Board receives unaudited 2024–25 financials; staff reports $30.6 million in committed reserves including potential office purchase

Riverside Unified School District staff presented the unaudited actuals for fiscal 2024–25 and recommended adoption of the state constitutional spending limit (the Gann limit) required for budget compliance.

What staff reported: the district’s unaudited results showed a change in the ending general fund balance driven by revenue and expenditure variances. Staff reported approximately $1.3 million less revenue than initially budgeted but about $4.5 million less in expenditures, yielding a net $3.2 million positive change to the ending fund balance compared with the prior estimated figure. Staff also reported a $5.4 million adjustment tied to fair-value market adjustments and other timing items.

Reserves and facilities funding: staff said the district’s available committed fund balance now includes approximately $30.6 million that had been adjusted to reflect carryovers and specific commitments tied to facilities planning and potential district office relocation. Staff emphasized that figure was a planning maximum, not an amount that must be spent immediately, and that any large expenditure would return to the board for approval.

Gann limit and next steps: trustees voted to adopt the Gann-limit resolution as required by law and accepted the unaudited actuals for 2024–25. Staff said the district will present the audited financial statements later in the year and will update the board when audits are complete.

Ending: trustees thanked accounting staff and asked for continued reports as audits are finalized. The board adopted the required Gann limit resolution and received the unaudited numbers unanimously.