San Ramon Valley Unified School District Report

Fiscal Review January 16, 2026 San Ramon Valley Unified School District Michael H. Fine Chief Executive Officer January 16, 2026 CJ Cammack, Superintendent San Ramon Valley Unified School District 699 Old Orchard Drive Danville, CA 94526 Dear Superintendent Cammack: In April 2025, the San Ramon Valley Unified School District and the Fiscal Crisis and Management Assistance Team (FCMAT) entered into an agreement for FCMAT to conduct a review of the district’s mul- tiyear financial projection for the current and two subsequent fiscal years. The final amended agreement stated that FCMAT would perform the following: 1. Review the district’s 2025-26 adopted general fund budget and use it as a baseline to develop an independent multiyear financial projection (MYFP) for the current and two subsequent years; the MYFP will be a snapshot in time of the district’s financial status. 2. Make recommendations for expenditure reductions and/or revenue increases to help the district eliminate its structural budget deficit, if any. This report contains the study team’s findings and recommendations. FCMAT appreciates the opportunity to serve the San Ramon Valley Unified School District and extends thanks to all the staff for their assistance during fieldwork. Sincerely, Michael H. FIne Chief Executive Officer Michael H. Fine • Chief Executive Officer 1300 17th Street – City Centre, Bakersfield, CA 93301-4533 • Tel. 661-636-4611 • Fax 661-636-4647 www.fcmat.org Table of Contents Table of Contents About FCMAT ...................................................................................................ii Introduction ......................................................................................................iv Background ...............................................................................................................iv Study and Report Guidelines ................................................................................iv Study Team ................................................................................................................iv Executive Summary ........................................................................................v Findings and Recommendations.................................................................1 Multiyear Financial Projections ..............................................................................1 Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections .................................................................................................................4 Multiyear Financial Projection Assumptions ....................................................10 Multiyear Financial Projection Analysis ............................................................25 Reserves and Unrestricted General Fund Balance .......................................30 Other Funds, Revenue Increases and Expenditure Reductions ................32 Appendices ....................................................................................................39 Appendix A — District’s 2025-26 Adopted Budget Multiyear Financial Projection .................................................................................................................40 Appendix B — Study Agreement .......................................................................48 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District i About FCMAT About FCMAT Purpose and Services FCMAT was created by the California Legislature to help California’s transitional kindergarten through grade 14 (TK-14) local educational agencies (LEAs) avoid fiscal insolvency. Today, FCMAT helps LEAs iden- tify, prevent and resolve financial, management, program, data, and oversight challenges; provides pro- fessional learning; produces and provides software, checklists, manuals and other tools; and offers other related school business and data services. FCMAT may be asked to provide fiscal crisis or management assistance by a school district, charter school, community college, county superintendent of schools, the state superintendent of public instruction, or the Legislature. When FCMAT is asked for help with management assistance or a fiscal crisis, FCMAT management and staff work closely with the requesting LEA to meet their needs. Often this means conducting a formal study using a FCMAT study team that coordinates with the LEA for on-site fieldwork to evaluate specified operational areas and subsequently produces a written report with findings and recommendations for improvement. For more immediate needs in a specific area, FCMAT offers short-term technical assistance from a FCMAT staff member with the required expertise. To help meet the need for qualified chief business officials (CBOs) in LEAs, FCMAT offers four different CBO training and mentoring programs that consist of 11 or 12 diverse two-day training sessions over the course of a full year. For agencies with professional learning needs, FCMAT offers workshops on specific topics. Popular topics include associated student body operations, use of FCMAT’s Projection-Pro online financial forecasting software, use of FCMAT’s Local Control Funding Formula (LCFF) Calculator, and data reporting for the California Longitudinal Pupil Achievement Data System (CALPADS). FCMAT staff and management also frequently make presentations at various professional conferences. The California School Information Services (CSIS) service of FCMAT helps the California Department of Education (CDE) operate CALPADS; helps LEAs learn about CALPADS, resolve data issues and meet reporting requirements; and provides LEAs with training and leadership in data management. CSIS also developed and continues to host and improve the Standardized Account Code Structure (SACS) web-based financial reporting system for all California LEAs, and provides ed-data.org, which gives educators, policy- makers, the Legislature, parents and the public quick access to timely and comprehensive data about TK-12 education in California. Since it was formed, FCMAT has provided LEAs with the types of help described above on more than 2,000 occasions. FCMAT’s administrative agent is the Kern County Superintendent of Schools. FCMAT is led by Michael H. Fine, Chief Executive Officer, and is funded by appropriations in the state budget and modest fees to requesting agencies. Workshop schedules, manuals, presentation slide decks, Projection-Pro software, LCFF calculators, past reports, an online help desk, and many other resources are available for download or use at no charge on FCMAT’s website. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District ii About FCMAT History FCMAT was created by Assembly Bill (AB) 1200 (Chapter 1213, Statutes of 1991) and Education Code (EC) 42127.8. Assembly Bill 107 (Chapter 282, Statutes of 1997) added Education Code 49080, which charged FCMAT with responsibility for CSIS and its statewide data management work, and Assembly Bill 1115 (Chapter 78, Statutes of 1999) codified CSIS’ mission. Assembly Bill 1200 created a statewide plan for county offices of education and school districts to work together locally to improve fiscal procedures and accountability standards. Assembly Bill 2756 (Chapter 52, Statutes of 2004) gave FCMAT specific responsibilities for districts that have received emergency state loans. In January 2006, Senate Bill 430 (Chapter 357, Statutes of 2005) amended Education Code 42127.8, and Assembly Bill 1366 (Chapter 360, Statutes of 2005) amended Education Codes 42127.8 and 84041. These new laws expanded FCMAT’s services to include charter schools and community colleges, respectively. Assembly Bill 1840 (Chapter 426, Statutes of 2018) changed how fiscally insolvent districts are administered once an emergency appropriation has been made, shifting oversight responsibilities from the state to the local county superintendent to be more consistent with the principles of local control, and giving FCMAT new responsibilities associated with the process. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District iii Introduction Introduction Background The San Ramon Valley Unified School District is located in Contra Costa County and serves the communi- ties of Alamo, Danville, Blackhawk, Diablo and San Ramon. Governed by a five-member board, the district serves close to 28,000 students from transitional kindergarten through grade 12. The district operates two state preschool programs, 22 elementary schools, eight middle schools, four high schools and one alter- native education/continuation school. As of the 2024-25 second principal apportionment (the most recent data available), 11.4% of the district’s students were identified as English learners, foster youth, or eligible for free or reduced-price meals. Study and Report Guidelines FCMAT visited the district on August 26-28, 2025 to conduct interviews with district staff, collect data and review documents. Following fieldwork, FCMAT continued to review and analyze documents. This report is the result of those activities. FCMAT’s reports focus on systems and processes that may need improvement. Those that may be func- tioning well are generally not commented on in FCMAT’s reports. In writing its reports, FCMAT uses the Associated Press Stylebook and its own short internal style guide, which emphasize plain language, capital- ize relatively few terms, and strive for conciseness, clarity and simplicity. Study Team The study team was composed of the following members: Erin Lillibridge, CFE Jennifer Noga, CFE FCMAT Chief Analyst FCMAT Intervention Specialist Leonel Martínez FCMAT Technical Writer All team members reviewed the draft report to confirm accuracy and achieve consensus on the final recommendations. