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Finance director reports $12.5 million revenue increase, projects 25% ending fund balance
Summary
Finance director Yazmin Karabinas told the board that revenues had increased by $12.5 million—driven by reassigned positions, interest and fund reallocations—leading to a projected 25% ending fund balance and roughly $900,000 in interest income.
Finance director Yazmin Karabinas presented the district's financial outlook, reporting an unexpected $12.5 million increase in revenues and projecting an ending fund balance near 25% for the fiscal year.
"We are currently projecting a 25% ending fund balance due to revenues increasing by $12.5 million," Karabinas said. She attributed the increase in part to reassigning positions originally budgeted in the general fund to grant funds, higher-than-expected interest (approximately $900,000 projected from interest alone), and moving a $600,000 contingency back into the general fund. Karabinas also reviewed the projected bond fund and construction excise tax fund positions.
Board members asked clarifying questions about assumptions used for enrollment-driven revenue projections and the sustainability of staffing funded through grants. Karabinas noted some savings were from unfilled planned positions and emphasized ongoing monitoring as budgets and grants are finalized.
The financial presentation was informational; no budget adoption occurred at the meeting. The district will bring updates as grant assignments and staffing decisions are finalized.
