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2025-26 Unaudited Actuals Video Presentation

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The following presentation was given at the 9/17/26 Board Meeting by Anthony Hernandez, Chief Business Official for Galt Joint Union High School District (10 mins).

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Good evening president and members of the board tonight I will present Galt joint Union High School District's un audited actuals for the fiscal year ending June 30th 2026 un audited actuals represent the district's final year accounting before the independent audit this presentation focuses on the district's operating results the major differences from estimated actuals and the portion of the ending balance that is actually available for unrestricted operations The District closed the year better than projected but the year-end numbers also confirm that continued fiscal correction remains necessary the central Financial message is straightforward the district continued to spend more than it received general fund Revenue your total 35.69 million while general fund expenditures totaled 37.51 million after other financing activity the general fund balance decreased by approximately 1 .79 million this result was better than the district projected at estimated actuals and recent Staffing and operating reductions helped reduce the draw on reserves however a smaller deficit remains a deficit continuing expenditures still exceed recurring Revenue that imbalance cannot continue indefinitely because reserves provide only temporary support during 2026 to 27 the district must continue aligning ongoing Staffing Pro programs and operating commitments with the revenue available to support them this is the primary fiscal issue that will carry into first interim and the multi-year projection the district ended approximately 4.12 million above the ending balance projected at estimated actuals that is a favorable closing variance but it requires context Revenue finished about 618,000 below projection and financing sources also finished below projection those Productions were more than offset because expenditures came in approximately 4.95 million below projection several factors produced the expenditure variance restricted program funds carried forward because the related activities were not completed by June 30th some contracts and projects were delayed vacancies Staffing reductions unused hourly budgets and lower operating costs also contributed the improved ending balance strengthens short-term liquidity and gives the district more time to respond however much of the variance reflects restricted funding or the timing of expenditures those dollars may already have a future purpose therefore the 4.12 million Improvement should not be treated as new ongoing spending capacity combined general fund Revenue finished approximately 618,000 below estimated actuals unrestricted Revenue was about 133,000 above of projection while restricted Revenue was approximately 751,000 below projection restricted Grant Revenue generally follows the related program activity when a grant-funded service purchase or project does not occur before 4 year end the related Revenue may also be deferred or carried forward this is why lower restricted revenue does not necessarily mean the district lost funding in many cases it means that the program activity moved into the next fiscal year the important conclusion from this slide is that additional Revenue did not produce the stronger closed lower expenditures were the principal reason the ending balance improved general fund expenditures finished approximately 4.9 5 million below the final projection services and operating costs represented a significant part of that difference because some contracts vendor work projects and program activities did not occur by year end books and supplies also finished below projection primarily within restricted programs salaries and benefits were lower because of vacancies recent Staffing reductions employee turnover unused hourly allocations and the benefit costs associated with those positions some of these reductions represent real ongoing savings and contributed to the district's improved position other reductions reflect timing delayed contracts unfinished projects and restricted carryover will return as expenditures in 2026 to 27 as we update the budget staff will separate ongoing savings from 1-time or delayed activity that distinction is necessary before the district makes any new continuing commitments the general fund ended the year with a total balance of approximately 11.17 million that total can appear substantial but most of it is not available for General operating purposes approximately 6.09 9 million is restricted for categorical programs and must remain with the programs that generated it the district must also maintain a proximately 1.13 million as it's reserved for economic uncertainty after the proposed assignments the current schedule shows about 125,000 as unassigned the proposed assignments will return for separate board confirmation this distinction is important because the total fund balance and the unrestricted amount available for new spending are not the same restricted carryover cannot be redirected to solve the unrestricted structural deficit the district must evaluate reserves by their legal purpose and protect the amount needed for fiscal stability the unrestricted general fund contributed approximately 4.11 million to restricted programs during 2025 to 26 special education required about 2.95 million and restricted maintenance required approximately 1.03 million other programs account for the remaining contribution these transfer support necessary District services but they also reduce the unrestricted resources available for other operating priorities lower program costs reduce the contribution required in the closing year yet the underlying obligations continue special education costs remain significant the district must also meet its maintenance commitment while absorbing increases in utilities insurance and other operating expenses at the same time 1-time funding is expiring annual savings or unspent budgets may help in a particular year but they cannot replace a recurring plan for funding these ongoing responsibility this condensed table shows the 2025 to 26 Financial activity across every District fund combined revenue totaled approximately 44.15 million while expenditures to totaled 45.86 million after transfers and other financing activity total fund balances decreased by approximately 1.71 million and ended at 31.45 million The General fund accounts for the largest share of annual operations and declined by about 1.79 million capital and Facilities funds held approximately 14.23 million at year end while the bond interest in Redemption fund held approximately 4.32 million the table provides a district-wide view but each balance remains subject to the purpose and restrictions of its individual fund across all district funds the ending balance was approximately 31.45 million which represents a decrease of about 1.71 million from the prior year this total includes the general fund along with school facilities Bond Capitol cafeteria and other restrictions Ed funds each fund has a separate legal purpose Bond and capital dollars cannot be used freely for salaries benefits or general operations cafeteria resources must support the Food Service program for that reason the combined balance across all funds should not be viewed as available operating cash the district must review each fund separately and use its resources only for authorized purposes recent reductions lowered Staffing and operating cost costs reduce the use of fund balance and improve liquidity entering 202627 those changes were important but they did not fully correct the structural deficit the district's next formal checkpoint is first interim staff will inquire incorporate the final restricted carryover budgets so that delayed program activity appears in the correct Year we will confirm position control and ensure that the budget reflects authorized Staffing vacancies and current salary and benefit costs we will update revenue and expenditure assumptions and revise the multi-year projection using the closing Information Administration must then determine whether additional corrective actions are necessary to keep ongoing commitments within ongoing resources the improved close gives the district time to make thoughtful decisions it does not remove the need for continued budget correction fiscal responsibility will require consistent monitoring accurate position control and clear recommendation as updated information becomes available that concludes the 202526 UN audited actuals presentation The District closed the year better than projected but expenditures still exceeded Revenue most of the ending balance is restricted or otherwise designated and significant ongoing obligations Remain the district's next step is to incorporate the closing results into first interim and continue addressing the structural deficit I will now turn the presentation back over to Mr Hernandez for any follow-up questions you may have

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