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District iv Executive Summary Executive Summary Declining enrollment, rising costs, and the expiration of COVID-19 relief funds have created structural defi- cits for many LEAs as expenditures outpace sustainable revenues. While the expansion of TK and partial average daily attendance (ADA) recovery has helped offset some revenue losses, rising costs — including insurance premiums, utilities, and special assessments related to childhood sexual assault claims — con- tinue to strain budgets. Uncertainty in federal policy and more modest cost-of-living adjustments (COLAs) in the range of 2% to 3% add further pressure on unrestricted general funds. To address a structural deficit in its unrestricted general fund, the district developed a $26 million fiscal stabilization plan for 2025-26, which included major staffing reductions and three furlough days for all employees. However, mediation with the certificated bargaining unit and one-time state funds led the district to modify the plan, restoring positions and reducing furlough days for 2025-26. Only one furlough day remains for certificated staff in 2025-26, which will increase to three days in 2026-27 and 2027-28. The district adopted a Supplemental Early Retirement Plan (SERP) on November 19, 2025, projected to save a net $16.3 million over five years. These savings are not reflected in FCMAT’s multiyear financial projec- tion (MYFP), which assumes no measures that could not be validated or occurred after the revised 45-day budget. FCMAT based its 2025-26 projection largely on 2024-25 unaudited actuals, with adjustments for step-and- column costs, layoffs, staffing changes and the elimination of known one-time costs. The projection did not incorporate any year-to-date actuals for 2025-26 and was developed without a fully reconciled position control report tied to adopted budget assumptions. Position control ensures staffing and salary costs align with budget and payroll activity; without reconciliation, program-level variances increase the risk of inaccu- rate projections. The district’s 2025-26 unrestricted general fund adopted budget shows compliance with the state reserve requirement in all years, despite minor operating deficits in 2025-26 and 2026-27. However, FCMAT’s projections differ from the district’s, primarily because of differences in estimated health-and-welfare cost increases and assumptions about certificated staffing levels. The district assumed approximately $2.5 million in annual savings from reducing about 27 certificated FTEs in both 2026-27 and 2027-28 due to declining enrollment, along with an 8% annual increase in health- and-welfare costs. FCMAT did not include these assumed staffing reductions, consistent with its practice of excluding future personnel cuts that require board approval until those actions are formally adopted. In addition, because of the timing of its review, FCMAT used the district’s 2026 health care rates to estimate cost increases for 2025-26 and 2026-27, resulting in projections that were 2.7% and 5.1% higher than the district’s assumptions, respectively. As shown in Table 1, FCMAT projects a modest deficit of $65,764 in 2025-26, followed by significant deficit spending of $13.0 million in 2026-27 and $17.9 million in 2027-28. By 2026-27, the district’s ending unre- stricted general fund balance is projected to fall to negative $11.6 million, and by 2027-28, total reserves — including the Special Reserve Fund for Other than Capital Outlay Projects (Fund 17) — are projected to fall below the 3% minimum, reaching negative 2.55%. The district should monitor its budget closely and update projections at the first interim, incorporating actu- als through October 31, 2025, and adjustments for enrollment and staffing. It should also revise its fiscal stabilization plan to address any structural deficits identified, maintain a positive fund balance, and restore reserves to comply with the board’s 7% policy, including the state minimum and a strategic reserve for flex- ibility and stability. LEAs that spend more than they receive deplete cash resources; insolvency has severe consequences, including county and state intervention and a loss of local governance. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District v Executive Summary Table 1. FCMAT Multiyear Financial Projection Summary, Unrestricted General Fund, 2025-26 — 2027-28 Adjusted Base Year Year 1 Year 2 Description 2025-26 2026-27 2027-28 Revenues and Other Sources $287,475,689 $290,748,507 $292,123,541 Expenditures and Other Uses $287,541,452 $303,697,934 $310,024,966 Net Increase/Decrease in Fund Balance ($65,764) ($12,949,427) ($17,901,425) Beginning Fund Balance, July 1 $1,456,387 $1,390,623 ($11,558,804) Ending Fund Balance, June 30 $1,390,623 ($11,558,804) ($29,460,229) Components of Ending Fund Balance Nonspendable $2,020,440 $2,020,440 $2,020,440 Reserve for Economic Uncertainties $0 $0 $0 Unassigned/Unappropriated ($629,817) ($13,579,244) ($31,480,669) Special Reserve Fund - Noncapital Outlay (Fund 17) $18,489,793 $18,889,793 $19,289,793 Total Available Reserves – by Amount $17,859,976 $5,310,549 ($12,190,876) Total Available Reserves – by Percent of Total Combined General Fund Expenditures and Uses 3.76% 1.13% -2.55% Source: FCMAT’s MYFP. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District vi Findings and Recommendations Multiyear Financial Projections Findings and Recommendations Multiyear Financial Projections Assembly Bill (AB) 1200 and AB 2756 require MYFPs as part of budget adoption and interim reporting. AB 2756, signed into law in June 2004, made substantive changes to the accountability and oversight process for monitoring the fiscal health of school districts and county offices of education. These changes include granting greater authority and responsibility for the superintendent of public instruction (SPI) and county superintendents of schools to intervene during fiscal crises and request assistance from FCMAT. At any time during the fiscal year, if a school district cannot meet its financial obligations for the current or two subsequent fiscal years, or if it receives a qualified or negative interim report certification, the county superintendent must notify the district’s board and the SPI. Under EC 42127.6, the county superintendent may help develop a multiyear financial recovery plan that will enable the district to meet its future obliga- tions. The MYFP is the primary tool used to develop this plan and restore a district’s required reserve for economic uncertainties. MYFPs offer a structured approach to evaluating the long-term impact of current decisions. However, they are inherently limited by assumptions such as enrollment trends, COLAs, and fluctuations in federal, state, and local funding. As such, projections should be treated as point-in-time estimates and updated regularly, at each financial reporting period, when economic forecasts change, and before major decisions such as salary increases or other significant financial commitments. Preparing multiple MYFPs for different funding scenarios can help identify a range of possibilities. Regular and frequent budget monitoring is essential, particularly during fiscal uncertainty, when MYFPs become less reliable due to frequent changes in pro- jected federal and state revenues. California LEAs use various tools to prepare MYFPs. Given recent investments in one-time and ongoing restricted programs, projections by resource are essential to ensure accurate planning and compliance. This approach accounts for both one-time and restricted funds available for expenditure over multiple years, helps ensure that restricted funds are spent before unrestricted, and provides for accurate general fund balance projections. FCMAT’s free Projection-Pro software, a web-based multiyear and cash flow fore- casting tool, supports this process for school districts, charter schools, and county offices. The district used FCMAT’s Projection-Pro software to prepare its MYFP by resource. One-time funding, such as federal and state COVID-19 relief, can temporarily mask ongoing operational deficits, making prudent financial planning critical for all LEAs. MYFPs help districts align resources with goals, programs and Local Control and Accountability Plans (LCAPs) while monitoring trends that signal fiscal risk. The primary objective is to maintain a balanced budget to ensure fiscal solvency and avoid loss of local governance. Maintaining fiscal solvency while maximizing services is a continuing challenge for boards, which have a fiduciary responsibility to ensure their district’s financial health. Each district faces unique risks based on reserve levels, enrollment trends, employee compensation, revenue volatility, and other local factors, but those that plan carefully can meet program goals while sustaining fiscal stability. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 1 Findings and Recommendations Multiyear Financial Projections Adjustment Analysis When developing the MYFP, FCMAT reviewed the district’s revenue and expenditure trends for the prior three years (2022-23 through 2024-25) to understand its financial history. The adjusted 2025-26 adopted budget served as the base year for projections, which applied industry-standard criteria from the Department of Finance (DOF), the CDE and School Services of California Inc. (SSC). Establishing accurate revenue and expenditure estimates for 2025-26 was critical to building reliable pro- jections for subsequent years. Table 2 shows the differences between the district’s adopted budget and FCMAT’s analysis. The district used 2024-25 estimated actuals to determine the beginning fund balance, nonspendable amounts, and restricted ending balance. FCMAT instead relied on the district’s 2024-25 unaudited actuals, completed in September 2025, for those amounts. The district’s estimated 2025-26 general fund beginning balance was $14.4 million lower than its actual 2025-26 beginning balance, with most of the variance in the restricted general fund. The district designated a portion of its Fund 17 balance for the reserve for economic uncertainties and assigned the remainder for declining enrollment protection. FCMAT included the entire Fund 17 balance toward meeting the reserve requirement. Differences in projected revenues and expenditures are detailed in the Multiyear Financial Projection Assumptions section of this report. Table 2. Multiyear Financial Projection Comparison Summary, Combined General Fund, 2025-26 Object District Adjustment FCMAT Description Code 2025-26 Budget to Base Year 2025-26 Budget A. Revenues LCFF Sources 8010-8099 $333,428,493 $2,299,332 $335,727,825 Federal Revenue 8100-8299 $7,268,460 $222,161 $7,490,621 Other State Revenues 8300-8599 $67,636,981 $16,801,735 $84,438,716 Other Local Revenues 8600-8799 $34,179,338 $2,591,952 $36,771,290 Other Financing Sources - Transfers In 8900-8929 $0 $0 $0 Total Revenue $442,513,272 $21,915,180 $464,428,452 B. Expenditures Certificated Salaries 1000-1999 $183,899,680 $4,572,934 $188,472,614 Classified Salaries 2000-2999 $71,800,505 ($2,036,554) $69,763,951 Employee Benefits 3000-3999 $132,672,018 $3,523,365 $136,195,383 Books and Supplies 4000-4999 $10,940,854 $813,277 $11,754,131 Services and Other Operating Expenditures 5000-5999 $46,061,369 $19,289,976 $65,351,345 Capital Outlay 6000-6999 $101,150 $687,125 $788,275 7100-7299 Other Outgo (excluding Transfers of Indirect Costs) 7400-7499 $704,146 $0 $704,146 Other Outgo - Transfers of Indirect Costs 7300-7399 $0 ($476,215) ($476,215) Other Financing Uses - Transfers Out 7600-7629 $2,367,808 $0 $2,367,808 Total Expenditures $448,547,530 $26,373,908 $474,921,438 C. Net Increase/Decrease in Fund Balance ($6,034,258) ($4,458,728) ($10,492,986) Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 2 Findings and Recommendations Multiyear Financial Projections Object District Adjustment FCMAT Description Code 2025-26 Budget to Base Year 2025-26 Budget D. Fund Balance Beginning Fund Balance, July 1 9791 $18,378,733 $14,359,210 $32,737,944 Audit Adjustments / Other Restatements 9793, 9795 $0 $0 $0 Adjusted Beginning Balance $18,378,733 $14,359,210 $32,737,944 Ending Fund Balance, June 30 $12,344,475 $9,990,483 $22,244,958 Components of Ending Fund Balance Nonspendable 9710-9719 $365,552 $1,654,888 $2,020,440 Restricted 9740 $11,477,080 $9,377,256 $20,854,335 Committed Stabilization Arrangements 9750 $0 $0 $0 Other Commitments 9760 $0 $0 $0 Assigned 9780 $501,844 ($501,844) $0 Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 $0 $0 $0 Unassigned/Unappropriated 9790 $0 ($629,817) ($629,817) Special Reserve Fund - Noncapital Outlay (Fund 17) 9780,9789 $13,456,427 $5,033,366 $18,489,793 Total Available Reserves – by Amount $13,456,427 $4,403,549 $17,859,976 Total Available Reserves – by Percent of Total Expenditures and Uses 3.00% -- 3.76% Sources: District's 2025-26 adopted budget, 2024-25 unaudited actuals, and FCMAT’s MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 3 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections LEAs develop accurate and timely projections to support budget development and resource planning. Enrollment, unduplicated pupil count (UPC)1, and ADA projections are essential components of any MYFP, as student demographics, counts, and attendance directly impact funding through the Local Control Funding Formula (LCFF), the primary revenue source for school districts. Accurate projections help identify changes that may significantly affect revenues and expenditures in both the current and future fiscal years. Failure to anticipate enrollment shifts and adjust staffing accordingly can jeopardize a district’s financial stability. Inaccurate or outdated projections often lead to staffing misalign- ments, inefficient resource allocation, or budget shortfalls. Preparing enrollment projections regularly and in sufficient detail is essential for monitoring class sizes and supporting long-term planning. Timely preparation allows for responsive adjustments to staffing levels and budget allocations as enrollment changes occur. These projections also guide decisions on instructional priorities, staffing ratios, grade-level configurations, and potential boundary adjustments. Enrollment, UPC, and ADA projections are inherently limited because they rely on assumptions rather than precise calculations. Influencing factors include housing developments, demographic shifts, birth-rate trends, interdistrict transfers, and unforeseen events such as the COVID-19 pandemic. Additional consider- ations include historical grade progression patterns and changes in educational programs. As such, projec- tions are best interpreted as reasonable forecasts or trend indicators, not exact predictions. FCMAT reviewed the district’s projection methodology and found it reasonable. Projections are developed by the executive director, business services, starting with a cohort-based analysis and incorporating adjust- ments for special education and historical trends. Updates occur at each reporting period and are sup- ported by consistent methodologies and tools, such as Projection-Pro, to ensure accuracy. The district also monitors and analyzes enrollment and ADA monthly, as well as at each reporting period for each school site. This approach provides a reliable foundation for planning and decision-making. In addition, FCMAT analyzed district data from 2014-15 through 2025-26 and used its Projection-Pro soft- ware to develop enrollment, UPC, and ADA projections for the base year and two subsequent years. These projections served as the basis for estimating LCFF and other state and federal revenues. Enrollment Cohort Survival Methodology The cohort survival method is commonly used by LEAs and is the approach implemented in FCMAT’s Projection-Pro software to project enrollment. This method groups students by grade level when they enter the system and tracks their progression over time, accounting for retention and grade-level entry or exit. It applies cohort survival rates, calculated as either a simple or weighted average, to estimate future grade- level enrollments. Cohort survival rates are based on historical enrollment data certified on Fall 1 census day in the California Longitudinal Pupil Achievement Data System (CALPADS), which occurs on the first Wednesday in October. 1 UPC refers to the number of students who are English learners, foster youth or eligible for free or reduced-price meals. Each student is counted only once, even if they meet more than one of these criteria. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 4 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections These rates represent the percentage increase or decrease in enrollment from one grade to the next in successive years. For example, if 1,000 students were enrolled in grade one in 2023-24 and 1,040 in grade two in 2024-25, the survival rate would be 104.0%, or a ratio of 1.04. Ratios are calculated for each grade-level pair across multiple years. To improve accuracy and reflect recent patterns, Projection-Pro uses a weighted average, which places greater emphasis on more recent data. The reliability of these projections depends on the consistency and quality of historical data, as each ratio reflects the cumulative effects of demographic changes, student mobility, and programmatic shifts that influence cohort size over time. Enrollment Projections and Methods FCMAT used the cohort survival method and applied a five-year weighted average to project enrollment, its generally recommended approach for improved accuracy. Projecting enrollment for TK and kindergarten is particularly challenging due to limited historical data on incoming four- and five-year olds. Common methods include estimating TK and kindergarten enrollment as a percentage of countywide live births from four and five years earlier or applying a historical aver- age of prior enrollment. While both approaches are effective, the historical average offers a simpler and comparatively reliable method. For this analysis, FCMAT used a five-year weighted average to project TK and kindergarten enrollment, incorporating adjustments for the phased implementation of the universal TK program. This program expands eligibility to four-year olds and is scheduled for full implementation in 2025-26. According to DataQuest, after modest enrollment growth between 2015-16 and 2017-18, the district expe- rienced an average annual decline of approximately 1.8%, resulting in a 12.0% total decrease from 32,504 students in 2017-18 to 28,615 in 2024-25. The district’s 2025-26 adopted budget projects an annual decline of approximately 750 students per year through 2027-28. FCMAT’s projections, as shown in Table 3, are slightly higher than the district’s estimates. For 2025-26, FCMAT used actual grade-level enrollment data provided by the district as of October 1, 2025. Table 3. Historical Data and FCMAT Enrollment Projections, 2020-21 – 2027-28 Actual Actual Actual Actual Actual Projected Projected Projected 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 Enrollment by Grade Grade TK 399 419 639 787 889 989 949 911 Grade K 1,692 1,677 1,624 1,549 1,506 1,479 1,419 1,362 Grade 1 1,859 1,787 1,832 1,741 1,630 1,583 1,567 1,504 Grade 2 1,852 2,026 1,792 1,872 1,786 1,672 1,619 1,603 Grade 3 2,025 1,911 2,080 1,858 1,918 1,822 1,715 1,660 Subtotal TK-3 7,827 7,820 7,967 7,807 7,729 7,545 7,269 7,040 Grade 4 2,208 2,134 2,001 2,124 1,908 1,951 1,866 1,756 Grade 5 2,312 2,220 2,181 2,043 2,173 1,960 1,998 1,911 Grade 6 2,339 2,379 2,273 2,242 2,085 2,233 2,009 2,048 Subtotal 4-6 6,859 6,733 6,455 6,409 6,166 6,144 5,873 5,715 Grade 7 2,433 2,326 2,365 2,310 2,261 2,117 2,258 2,032 Grade 8 2,563 2,450 2,378 2,405 2,335 2,275 2,141 2,284 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 5 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections Actual Actual Actual Actual Actual Projected Projected Projected 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 Subtotal 7-8 4,996 4,776 4,743 4,715 4,596 4,392 4,399 4,316 Grade 9 2,775 2,568 2,524 2,468 2,493 2,413 2,354 2,216 Grade 10 2,719 2,717 2,572 2,537 2,469 2,478 2,410 2,394 Grade 11 2,764 2,663 2,698 2,565 2,530 2,441 2,462 2,351 Grade 12 2,786 2,791 2,721 2,734 2,632 2,575 2,489 2,511 Subtotal 9-12 11,044 10,739 10,515 10,304 10,124 9,907 9,715 9,472 Enrollment Total and Change Total Enrollment 30,726 30,068 29,680 29,235 28,615 27,988 27,256 26,543 Change from Prior School Year -1,185 -658 -388 -445 -620 -627 -732 -713 Sources: DataQuest and FCMAT’s MYFP. Unduplicated Pupil Percentage The district’s unduplicated pupil percentage (UPP) is used to calculate LCFF supplemental and concen- tration grants. The UPP represents the percentage of students identified as English learners, foster youth, or eligible for free or reduced-price meals. Each student is counted only once, even if they meet multiple criteria. For LCFF purposes, the UPP is calculated as a three-year rolling average. According to the 2024-25 UPC data from the CDE, the district’s UPP remains among the lowest in the state. From 2018-19 through 2022-23, the district’s three-year rolling average UPP ranged from 9.33% to 9.76%, exceeding 10% for the first time in 2023-24. FCMAT used Projection-Pro to calculate a five-year weighted trend ratio of the district’s UPC to total enroll- ment. This ratio was applied to projected enrollment to estimate the UPP for the forecast years, as shown in Table 4. FCMAT’s projected UPP for 2025-26 is slightly lower than the district’s, and projections for 2026- 27 and 2027-28 are progressively higher than the district’s estimates each year. Table 4. Historical Data and FCMAT Projections of Enrollment and Unduplicated Pupil Count and Percentages, 2020-21 – 2027-28 Actual Actual Actual Actual Actual Projected Projected Projected 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 UPC 2,790 2,948 3,071 3,192 3,263 3,362 3,449 3,538 Total Enrollment 30,726 30,068 29,680 29,235 28,615 27,988 27,256 26,543 Single-Year UPP 9.08% 9.80% 10.35% 10.92% 11.40% 12.01% 12.65% 13.33% Three-Year Rolling LCFF UPP 9.51% 9.33% 9.75% 10.36% 10.89% 11.44% 12.01% 12.65% Sources: CDE Apportionment Funding Exhibits-School District Unduplicated Pupil Percentage and FCMAT’s MYFP. Average Daily Attendance ADA is calculated by dividing the total number of days students attend school by the number of instruc- tional days in a school year. Under the LCFF, school district funding has traditionally been based on the greater of the current year’s or prior year’s ADA, as reported during the second reporting period (P-2). The Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 6 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections P-2 ADA reflects student attendance from the first day of school through the last school month ending on or before April 15. Beginning in 2022-23, the state revised the formula to fund districts based on the highest ADA from three measures: the current year, the prior year, or the average of the three most recent years. During the COVID- 19 pandemic, the state temporarily modified ADA reporting and funding policies as follows: • 2019-20: ADA for the P-2 reporting period was based on attendance through the last