At the close of each fiscal year, the District conducts a comprehensive financial review that includes closing its books, analyzing actual revenues and expenditures, and determining final ending fund balances. This process results in the preparation of the Unaudited Actuals Financial Report, which reflects the District’s final financial position for the 2024-2025 fiscal year.

The Unaudited Actuals provide a comparison between the District’s estimated and actual financial activity and serve as the final update following the series of interim financial reports presented throughout the year.

In accordance with Education Code Section 42100, school districts are required to prepare and submit an annual statement of all receipts and expenditures for the preceding fiscal year, commonly referred to as the Unaudited Actuals, on forms prescribed by the Superintendent of Public Instruction. This statement must be approved by the Governing Board and submitted to the County Superintendent of Schools by September 15.

In addition, pursuant to Education Code Section 41020, the District’s independent external auditor will review the Unaudited Actuals Report as part of the annual audit process.

Approval of this item ensures compliance with state requirements and provides an accurate, final accounting of the District’s financial activity for the 2024-2025 fiscal year.

Tonight’s presentation will provide a detailed overview of the 2024-2025 Unaudited Actuals Financial Report, including key financial highlights, variances from the budget, and the District’s overall fiscal position.