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Board approves 2nd interim budget and multi‑year projections showing a modest 2024–25 surplus
Summary
Staff presented a 2nd interim budget and multi‑year projections showing a projected $200,000 addition to ending fund balance for 2024–25 and tight surpluses/near‑break‑even in subsequent years; the board approved the projections by roll call.
District finance staff presented the 2024–25 2nd interim budget and multi‑year projections at the March 11 board meeting and recommended board approval. Staff described updated revenue and expenditure assumptions, grant awards added since 1st interim and the district’s deficit‑reduction plan (which reserves 3% of year‑over‑year increases for reserves).
Staff said the district expects modest revenue increases and identified several restricted grants added since the last interim—including Golden State Pathways funds, a Pirate Academic Center grant and a capacity grant for mental health and wellness. On net, staff said the district now projects adding about $200,000 to its ending fund balance in 2024–25 and showed tighter projections for 2025–26 and 2026–27. "If all goes as planned, we should add 200,000 to our ending fund balance," staff said. The board moved to approve the 2nd interim budget and the multi‑year projections and passed the motion by roll call.
