and the Adopted Budget is within two tenths or a quarter of a point from where we anticipated our budget to be in June," Hamilton said.

Hamilton outlined key fund balances and projections. The Child Development Fund (Fund 12) began with $295,036, an increase of $109,789 from the adopted budget; Cafeteria Fund 13 showed an ending balance of $3.6 million; Deferred Maintenance (Fund 14) began the year at $568,428 with a projected $318,000 remaining after about $800,000 in planned projects. Capital Facilities (Fund 25) ended at $4.7 million (about $2 million in developer fees and $2.7 million in land sale proceeds), and Special Reserve (Fund 40) held $8.4 million with set-asides including $70,000 for solar and $5.3 million for technology reserves.

District multi-year projections based on the Unaudited Actuals estimate reserves of 23.11% for 2024-25, 16.74% for 2025-26 and 8.60% for 2026-27. Hamilton said next steps include convening the Budget Advisory Committee in October, preparing the First Interim report in December and monitoring the Governor's proposed budget in January.

The Board approved the Unaudited Actuals report by voice vote (4-0).