full school month ending on or before February 29, 2020. • 2020-21: Districts used the 2019-20 ADA due to campus closures. • 2021-22: LCFF funding was based on either actual 2021-22 ADA or the 2019-20 ADA-to- enrollment ratio applied to 2021-22 enrollment, provided districts met independent study requirements. FCMAT reviewed enrollment and ADA data from 2018-19 through 2024-25, comparing October CALPADS enrollment counts to P-2 ADA to determine average ADA-to-enrollment ratios by LCFF grade spans (TK-3, 4-6, 7-8, 9-12). Excluding the pandemic-affected years (2019-20 through 2021-22), historical attendance rates ranged from 95.03% to 96.84%. Using the Projection-Pro software, FCMAT applied a three-year historical average ADA- to-enrollment ratio by grade span to calculate projected ADA for the base year and two subsequent years, as shown in Table 5. FCMAT’s overall weighted average ratio was 95.69%, slightly higher than the district’s 95.54%. Table 5. Historical Data and FCMAT Projections of Enrollment and ADA by LCFF Grade Span, 2020-21 — 2027-28 Actual Actual Actual Actual Actual Projected Projected Projected 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 Grade TK (for LCFF TK Add-On) ADA n/a n/a 575.25 732.51 842.91 916.19 887.41 853.19 Enrollment n/a n/a 639 787 889 989 949 911 ADA-to-Enrollment Ratio n/a n/a 90.02% 93.08% 94.82% 92.64% 93.51% 93.65% Grades TK-3 ADA 8,137.03 7,569.01 7,513.53 7,441.28 7,404.99 7,197.46 6,934.18 6,715.72 Enrollment 7,827 7,820 7,967 7,807 7,729 7,545 7,269 7,040 ADA-to-Enrollment Ratio 103.96% 96.79% 94.31% 95.32% 95.81% 95.39% 95.39% 95.39% Grades 4-6 ADA 6,957.09 6,559.23 6,181.65 6,181.26 5,945.34 5,917.93 5,656.90 5,504.71 Enrollment 6,859 6,733 6,455 6,409 6,166 6,144 5,873 5,715 ADA-to-Enrollment Ratio 101.43% 97.42% 95.77% 96.45% 96.42% 96.32% 96.32% 96.32% Grades 7-8 ADA 5,197.65 4,671.06 4,545.04 4,538.60 4,427.43 4,226.13 4,232.87 4,153.00 Enrollment 4,996 4,776 4,743 4,715 4,596 4,392 4,399 4,316 ADA-to-Enrollment Ratio 104.04% 97.80% 95.83% 96.26% 96.33% 96.22% 96.22% 96.22% Grades 9-12 ADA 10,656.84 10,362.80 9,964.07 9,829.94 9,659.42 9,441.24 9,258.27 9,026.69 Enrollment 11,044 10,739 10,515 10,304 10,124 9,907 9,715 9,472 ADA-to-Enrollment Ratio 96.49% 96.50% 94.76% 95.40% 95.41% 95.30% 95.30% 95.30% Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 7 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections Actual Actual Actual Actual Actual Projected Projected Projected 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 2027-28 Grades TK-12 ADA 30,948.61 29,162.10 28,204.29 27,991.08 27,437.18 26,782.76 26,082.22 25,400.12 Enrollment 30,726 30,068 29,680 29,235 28,615 27,988 27,256 26,543 ADA-to-Enrollment Ratio 100.72% 96.99% 95.03% 95.75% 95.88% 95.69% 95.69% 95.69% Sources: DataQuest, CDE Apportionment Funding Exhibits-School District ADA and FCMAT’s MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Comparison of District and FCMAT Projections FCMAT’s enrollment, UPC, and ADA projections are consistently higher than the district’s projections across all years, which resulted in corresponding differences in UPP and ADA-to-enrollment ratios. Table 6 compares the district’s adopted budget projections with FCMAT’s projections. Table 6. Comparison of District and FCMAT MYFP Projections, 2025-26 — 2027-28 2025-26 2026-27 2027-28 Enrollment FCMAT 27,988 27,256 26,543 District 27,868 27,119 26,369 Difference from District 120 137 174 Unduplicated Pupil Count FCMAT 3,362 3,449 3,538 District 3,344 3,322 3,296 Difference from District 18 127 242 Average Daily Attendance FCMAT 26,782.76 26,082.22 25,400.12 District 26,624.21 25,908.94 25,192.74 Difference from District 158.55 173.28 207.38 ADA-to-Enrollment Ratio FCMAT 95.69% 95.69% 95.69% District 95.54% 95.54% 95.54% Difference from District 0.16% 0.16% 0.16% Sources: District’s 2025-26 adopted budget and FCMAT’s MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Recommendations The district should: 1. Continue to consistently monitor and project enrollment, UPC and ADA using reasonable projection methods adjusted for local factors. 2. Continue to update projections at each financial reporting period to incorporate the most recent data into budget assumptions. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 8 Findings and Recommendations Enrollment, Unduplicated Pupils, and Average Daily Attendance Projections 3. Continue to regularly analyze enrollment and ADA projections, compare projections to actual enrollment and attendance, and adjust budgets and staffing as appropriate. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 9 Findings and Recommendations Multiyear Financial Projection Assumptions Multiyear Financial Projection Assumptions FCMAT’s MYFP is built on the district’s 2025-26 adopted budget and includes the impacts of the 2024-25 unaudited actuals and the state’s enacted 2025-26 budget. To develop the MYFP, the study team reviewed district records, interviewed staff, and analyzed various financial documents. Assumptions reflect conser- vative economic estimates and are grouped into major revenue and expenditure categories in accordance with the state’s SACS. FCMAT used Projection-Pro to update each funding source at the SACS resource code level for the base year and subsequent two fiscal years. Key planning factors and budget assumptions are based on the most current information available at the time, as summarized in Table 7 and detailed in the following paragraphs. As a best practice, budgets and MYFPs should be updated regularly, at least at each financial reporting period, using the latest assumptions to maintain accuracy. Table 7. FCMAT MYFP Budget Assumptions, 2025-26 — 2027-28 Description 2025-26 2026-27 2027-28 Statutory COLA 2.30% 3.02% 3.42% LCFF COLA 2.30% 3.02% 3.42% State Categorical COLA 2.30% 3.02% 3.42% Federal COLA 0.00% 0.00% 0.00% California Consumer Price Index (CPI) 3.09% 2.82% 2.72% California Lottery, Unrestricted per ADA $190 $190 $190 California Lottery, Restricted per ADA (Proposition 20) $82 $82 $82 Mandate Block Grant, District (Grades TK-8), per ADA $39.09 $40.27 $41.65 Mandate Block Grant, District (Grades 9-12), per ADA $76.48 $78.79 $81.48 Interest Rate Trend for 10-Year Treasuries 4.50% 4.36% 4.40% STRS Employer Rate 19.10% 19.10% 19.10% PERS Employer Rate 26.81% 26.90% 27.80% Certificated Staff Step-and-Column Increases 1.00% 1.00% 1.00% Classified Staff Step Increases 1.00% 1.00% 1.00% Health & Welfare Benefits Percent Change 10.7% 13.1% 10.6% State Unemployment Insurance Rate 0.05% 0.05% 0.05% Workers’ Compensation Insurance Rate 1.7641% 1.7641% 1.7641% District Indirect Cost Rate 4.96% 4.44% 4.44% Sources: FCMAT, DOF, CDE, SSC and district-provided data. Notes: The acronym “STRS” stands for California State Teachers’ Retirement System. The acronym “PERS” stands for California Public Employees’ Retirement System. Revenues FCMAT validated the district’s revenue using data from the CDE, grant award letters, and an analysis of district estimates for sources that could not be independently verified. Adjustments were made for any one- time or carryover2 funds from previous years. 2 The term “carryover” refers to unspent funds from one fiscal year that are retained for use in the next year, in accordance with applica- ble grant or program expenditure requirements. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 10 Findings and Recommendations Multiyear Financial Projection Assumptions Local Control Funding Formula Sources The LCFF, implemented in the 2013-14 fiscal year, is the primary funding source for California school dis- tricts. It consists of the following components: • A base grant per-pupil amount that varies by grade level, with an add-on for TK and grade span adjustments for grades TK-3 and 9-12. • A supplemental grant equal to 20% of the adjusted base grant, multiplied by the district’s percentage of unduplicated pupils, as measured by the UPP. • A concentration grant equal to 65% of the adjusted base grant, multiplied by the per- centage of unduplicated pupils exceeding 55% of total enrollment. (The district does not receive concentration funding because its UPP is below 55%). The LCFF requires districts to increase or improve services for unduplicated students in proportion to the supplemental and concentration funds they receive relative to base funds. This requirement is called the minimum proportionality percentage (MPP). Beginning in 2021-22, if a district does not meet its MPP, any unspent supplemental and concentration funds must be identified in the next year’s LCAP and used to increase or improve services for unduplicated students. For most districts, LCFF funding comes from a combination of local property taxes and state aid. Property taxes are applied first toward the total LCFF entitlement, with the state providing any remaining amount. If property tax revenue meets or exceeds the LCFF entitlement, the district is classified as basic aid or com- munity funded. The district is not currently or projected to be a basic aid district. Proposition 30 (2012) temporarily added a quarter-cent sales tax and increased state income tax rates on high earners. The sales tax expired in 2016, while Proposition 55 extended the income tax increase through 2030. These revenues go into the Education Protection Account (EPA) and count as part of LCFF state aid. All LEAs, including basic aid districts, receive EPA funds, with a minimum of $200 per ADA. LCFF Projections School districts are encouraged to use the FCMAT LCFF Calculator for School Districts and Charter Schools to estimate LCFF revenue. FCMAT used this tool to calculate the district’s LCFF entitlement, using updated data from the 2025-26 enacted state budget and the 2024-25 second principal apportionment, which were released after the district adopted its 2025-26 budget. These updates, along with FCMAT’s projections for enrollment, ADA, and UPP, produced higher LCFF entitlement estimates for the current year and the following two years than the district originally projected. These increases were primarily driven by increased TK ADA estimates and an additional $2,397 per TK ADA provided by the state to support lowering the student-to-adult ratio from 12-to-1 to 10-to-1. Table 8 compares the district’s adopted budget LCFF assumptions and projections with FCMAT’s. Table 8. Comparison of District and FCMAT LCFF Assumptions and Projections, 2025-26 — 2027-28 2025-26 2026-27 2027-28 LCFF Funded ADA FCMAT 27,887.28 27,408.72 26,771.19 District 27,886.36 27,354.93 26,659.59 Difference from District 0.92 53.79 111.60 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 11 Findings and Recommendations Multiyear Financial Projection Assumptions 2025-26 2026-27 2027-28 TK ADA (for LCFF Add-On) FCMAT 916.19 887.41 853.19 District 882.90 858.60 835.20 Difference from District 33.29 28.81 17.99 Unduplicated Pupil Percentage FCMAT 11.44% 12.01% 12.65% District 11.46% 11.90% 12.25% Difference from District -0.02% 0.11% 0.40% LCFF Entitlement FCMAT $335,727,825 $340,217,432 $344,095,025 District $333,428,493 $337,287,174 $340,310,865 Difference from District $2,299,332 $2,930,258 $3,784,160 Supplemental Grant FCMAT $7,354,914 $7,817,885 $8,320,034 District $7,367,520 $7,732,933 $8,026,279 Difference from District ($12,606) $84,952 $293,755 Sources: District and FCMAT LCFF calculator projections. Federal Revenue FCMAT reviewed, verified, and adjusted the district’s federal revenue estimates for the 2025-26 base year. Where available, FCMAT used the CDE’s most recent allocations and the district’s 2024-25 carryover. When current year allocations were not available, FCMAT applied either a five-year historical average or calcu- lated an estimate based on projected enrollment or ADA, depending on the funding source. These adjustments resulted in a net increase of $222,161 compared to the district’s projections, as detailed below: • Title Programs: A net increase of $342,119 reflecting prior year carryover added in each program, including Titles I, II, III and IV. • Special Education: A decrease of $119,958, primarily in the Individuals with Disabilities Education Act Basic Local Assistance Entitlement, partially offset by increases in other spe- cial education sources. Budgeting federal revenue requires caution due to ongoing uncertainty in the federal budget, particularly since the district has allocated much of this funding to salaries, benefits, and contracted services. For 2026- 27 and 2027-28, FCMAT assumed flat federal funding with no COLA, using the same methodology, either historical averages or adjustments based on projected enrollment or ADA, when allocations were not yet available. FCMAT also excluded carryover from projections in 2026-27 and 2027-28. Consistent with best prac- tices, the district’s 2025-26 adopted budget did not include prior-year carryover. Carryover should not be included in the current year budget until prior year unaudited actuals are finalized and should be excluded from subsequent years of the MYFP. Including these revenues prematurely can lead to overbudgeting and overspending. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 12 Findings and Recommendations Multiyear Financial Projection Assumptions Title I, Part A Program The district’s Title I, Part A program carryover from 2024-25 exceeded 15% of its allocation, which triggers the requirement to apply for a State Board of Education (SBE) waiver to carry funds forward into the next fiscal year. Federal regulations under the Every Student Succeeds Act (ESSA) limit Title I carryover to 15% unless a waiver is granted, and waivers are allowed only once every three years. Exceeding this threshold without an approved waiver poses a compliance risk. The best practice is to expend restricted funds before unrestricted funds to minimize carryover, maximize unrestricted resources and maintain compliance. The district operates a Targeted Assistance School (TAS) program rather than a schoolwide program, restricting Title I services to students identified as failing or most at risk of failing to meet state academic standards. This narrower scope adds planning complexity and has contributed to delays in obligating funds. Much of the district’s Title I funding is allocated to salaries, benefits and contracted services, making timely planning critical to avoid overbudgeting and underspending. Other State Revenue State revenue allocations fluctuate throughout the year, requiring districts to monitor funding closely and adjust budgets accordingly. Without careful oversight, districts risk leaving grant funds unused or exceed- ing available resources. In developing the MYFP, FCMAT confirmed the district’s 2025-26 state grant award amounts using CDE schedules and grant award letters. When current year allocations were unavailable, estimates relied on an analysis of actual revenues from the prior three fiscal years or projected per ADA amounts, depending on the source. Where applicable, 2025-26 state revenues were projected into subsequent years and adjusted for COLA, ADA changes, and, for the home-to-school transportation reimbursement, anticipated cost increases such as salaries and other expenses. FCMAT adjusted other state revenues by a net increase of $16.8 million in 2025-26. These adjustments include: • $8,589,154 added for the new Student Support and Professional Development Discretionary Block Grant (SSPDBG). • $4,311,327 in remaining allocations for the California Schools Healthy Air, Plumbing, and Efficiency (CalSHAPE) Plumbing and Ventilation Programs. • $1,326,525 added for STRS on-behalf payments, aligned with prior year actuals. • $821,021 added for the Classified School Employee Summer Assistance Program. • $724,615 added to increase the home-to-school transportation reimbursement based on prior year eligible expenses. • $602,709 added for Arts and Music in Schools — Proposition 28 (AMS) funding based on CDE’s advance apportionment schedule. • $307,591 added for restored Learning Recovery Emergency Block Grant funds. • $118,793 in net adjustments to the Expanded Learning Opportunities Program (ELOP), man- date block grant, state lottery, assessments and special education programs. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 13 Findings and Recommendations Multiyear Financial Projection Assumptions Student Support and Professional Development Discretionary Block Grant The state’s 2025-26 enacted budget established the SSPDBG, which provides one-time funding intended to support professional development in English language arts, English language development, literacy, and mathematics; teacher recruitment and retention; and career pathways and dual enrollment programs. Although these areas are emphasized, the funds are fully discretionary and may be used for any general purpose. Allocations are based on the district’s 2024-25 TK-12 P-2 ADA, at an estimated $313 per ADA. According to the CDE’s August 2025 schedule, the district’s allocation is $8,589,154. Funds are available through June 30, 2029, with a final expenditure report due to the CDE by September 30, 2029. The district plans to use these one-time funds to restore certain certificated positions for the 2025-26 year only, eliminate two of three certificated furlough days in 2025-26, and eliminate all classified and man- agement furlough days for 2025-26 through 2027-28. To follow the best practice of using restricted funds before unrestricted, FCMAT budgeted a direct cost transfer in 2025-26 from the unrestricted general fund to the grant to show as fully spent in 2025-26. Arts and Music in Schools—Proposition 98 The state annually determines total AMS funding in the May Revision. For 2025-26, the appropriation is approximately $1.04 billion. Of this amount, 70% is allocated based on each district’s share of statewide enrollment, and 30% is distributed according to the prior year enrollment of economically disadvantaged pupils. Funding is calculated at the school site level, and districts must allocate funds to each site as determined by the CDE. Although final allocations are certified in the second principal apportionment in June, signifi- cant changes are not anticipated. FCMAT increased the district’s 2025-26 AMS allocation by $602,709 and projected a 2% annual decrease for the subsequent fiscal years. Learning Recovery Emergency Block Grant The 2025-26 enacted state budget restored approximately $114 per ADA and UPP to the Learning Recovery Emergency Block Grant. This program funds learning recovery initiatives through 2027-28 that support academic learning recovery and the social and emotional well-being of staff and students. Based on this restoration, FCMAT estimated an additional one-time allocation of $307,591 for the district in 2025-26. Expanded Learning Opportunities Program Since the 2021-22 fiscal year, ELOP has provided districts with funding to offer after-school and summer enrichment programs for students in grades TK-6. According to the CDE, expanded learning refers to before-school, after-school, summer and intersession programs that address students’ academic, social, emotional, and physical needs and interests through hands-on, engaging experiences. Beginning in 2023-24, ELOP funds must be spent by June 30 of the fiscal year following the allocation year, with any unspent funds returned to the state. The district reported returning about $180,000 from its 2022- 23 allocation. Because the district’s UPP is less than 75%, program requirements mandate offering ELOP to all unduplicated pupils in grades TK-6 and providing access upon parent or guardian request. However, with one of the state’s lowest UPPs, demand has not met funded levels. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 14 Findings and Recommendations Multiyear Financial Projection Assumptions Beginning in the 2025-26 fiscal year, districts may opt out of ELOP funding under Senate Bill 153, which amended EC 46120 to require districts to annually declare whether they will operate the program. The district reports it will continue operating ELOP in the base year and throughout the MYFP period. FCMAT assumed continued funding at Rate 2 (for districts with UPPs of 74.99% or less), estimated at $1,575, and projected ELOP revenues by multiplying this rate by the projected prior year UPP and P-2 ADA for TK-6 for each year in the projection. Mandated Costs Funding The Mandate Block Grant provides districts funding for state-mandated programs and activities, as outlined in Government Code (GC) 17581.6(f). Districts may apply annually through the CDE or submit individual mandate reimbursement claims to the State Controller’s Office. The district has historically opted into the Mandate Block Grant, which is based on prior year P-2 ADA by grade level and uses a per-ADA rate adjusted annually for COLA. For 2025-26, FCMAT estimated this funding using its P-2 ADA projections and added an additional $1.17 per ADA for grades 9-12 to account for a new Free Application for Federal Student Aid-related mandate included in the 2025-26 enacted state budget. These adjustments increased the base year amount by $13,766. Other Local Revenue The district receives local revenues from sources such as leases and rentals, interest earnings, donations, and other miscellaneous items. To assess reasonableness, FCMAT compared budgeted amounts to actual revenues from the prior three years and interviewed staff regarding other restricted local sources. Based on this analysis, FCMAT increased other local revenue by a net $2.6 million, as detailed below: • $2,598,614 added for miscellaneous revenue, primarily school site support donations from educational foundations, parents and booster clubs. • $144,294 added for parcel taxes based on prior year actuals. • $88,000 reduced from sales of equipment and supplies and leases and rentals income. • $62,956 reduced from interagency services, fees and contracts based on prior year actuals. Because these revenues often cannot be guaranteed from year to year, budgets and MYFPs for these items should be conservative, consider