Galt USD reports rising enrollment, improved fund balance; federal funds to drop modestly

District staff presented the 2024–25 unaudited actuals and related financial reports, telling trustees that enrollment and average daily attendance (ADA) have increased and that the district’s fund balance is higher than the June adopted budget projections.

Staff reported the district is up 22 students from June 2025 and said certified enrollment and ADA have trended upward; a September enrollment snapshot listed 3,476 students. The presenter said the district’s ending fund balance for 2024–25 was about 15.75 percent and projected 12.89 percent for 2025–26 under current assumptions. Staff emphasized the district is intentionally conservative in revenue projections and will update first interim when fall certification is finalized.

On retiree liabilities, staff said the district’s OPEB actuarial rollover shows an OPEB liability of $6,100,000 for the fiscal year ending June 30, 2025. The district also opened an OPEB trust in May and deposited $100,000 into that trust.

Staff warned that federal Title allocations are being reduced by an estimated 7–10 percent and that the district anticipates a $70,000–$80,000 reduction in federal revenue next year. Board members asked clarifying questions about the sources of COLA (noted as state LCFF COLA) and how enrollment changes would affect projections.

The board approved the unaudited actuals, the actuarial report (GASB 74/75 rollover), the GAN limit resolution, and related consent items unanimously during the meeting.