The San Ramon Valley Unified School District Board of Education is set to discuss an early unaudited financial report of the district's finances over the previous fiscal year at its regular meeting Tuesday.
The 2022-23 unaudited actuals report is up for review by the board ahead of a Sept. 15 deadline to submit it to the Contra Costa County Office of Education and the state's Education Department.
The report lays out general fund revenues for the current year from Local Control Funding Formula (LCFF), federal, and other state and local revenues over the previous fiscal year, as well as from one-time funding sources -- including those for costs incurred by the COVID-19 pandemic, funds aimed at supporting arts and music programs.
In addition to accounting for revenues, expenditures and remaining funds available, the unaudited report provides numbers on budgeted and actual expenditures.
Overall, the district's general fund has fared well in the past year according to the report, resulting in a $20.1 million surplus across unrestricted and restricted funds, with $5.1 million in the former category and $15.1 million in the latter.
The increase in unrestricted funding is the result of approximately $4.5 million more in revenue than anticipated in the estimated actuals for last year, with actual expenditures for the year coming out to be $5.3 million lower than anticipated in the budgeting process.
Increased revenues were also the explanation for the increase in restricted general funds, as well as carryover in funds from the previous year.
In total, the $20.2 million surplus in the general fund is approximately $35.7 million more than was anticipated in last year's estimated actuals.
The SRVUSD board is set for their next regular meeting at 6 p.m. on Tuesday (Sept. 12). The agenda is available here.