historical trends and identify one-time revenues. These items should also be monitored and updated throughout the year based on amounts received to date. Donation Support for Core Operations In 2024-25, the district received more than $22.5 million in donations from its educational foundation, parents and community to support school sites, activities and athletics, representing 5.0% of total reve- nues. In some cases, these donations help offset costs that would otherwise be borne by the district’s base program, allowing the district to maintain programs and services that might not be sustainable within its primary funding sources. While this support has been consistent and substantial, it is voluntary and cannot be guaranteed from year to year, creating fiscal uncertainty. This reliance on donations exists because the district is one of the lowest LCFF-funded districts in the state, with a UPP of around 10%. In addition, the district is experiencing reduced revenues from declining enroll- ment and increased costs due to inflation and other economic factors, which place additional pressure on Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 15 Findings and Recommendations Multiyear Financial Projection Assumptions unrestricted resources. As a result, donations have become a structural component of maintaining pro- grams and staffing. The risk inherent in this funding structure is significant. If donations decline, the district may be forced to reduce school site programs, academic supports and positions funded through these dollars. This uncer- tainty complicates long-term planning and exposes the district to operational instability. The district allocates one full-time equivalent (FTE) budget analyst from the unrestricted general fund to manage these funds across 35 school sites and does not collect indirect costs on these dollars. While most donations are spent annually, some funding sources have been carried forward or accumulated modest balances. Implementing indirect or direct cost recovery and developing a contingency plan focused on increasing reserve levels could help reduce uncertainty associated with structural reliance on donations. Recommendations The district should: 1. Continue to update budgets and MYFPs regularly and at each financial reporting period. 2. Continue to use the most current information available and assumptions that align with industry standards to develop budgets and MYFPs. 3. Continue using the most recent version of the LCFF calculator, along with updated enrollment, UPC, and ADA estimates, when preparing and revising LCFF revenue projections. 4. Continue to update revenue budgets throughout the year as entitlements and grant amounts become known, ensuring budgets match award letters and allocations provided by the CDE and other grantor agencies. 5. Continue to track and monitor one-time revenues to ensure they are removed from budgets and projections as appropriate. 6. Continue to recognize carryover in the current year budget after the prior year unaudited actuals are completed and ensure that carryover is removed as appropriate in the subsequent years of the MYFP. 7. Continue to estimate federal revenues conservatively considering historical funding levels and enrollment and ADA changes. 8. Apply for a SBE waiver and implement procedures to ensure Title I funds are expended or obligated during the year they are allocated, prioritizing the use of restricted funds. 9. Develop a targeted planning process for Title I that accounts for the complexity of the TAS program serving only eligible students. 10. Monitor federal carryover levels regularly to prevent exceeding any limiting thresholds in future years. 11. Base other state revenue projections on the enrollment and ADA forecasts, as appropriate. 12. Regularly communicate program balances to department administrators to support effective planning and ensure funds are spent within grant and program deadlines. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 16 Findings and Recommendations Multiyear Financial Projection Assumptions 13. Develop and implement strategies to fully utilize ELOP funding, including outreach to increase participation and adjusting program delivery to match student demand. 14. Ensure local revenues are budgeted conservatively and adjusted as needed to reflect actual amounts received. 15. Consider historical trends and one-time revenues when developing budgets and MYFPs for local revenues. 16. Implement indirect cost recovery on donated funds where possible to offset administrative and operational expenses. 17. Consider funding the budget analyst position that manages donations from these funds to reduce pressure on the unrestricted general fund. 18. Develop a contingency plan that prioritizes increasing reserve levels to mitigate uncertainty in donation revenue. Expenditures In developing its MYFP, FCMAT reviewed the 2025-26 adopted general fund expenditure budget for rea- sonableness, comparing base year projections with the prior three years of actual expenditures. FCMAT’s MYFP assumes that ongoing costs recorded in the 2024-25 unaudited actuals report will continue unless adjusted, as described in detail in the sections that follow. FCMAT also removed known one-time expenditures, shifted ongoing costs from expired restricted pro- grams to the unrestricted general fund, and applied the most recent CPI inflation factors to approved textbooks and core curricula materials (object 4100), materials and supplies (object 4300) and professional/ consulting services and other operating expenditures (object 5800). While the district’s MYFP expenditures appeared reasonable based on the preparation timing, the narrative supporting key assumptions, particularly salary adjustments on lines B1d and B2d, lacked sufficient detail and did not reconcile with the amounts shown. The budget narrative also failed to clearly explain how the district’s $26.0 million fiscal stabilization plan was incorporated, creating uncertainty about which ele- ments were included or excluded. This lack of clarity was compounded by timing issues related to securing concessions and the outcome of mediation with the certificated bargaining unit. A more comprehensive narrative would improve transparency and help interested parties understand the district’s fiscal strategy, including what was assumed, implemented, and still pending. Salaries During 2024-25, the district worked with its bargaining units to implement its $26 million fiscal stabilization plan to eliminate a structural deficit in its unrestricted general fund. The district remained in mediation with its certificated bargaining unit until late May, seeking reductions comparable to those agreed upon with other employee groups. As a result of its mediated certificated agreement, the district committed to using one-time funds from the state’s 2025-26 budget, specifically the SSPDBG, to restore certain certificated positions for the 2025- 26 school year only. These funds also reduced proposed furlough days for certificated staff to one day in 2025-26, maintaining two additional furlough days in 2026-27 and 2027-28, for a total of three days in each of those years. Classified and management furlough days were eliminated for all three years, except for the superintendent, who retained one day in 2025-26. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 17 Findings and Recommendations Multiyear Financial Projection Assumptions To validate salary assumptions in the district’s 2025-26 adopted budget, FCMAT began with the 2024-25 unaudited actuals and applied a 1% step-and-column adjustment to monthly pay for all certificated and classified positions, consistent with the district’s estimate of step-and-column costs. However, the dis- trict has not analyzed whether this 1% assumption accurately reflects actual costs. The best practice is to review actual step-and-column costs after the close of each fiscal year to determine if the estimate remains appropriate to use in projections, particularly during times of significant staffing adjustments, layoffs, and increased retirements. Failure to do so could lead to inaccurate salary projections and increase the risk of future deficit spending. FCMAT then removed salaries that tied to final reduction-in-force notices approved by the board on May 9, 2025, and estimated an additional 35 FTE certificated teacher reductions using average salary data pro- vided by the district. This estimate reflected positions not filled from resignations or retirements and was based on a comparison of school site enrollment and staffing allocations between 2024-25 and 2025-26. For 2026-27 and 2027-28, FCMAT removed certificated positions restored in 2025-26 with one-time funds and added two additional certificated furlough days. The actual financial impact of furlough days will vary by each position’s work year; for certificated staff, FCMAT assumed one furlough day equaled approxi- mately 0.5% of total salary, excluding stipends, hourly, overtime, and substitute compensation. The MYFP also assumed a 1% cost for step-and-column adjustments in 2026-27 and 2027-28 for both classified and certificated salaries. Position Control and Budget Alignment The district uses Quintessential School Systems (QSS) software, a fully integrated administrative system for LEAs that includes modules for budgeting, accounting, payroll, personnel, and position control. The position control module connects staffing data with budget and payroll, allowing districts to track positions, funding sources and associated costs to ensure that salary and benefit projections align with adopted bud- gets and actual payroll activity. As part of the MYFP process, FCMAT compared position control data to the 2025-26 adopted budget. While overall variances in total were minor, significant program-level differences, both underbudgeted and overbudgeted, indicate that the district’s 2025-26 position control report did not reconcile to the adopted budget. With more than 4,000 employees, the district was still processing layoffs, position eliminations, resignations and new hires during budget development, as well as reallocating staff to new funding sources after the expiration of one-time funds. These circumstances are common in LEAs during budget develop- ment; however, it is critical that the position control report used for budget adoption reconcile to the budget amounts and clearly document the positions and funding assumptions included. This report should serve as a baseline for tracking changes and be updated and reconciled at least at each interim reporting period, or more frequently as needed. The best practice for budget monitoring is to reconcile position control with budget and payroll at least at each fiscal reporting period (e.g., first interim, second interim, and estimated actuals). This practice helps ensure that salary and benefit encumbrances and budgets remain accurate and aligned. During interviews, business services and human resources staff acknowledged that the district could strengthen its reconcilia- tion processes. The district’s position control system sometimes assigns a single position control number to groups of simi- lar positions. For example, all teachers at a school site may share one position control number, representing multiple FTEs. The district has considered moving entirely to a one-position-per-employee structure. While grouped position numbers work well during times of growth, they become difficult to manage during reduc- tions — such as the current situation — adding complexity to tracking staffing and funding adjustments. