District moves $11M to swimming‑pool project; CBO says earlier reserve earmark unavailable

The district’s business office told trustees May 12 that the general fund transferred $11 million this fiscal year to fund construction of the high‑school swimming pool, and that the board will budget for related project costs in FY25‑26 and FY26‑27. The CBO said the district must budget the full contract payments in the general fund because state matching funds are not expected to be received in time to pay vendors.

Staff also described a deficit in a previously anticipated funding source. A reserve in Fund 4041 tied to the Aliso property — which earlier leadership had identified as available to help finance the pool — is now unavailable after the district discovered irregularities in the property account. "Subsequent events we learned that there are some irregularities on the part of the lesser of the Aliso property... we cannot use that $4,600,000 reserve for the swimming pool," the CBO said. As a result, the district reported it has covered the majority of pool payments from general‑fund reserves and continues to seek replacement funding (state matching funds, other reserves or future budget adjustments) to restore the district’s reserve position.

The CBO estimated the pool contract and contingencies total roughly $23.6M–$24.0M; state matching funds of about $6–7M are expected later (estimated two to three years out), but timing is uncertain. The business office said the district retains a financial cushion and a AAA rating but acknowledged the pool financing is a timing and cash‑management issue that will require board oversight as change orders and contingency needs emerge.