School Board Receives Second Interim Budget Report; Financial Obligations Met Through 2026

At the March 12, 2024, Culver City Unified Board meeting, Superintendent Lucas presented the 2023-2024 Second Interim Report, providing an update of the District’s budget through Jan 2024.

The state requires that districts present their budgets three times throughout the fiscal year. This was the second of three checkpoints for CCUSD.

In comparison to the last budget presentation, the report showed roughly the same overall status on deficits. There were moderate increases on the revenue side were reported from the Local Control Funding Formula, federal funds, and local funds generated by PTAs, and Booster Clubs, with a slight decrease in state revenue reported. In addition, reductions in multiple expenditure areas were reported.

The Board approved the 2023-2024 Second Interim Report, certifying that the District will be able to meet its financial obligations for the remainder of the fiscal year and two subsequent fiscal years. This is due to the district maintaining the state-mandated reserve of 3 percent, which is a result of the Board’s adoption of the Fiscal Stabilization Plan on January 23, 2024.

The interim review of the multiyear projection was sent to the Los Angeles County Office of Education with a positive certification, a marked improvement since the last report.

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