By Peter Day
LVUSD Social Media
The school district closed the book on the 2024-25 fiscal year when Assistant Superintendent of Business Olga Fisher presented the 2024-25 Unaudited Actuals during the September 11th meeting of the district’s Board of Trustees.
The Lucerne Valley USD formally filed an annual statement of receipts and expenditures with the county on September 15th, as required by education code.
“This report will give us a comprehensive view of our financial overview of our district's revenues, expenditures, and where we are in our fund,” Ms. Fisher said during her presentation. “Here we are at the September checkpoint, and I’m going to present on closing the last fiscal year and where we are.”
The school district ended the 2024-25 school year with Average Daily Attendance of 1,091 students, which is the basis for funding. The district has 217 English Learners.
The revenues totaled $28.7 million with the main source coming from the Local Control Funding Formula (LCFF) with $17.2 million. Certificated employees — which is comprised mostly of teachers — again accounted for the largest recipients of the $28.6 million in total expenditures receiving $8.7 million. The district spent $6.6 million on employee benefits, $4.3 million on classified employees, $3.2 million on services and operations, $3.2 on capital outlay, and $1.3 million on books and supplies.
The beginning balance was $8.6 million and the ending balance was $8.2 million.
The budget includes 8% in reserve, which is “well above the state-mandated minimum of 3%,” according to Ms. Fisher. However, she adds that “again we must remain prudent in our spending to ensure that we are able to continue our momentum toward academic excellence and innovation.”
Ms. Fisher thanked her assistant, Lori Herriman, and county advisor, Tom.
Next, according to the district’s financial timeline, Ms. Fisher will present the 1st Interim Report for the 2025-26 school year finances in December. In January of 2026, the district will take a look at the Governor’s Budget Proposal and what it means for LVUSD finances.
Next March, Ms. Fisher will give her the 2nd Interim Financial Report for 2025-26. In May the district’s finance department will provide updated state funding based on revised state revenues for the district’s May Revise. In June, the school board will consider the approval of the LCAP/Adopted Budget 2026-27.
“You'll see me again in December for our first interim and again in March for our second interim and again in June, when we adopt our LCAP and our budget for 26-27 year,” she said.