At the December 2021 Board Meeting, the Board of Trustees approved the First Interim Report. You can view the full Board Highlights here: https://www.smore.com/1wq0k-usd-board-meeting-highlights
The First Interim Report is a status of the District’s actual financial picture through October 31, 2021 and updated projections for the remainder of the year as of June 30, 2021:
- Total General Fund Revenue (Local Control Funding Formula, Federal, State and local) $66,725,051
- Total Expenditures Expenditures (Salaries, Benefits, Supplies, Services, Utilities, and Equipment) $73,645,213
- To cover the current year expenditures and to maintain the 3% state required reserve, the District must rely on additional revenue resources such as Lease revenue from our 7 closed schools sites (Current year $4,745,632) and in addition to our USD Extended Care Program ($1,000,000)
USD is not alone in facing fiscal challenges based on the state funding model and statewide declining enrollment. To mitigate the low per pupil funding, USD relies on various local resources such as, but not limited to, parcel tax, lease revenue, school field/classroom rentals outside of the school day, local grants/donations and USD Extended Care Program. In order to provide an exemplary program for our students USD and school district as a whole we must continue to plan accordingly.
The Board approved the First Interim Report with a positive certification meaning the District can meet its financial obligation for the current fiscal year and the next two fiscal years (2021-24) maintaining a minimum of a 3% reserve for uncertainties.
A reflection of the First Interim is presented in the Budget Information At a Glance infographic resource. The Budget at a Glance resource is a helpful tool to understand the fiscal condition of the district. We hope this resource is helpful as we work together to support our students, staff and District as a whole.
