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District posts stronger-than-expected unaudited actuals, pledges $320,000 to parcel-tax set-aside
Summary
Business staff reported FY24-25 unaudited actuals showing a roughly 3% revenue uptick and similar decrease in expenditures; the board approved a positive certification and committed $320,000 to a parcel-tax set-aside and $50,000 to deferred maintenance/capital.
District finance staff presented the unaudited actuals for fiscal 202425, reporting stronger-than-expected results and recommending a positive certification to the county office. "June's actuals came in stronger than anticipated with approximately a 3% or $238,000 increase in revenue and almost a 3% or $300,000 decrease in expenditures," the business staff member told the board.
The presentation attributed revenue gains to higher property taxes ($92,000), market/interest adjustments ($62,000), increased kids-and-co fees and special-education apportionments, and noted a 27% increase in ELOP funds from about $50,000 to $70,000. On expenditures, lower substitute usage and reduced STRS on-behalf entries contributed to the swing. Staff said the district closed the year with an estimated 18.27% reserve, up from adopted-budget projections.
The board approved committing $320,000 to the parcel-tax set-aside for future years and recommended $50,000 for deferred maintenance and capital projects as bond funds begin to run down. An auditor fieldwork schedule was announced, with an auditor opinion expected by Dec. 15 and a presentation of audited results planned for January.