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 18 Findings and Recommendations Multiyear Financial Projection Assumptions Certificated Salaries FCMAT increased certificated salaries for 2025-26 by a net $4.6 million, which includes a $5.1 million increase in the unrestricted general fund and a $541,438 decrease in the restricted general fund. The increase is primarily due to restoring certain certificated positions — 4.0 FTE social workers, 11.0 FTE ele- mentary counselors and 2.0 FTE for class size adjustments in grades 4 and 5 — and eliminating savings from two furlough days included in the district’s adopted budget. Because FCMAT used 2024-25 unaudited actuals as the salary base for projections, it budgeted a direct cost transfer (object 5710) to reflect the shift of certain one-time salaries added into the SSPDBG. Ongoing salaries were reallocated to the unrestricted general fund in 2026-27 from the following expir- ing resources: $464,553 in teachers’, administrators’ and other certificated salaries from the Educator Effectiveness — FY 2021-22, $1.4 million in pupil support salaries from the Learning Recovery Emergency Block Grant, and $110,492 in administrators’ salaries from the Universal Prekindergarten Planning and Implementation Grant. Overall, combined general fund certificated salaries are projected to decrease $7.8 million from 2024-25 to $188.5 million in 2025-26, decline by another $1.8 million in 2026-27, and then increase by $1.7 million in 2027-28. Classified Salaries FCMAT decreased classified salaries for 2025-26 by a net $2.0 million, which includes a $281,137 increase in the unrestricted general fund and a $2.3 million decrease in the restricted general fund. The change is primarily due to reduced salary expenditures for the special education program, offset by increases for the Classified School Employee Summer Assistance Program and Other Restricted Local resources. The special education decrease reflects the district’s practice of budgeting all projected personnel costs at the start of the year in salaries and benefits, then transferring budget to services and other operating expenses as contracts are executed to cover temporary staffing for vacancies or hard-to-fill positions. The offsetting expenditure increase appears in the services and other operating expenses budget, consistent with prior year expenditure patterns. Because FCMAT used 2024-25 unaudited actuals as the salary base for projections, it budgeted a direct cost transfer (object 5710) to reflect the one-time shift of three classified furlough days to the SSPDBG. Overall, combined general fund classified salaries are projected to decrease $2.4 million from 2024-25 to $69.8 million in 2025-26, and then increase by $697,102 in 2026-27 and by $704,074 in 2027-28. Employee Benefits FCMAT increased employee benefits for 2025-26 by a net $3.5 million, almost entirely in the unrestricted general fund with only $54,372 in the restricted general fund. Statutory payroll benefits (i.e., STRS and PERS contributions, Medicare, social security, unemployment and workers’ compensation insurance) were calculated in proportion to adjusted salaries budgeted for each fiscal year; however, the STRS on-behalf contribution estimate was increased by $1.3 million to align with 2024-25 unaudited actuals. The district does not publish its workers’ compensation rate assumptions in its budget materials; it car- ried the 2024-25 rate into the current and subsequent year projections. The workers’ compensation rate decreased from approximately 1.90% in 2024-25 to 1.76% in 2025-26, and FCMAT applied the current rate in each subsequent year of the projection. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 19 Findings and Recommendations Multiyear Financial Projection Assumptions Other statutory benefits in subsequent years changed in proportion to adjustments in certificated and clas- sified salaries, and rates matched the district’s assumptions. Health-and-Welfare Benefits FCMAT increased health and welfare benefit costs by $1.6 million in 2025-26, including a $2.1 million increase in the unrestricted general fund and a $508,632 decrease in the restricted general fund. The district’s collective bargaining agreements include a soft cap on health benefits, under which the district fully covers Kaiser health plan premiums for full-time employees. As a result, the district absorbs all Kaiser premium increases, which have averaged 8.21% annually since 2022. The plan year aligns with the calendar year. For 2026, Kaiser rates rose by 15.94%, which annualizes to a 10.7% increase in 2025-26 health-and-welfare costs. The district also provides an in-lieu payment of $464 per month or up to $5,568 annually for employees who decline medical coverage. District contributions are prorated for certain part- time employees. Because the district’s other health plan premiums are higher than Kaiser’s, FCMAT assumed health-and- welfare benefit costs would increase by 10.7% in 2025-26, 13.1% in 2026-27, and 10.6% in 2027-28, based on an average Kaiser increase of 10.58% with no change to the in-lieu amount. In comparison, the district’s adopted budget MYFP assumed an 8.05% increase for health and welfare benefits in each year. Books and Supplies FCMAT increased the 2025-26 books and supplies budget by a net $813,276, which includes an $8,567 decrease in the unrestricted general fund and an $821,843 increase in the restricted general fund due to various program adjustments. In its MYFP, FCMAT removed one-time books and supplies expenditures from subsequent years for the following programs: Universal Prekindergarten Planning and Implementation Grant, Kitchen Infrastructure and Training Funds, Other Restricted State — Children & Youth Behavioral Health Initiative (CYBHI), and Other Restricted Local. Because expenditure budgets exceeded projected revenues, FCMAT also reduced books and supplies expenditures for the following restricted programs: Title I, Title III, Title IV, and Other Restricted Local. Services and Other Operating Expenditures FCMAT increased the 2025-26 services and other operating expenditures budget by a net $19.3 million, reflecting a $5.9 million decrease in the unrestricted general fund and a $25.2 million increase in the restricted general fund. The change was driven by two factors. First, certain expenditures shifted on a one-time basis from the unrestricted general fund to restricted programs, including the SSPDBG, Educator Effectiveness — FY 2021- 22, Classified School Employee Professional Development Block Grant, A-G Access/Success Grant, A-G Learning Loss Mitigation Grant, and Other Restricted State — CYBHI. Second, expenditures increased in programs based on prior year actuals or current year allocations, such as Special Education, the Restricted Maintenance Account (RMA) and Other Restricted Local — CalSHAPE. Increases in special education were partially offset by reductions in salaries and benefits, reflecting prior year actual expenditure patterns. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 20 Findings and Recommendations Multiyear Financial Projection Assumptions In its MYFP, FCMAT removed one-time expenditures from subsequent years for the following programs: Kitchen Infrastructure and Training Funds, Other Restricted State — Ethnic Studies, and Other Restricted Local — CalSHAPE. Because expenditure budgets exceeded revenues, FCMAT also reduced expenditures for Title II, Title IV, and Other Restricted Local programs. Ongoing expenses were also transferred from expired restricted programs, such as Other Restricted State — Literacy Screenings. Capital Outlay FCMAT increased the 2025-26 capital outlay expenditures budget by $687,125, with $82,800 added to the unrestricted general fund and $604,325 added to the restricted general fund. FCMAT carried the base year capital outlay expenditures into subsequent fiscal years, except for the remaining Kitchen Infrastructure and Training funds ($274,475), which will be fully spent in 2025-26. Other Outgo/Indirect Costs The 2024-25 unaudited actuals report shows that the district charged indirect costs to most programs. However, for some programs, such as special education, the rate charged was lower than the allowable rate or not charged at all. In 2025-26, FCMAT increased other outgo expenditures for indirect cost transfers by $4.3 million in the restricted general fund. This adjustment resulted in a corresponding expenditure offset in the unrestricted general fund, primarily from increased indirect cost charges to special education programs, the SSPDBG and the Learning Recovery Emergency Block Grant. FCMAT applied indirect cost charges at the maximum allowable rate for each restricted program in the base year and subsequent years to ensure accurate program cost accounting, even when this resulted in a contribution from the unrestricted general fund. Indirect costs were based on the CDE’s approved rate for the district for 2025-26, which is 4.96%. Based on 2024-25 unaudited actuals Form ICR, FCMAT used 4.44% for 2026-27 and 2027-28. The district does not charge indirect costs to other eligible funds. FCMAT increased transfers of inter- fund indirect costs into the unrestricted general fund in 2025-26 by $476,215 from the Cafeteria Special Revenue Fund (Fund 13), using the lesser of the CDE-approved rate for Child Nutrition or the district’s indi- rect cost rate. FCMAT applied 4.96% in 2025-26 and 4.44% in the subsequent fiscal years. FCMAT made no other changes to the district’s other outgo expenditures; the district had no debt service payments in the general fund in the three prior years or the base year. Recommendations The district should: 1. Continue to prepare general fund MYFPs at the resource code level using FCMAT’s Projection-Pro software. 2. Provide clear, detailed explanations of key assumptions, such as salary and position adjustments and the workers’ compensation rate, in adopted budget and interim financial report MYFPs. 3. Analyze actual step-and-column costs annually and adjust projections to reflect real trends. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 21 Findings and Recommendations Multiyear Financial Projection Assumptions 4. Ensure position control reports reconcile with adopted budget and interim financial reports, documenting all positions and funding assumptions. 