Mountain View Whisman School District
Agenda Item for Board Meeting of 3/20/2025
Agenda Category: ACTION AND DISCUSSION
Agenda Item Title: (Action) 2024-2025 Second Interim Budget Report
Estimated Time:
Person Responsible: Nadia Pongo, Director of Fiscal Services
Rebecca Westover, Ed.D., Chief Business Officer
Background:
Twice during the fiscal year, a school district is required to submit a financial report certifying the district's ability to meet its financial obligations for the current year and two subsequent years. The reports examine the district's attendance, spending patterns, fund balance, reserve for economic uncertainties, and multi-year projections. Staff will present the 2024-2025 Second Interim Budget Report, which reflects the district's financial position as of January 31, 2025.
The Second Interim reports changes to the District's 2024-2025 budget adopted in June 2024. The projected General Fund Unrestricted ending balance for 2024-2025 is estimated at $46,518,452 with total revenues at $120,994,733 and total expenditures at $124,521,068. The District is planning on a net decrease of $3,526,335 with a reserve level of 37.36%.
Fiscal Implication:
General Fund 01 Combined Totals
Beginning Balance: $56,131,862
Total Revenues: $120,994,733
Total Expenditures: $124,521,068
Ending Balance: $52,605,527
Unrestricted Reserve Level: 37.36%
Recommended Action:
It is recommended the Board of Trustees approve the 2024-2025 Second Interim Budget Report, as presented.
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