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District presents 2nd Interim: reserves up slightly; staff recommends positive certification
Summary
Finance staff reported a 12.77% unrestricted general fund reserve at 2nd interim, modest improvement from earlier projections driven in part by special education placements, and recommended a positive certification for multi-year projections.
District finance staff presented the second interim (covering July 1–Jan 31) showing an unrestricted general fund reserve of about 12.77%, up from prior projections, largely because of adjustments to special education budget assumptions and some one-time increases in fund balance. Staff explained the projection changes that drove a $122,000 increase in combined fund balance since the first interim and described parcel tax commitments for future years.
Finance staff (Speaker 4) said, “The unrestricted general fund, shows the fund balance shows a reserve of 12.77%, which is an increase of 0.61% over the 1st interim and 1.09% from the adopted budget.”
Trustees asked about out-year sensitivity if parcel-tax revenue or federal funding were reduced; staff noted the district would need to adjust commitments if restricted funds expire or if a large special-education outplacement occurs. The staff recommended a positive certification and the board voted to accept the interim reporting and proceed to the final budget steps.
