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Board reviews unaudited 2023–24 finances, debates committing parcel-tax dollars to reserve
Summary
District staff reported improved 2023–24 unaudited actuals (reserve ~13.6%), described parcel-tax (Measure M) revenue uses and carryover, and trustees moved to commit part of Measure M to a long-term reserve, amending the commitment to $120,000 while preserving a ~13.1% reserve floor.
District finance staff presented the unaudited actuals for 2023–24 and told trustees the district ended the year with an improved fund balance and a reserve of roughly 13.6 percent. The presenter cited higher revenue (about $780,000 versus the prior year, primarily due to the newly implemented parcel tax) and increased expenditures; after adjustments the district's carryover fell from about $895,000 to approximately $600,000.
Trustees then debated how much of Measure M parcel‑tax revenues to commit to a standing reserve. Staff described current uses of Measure M (technology, grounds, health and safety, paraeducators, music and PE, intervention support) and presented scenarios showing that committing $87,000 annually would help bridge future gaps; trustees ultimately moved, amended and approved a measure to increase the committed amount to $120,000 provided the 2024–25 reserve does not fall below about 13.1 percent. The chair directed staff to rerun the reports and update filings to reflect the amendment.
