The details
Wes Scott, chief financial and operations officer, shared the report showing that the district’s total combined net position as of June 30 was around $44.81 million.
According to financial documents for the fiscal year, the general fund reported a total fund balance of around $29.55 million, an increase from the projected ending balance of around $25.88 million.
When planning for FY 2024-25, district staff projected a more than $5 million deficit. Amendments adopted by the board of trustees throughout the year helped reduce that deficit estimate to around $2.8 million. At the end of the year, the budget closed with a surplus of around $1.1 million.
Most of the 2022 bonds were issued in FY 2024-25, and the debt service fund reflects that the district scheduled principal payments of $23.5 million during the year, $12.89 million of which was for the 2024 bond issuance.
During debt repayment, the district paid off over $4 million in principal above scheduled payments, which is an estimated $3.8 million in interest savings.
Additional FY 2024-25 budget information can be found here.
