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Piedmont board certifies positive 1st interim budget after CBO reports reserve and enrollment sensitivity
Summary
The board unanimously approved a positive certification of the district's 2024–25 1st interim financial report. CBO Ruth Alhedoyan said revenues rose to $53.45M and the district expects to meet the 3% reserve this year and the next two; staff cautioned enrollment changes could require 71 additional students to hold funding levels.
The Piedmont Unified School District board voted unanimously Wednesday to approve a positive certification of the district's 2024–25 1st interim financial report.
Chief Business Officer Ruth Alhedoyan told the board the district "expects to meet all financial obligations including the 3% reserve for this year and the next 2" and presented updated revenue and expenditure figures. Alhedoyan said the district's revenue projection rose from the adopted budget of $51.9 million to $53.45 million, noting local support (including Piedmont Education Foundation contributions) and unexpected student counts as drivers.
Alhedoyan outlined fund-balance projections, reporting an anticipated ending fund balance around $3.7 million, including a required 3% reserve and roughly $1 million in unrestricted reserve. She reminded trustees that key assumptions — LCFF COLA, enrollment, and negotiated salary increases — drive multiyear projections and that changes in any of those assumptions could materially change reserve projections.
Trustees pressed staff on enrollment sensitivity. Dr. Hahn and staff clarified the district needs approximately 71 students (grades 2–9, not TK/K) to hold next year's funding level; each 0.5 percent change in LCFF COLA translates to roughly $135,000 for the district. Following questions, Trustee Cori Smeagol moved, and Trustee Hillary Cooper seconded, the motion to approve the positive certification. The board approved the motion 5–0.
Next steps include submission of the certified 1st interim to the county office and a board budget workshop in February to examine multiyear scenarios further.
