Review Agenda Item
Meeting Date: 3/4/2025 - 7:00 PM
Category: Other Action Items
Type: Info/Action
Subject: (Item OAI-2) Second Interim Financial Report (Mrs. Juarez)
:
Enclosure
File Attachment:
2024-25 Second Interim State Report - 20250304.ada.pdf
2024-25 Second Interim County Assumptions - 20250304.ada.pdf
2024-25 Second Interim Executive Summary Final 20250304.ada.pdf
2024-25 Second Interim PPT Presentation 20250304.ada.pdf
Summary: Attached is the 2024-25 Second Interim Financial Report, reflecting operations through January 31, 2025. This report is being presented for the approval and certification of the Lodi Unified School District Board of Education; it will be forwarded to the San Joaquin County Office of Education. The report certifies that the District will be able to meet the financial obligations for the current year and two subsequent fiscal years. In addition to the General Fund (Fund 01), the Interim Report includes the Charter School Special Reserve fund (Joe Serna, Jr. Charter Fund 09) as required by Education Code 47604.3(a). Based on our review, the funds reflect a projected positive ending balance at the end of the current fiscal year. All other district funds have sufficient resources to pay for current and upcoming obligations for the next two subsequent years. In developing the multi-year projections for the report, a number of assumptions were made based on the general financial stability of the District. They include projected adjustments in LCFF income rates based on information from School Services of California and San Joaquin County Office of Education, changes in student enrollments, cost adjustments associated with staffing to the changing student populations and Board approved adjustments including adjustments related to the latest Board approved LCAP.
Funding:
Recommendation: Staff recommends that the Board of Education approve the 2024-25 Second Interim Financial Report.
Approvals:
Recommended By:
Signed By:
Vikeshni Diyal - Director of Budget
Signed By:
April Juarez - Executive Director of Fiscal Services
Signed By:
Neil Young - Superintendent