5. Consider transitioning grouped position numbers to a one-position-to-one employee model to make staffing adjustments and funding shifts easier to manage and improve the accuracy of the position control system. 6. Update and reconcile position control data with budget and payroll at least at each interim reporting period and more frequently during significant staffing changes or funding adjustments. 7. Continue to track and monitor one-time expenditures to ensure they are removed from budgets and projections. 8. Avoid using one-time funds for ongoing expenses or adopt a board-approved plan to fund or eliminate those costs when one-time funds expire. 9. Continue applying CPI adjustments consistently to books, supplies, and services, and document assumptions for transparency. 10. Monitor health and welfare cost trends and adjust projections accordingly. 11. Charge indirect costs at the maximum allowable rate for all eligible programs. Other Financing Sources/Uses Interfund - Transfers In The district’s adopted budget MYFP includes transfers into the unrestricted general fund from the Fund 17 of $1.5 million in 2026-27 and $3.2 million in 2027-28. According to the district’s criteria and standards nar- rative, these transfers are necessary to maintain a positive unrestricted general fund balance in both years. While using Fund 17 to temporarily support the general fund can provide short-term fiscal relief, reliance on transfers of one-time funds to maintain solvency is not a sustainable practice. FCMAT’s MYFP removed these interfund transfers from the unrestricted general fund. Interfund - Transfers Out The district transferred $2.9 million in 2022-23 and $2.3 million in both 2023-24 and 2024-25 from the unrestricted general fund to the Special Reserve Fund for Capital Outlay Projects (Fund 40) to support debt service payments for solar and security projects. The adopted budget MYFP continues these transfers at $2.3 million in 2025-26 and 2026-27, with a reduction to $945,845 in 2027-28. FCMAT’s MYFP maintains these transfers from the unrestricted general fund to support debt service. Annual debt service, covering both principal and interest, totals over $3.1 million in 2025-26, $3.0 million in 2026-27, and declines to $1.2 million in 2027-28. The district’s budget narrative does not explain why the transfer amounts fail to recon- cile with these annual debt service totals; however, the district indicated that it has sufficient fund balance in Fund 40 to cover the difference. Contributions Restricted programs are intended to be self-supporting, with exceptions for the RMA, special education, and other programs the district chooses to support with unrestricted general funds. When revenues in Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 22 Findings and Recommendations Multiyear Financial Projection Assumptions restricted programs are insufficient to cover expenditures, state accounting rules require districts to contrib- ute unrestricted funds to balance the program’s revenues and expenditures. Table 9 shows the unrestricted general fund contributions to restricted programs included in FCMAT’s MYFP. When expenditure budgets exceeded projected revenues in the subsequent years of the projection, FCMAT reduced nonsalary accounts — books and supplies, services and other operating expenses, and capital outlay — where possible to stay within the projected revenue estimates. Restricted Maintenance Account (RMA) Because the district participates in the state’s facilities funding program, it must contribute unrestricted general funds to the RMA. The minimum required contribution is 3% of total general fund expenditures and other financing uses for each fiscal year, excluding certain restricted programs. The district’s 2025-26 adopted budget projected a contribution of $13.1 million to the RMA, which is $708,109 less than the prior year. FCMAT increased this contribution by $549,456 to $13.7 million to align with its projected expendi- tures for 2025-26; the contribution is estimated to increase to more than $13.9 million in 2027-28. Special Education Program The district’s 2025-26 adopted budget projected a contribution of $55.5 million to special education programs in the base year. FCMAT increased this contribution by $4.3 million to $59.8 million to align with adjusted expenditures for 2025-26. Much of the increase reflects the addition of indirect costs to the pro- gram. The MYFP projects this contribution will rise to $61.3 million in 2026-27 and $63.6 million in 2027-28. Table 9. FCMAT MYFP General Fund Contributions Summary, 2025-26 — 2027-28 Resource Base Year Year 1 Year 2 Description Code 2025-26 2026-27 2027-28 Unrestricted 0000 ($73,758,557) ($75,217,657) ($77,907,459) Total Unrestricted ($73,758,557) ($75,217,657) ($77,907,459) Career Technical Education Incentive Grant 6387 $27,735 $54,427 $89,530 Strong Workforce Program 6388 $54,427 $59,326 $64,453 Special Education 6500 $89,530 $60,985,153 $63,219,174 Special Education: Project Workability I 6520 $37,540 $43,422 $50,005 Mental Health-Related Services 6546 $50,000 $66,867 $101,280 Special Education: Early Intervention Preschool Grant 6547 $103,710 $160,187 $224,793 Restricted Maintenance Account 8150 $13,652,708 $13,600,276 $13,908,223 Other Local Restricted 9010 $277,640 $250,000 $250,000 Total Restricted $73,758,557 $75,217,657 $77,907,459 Sources: FCMAT’s MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Recommendations The district should: 1. Clearly explain the rationale for transfers in and out of the general fund, including how they align with debt service obligations and reserve policies. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 23 Findings and Recommendations Multiyear Financial Projection Assumptions 2. Continue efforts to eliminate the structural deficit in its unrestricted general fund and identify ongoing solutions to ensure long-term fiscal stability rather than relying on one- time Fund 17 funds to maintain solvency. 3. Regularly review contributions to ensure they align with actual program needs and adjust when expenditure budgets exceed revenues. 4. Use the MYFP to identify programs that may require contributions from the unrestricted general fund in subsequent years, adjust the MYFP to account for those contributions, and act as necessary to ensure restricted programs are self-sustaining. 5. Continue monitoring contributions to meet the 3% RMA requirement and adjust for changes in total expenditures. 6. Continue to review factors contributing to rising special education costs and consider incorporating indirect costs to capture full program costs. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 24 Findings and Recommendations Multiyear Financial Projection Analysis Multiyear Financial Projection Analysis An MYFP evaluates a school district’s long-term financial stability by projecting revenues and expenditures over several years using current budget assumptions. Its purpose is to determine whether the district can maintain a balanced budget and meet the state-required minimum reserve for economic uncertainties for the current year and two subsequent years. Key risk indicators include ongoing deficit spending and insuffi- cient unrestricted general fund balance and reserves. Unrestricted General Fund Unrestricted dollars can be used for any purpose. FCMAT analyzed all general fund sources and expen- ditures by resource. Based on current assumptions, the district is projected to end 2025-26 with a small operating deficit of $65,764, with deficit spending increasing to $13.0 million in 2026-27 and $17.9 million in 2027-28. Without additional revenue or expenditure reductions, the district will fail to meet the 3% minimum reserve for economic uncertainties in 2026-27 and will close the year with an unrestricted ending fund balance of negative $11.6 million. This projection assumes the Fund 17 balance will cover the negative fund balance in 2026-27 but will be insufficient to offset the shortfall in 2027-28. Reserves and the unrestricted general fund balance are addressed in more detail in the section below. Table 10 summarizes FCMAT’s analysis of the unrestricted general fund resources for 2025-26 and the two subsequent fiscal years. Table 10. FCMAT Unrestricted General Fund Summary, 2025-26 — 2027-28 Adjusted Base Year Year 1 Year 2 Description Object Code 2025-26 2026-27 2027-28 A. Revenues LCFF Sources 8010-8099 $335,727,825 $340,217,432 $344,095,025 Federal Revenue 8100-8299 $0 $0 $0 Other State Revenues 8300-8599 $12,847,902 $13,127,546 $13,304,122 Other Local Revenues 8600-8799 $12,658,519 $12,621,186 $12,631,853 Other Financing Sources - Transfers In 8900-8929 $0 $0 $0 Contributions 8980-8999 ($73,758,557) ($75,217,657) ($77,907,459) Total, Revenue $287,475,689 $290,748,507 $292,123,541 B. Expenditures Certificated Salaries 1000-1999 $148,891,970 $149,206,634 $150,558,088 Classified Salaries 2000-2999 $38,463,122 $38,847,753 $39,236,231 Employee Benefits 3000-3999 $85,466,900 $90,124,116 $94,958,804 Books and Supplies 4000-4999 $3,477,000 $3,550,715 $3,623,821 Services and Other Operating Expenditures 5000-5999 $14,615,842 $24,302,292 $25,488,386 Capital Outlay 6000-6999 $82,800 $82,800 $82,800 7100-7299 Other Outgo (excluding Transfers of Indirect Costs) 7400-7499 $0 $0 $0 Other Outgo - Transfers of Indirect Costs 7300-7399 ($5,823,990) ($4,784,184) ($4,869,009) Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 25 Findings and Recommendations Multiyear Financial Projection Analysis Adjusted Base Year Year 1 Year 2 Description Object Code 2025-26 2026-27 2027-28 Other Financing Uses - Transfers Out 7600-7629 $2,367,808 $2,367,808 $945,845 Total, Expenditures $287,541,452 $303,697,934 $310,024,966 C. Net Increase/Decrease in Fund Balance ($65,764) ($12,949,427) ($17,901,425) D. Fund Balance Beginning Fund Balance, July 1 9791 $1,456,387 $1,390,623 ($11,558,804) Audit Adjustments / Other Restatements 9793, 9795 $0 $0 $0 Adjusted Beginning Balance $1,456,387 $1,390,623 ($11,558,804) Ending Fund Balance, June 30 $1,390,623 ($11,558,804) ($29,460,229) Components of Ending Fund Balance Nonspendable 9710-9719 $2,020,440 $2,020,440 $2,020,440 Restricted 9740 $0 $0 $0 Committed Stabilization Arrangements 9750 $0 $0 $0 Other Commitments 9760 $0 $0 $0 Assigned 9780 $0 $0 $0 Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 $0 $0 $0 Unassigned/Unappropriated 9790 ($629,817) ($13,579,244) ($31,480,669) Source: FCMAT’s MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Restricted General Fund Categorical programs and grant funds are restricted for specific activities. FCMAT analyzed all general fund sources and expenditures by resource. Based on current assumptions, the district is projected to end 2025-26 with a restricted balance of $20.9 million, which includes funding for the restricted programs listed below in the components of ending fund balance section of Table 11. The MYFP projects the balance will decline to $19.5 million in 2026-27 and $18.5 million in 2027-28. FCMAT did not remove expenditures for expiring resources unless documents or interviews confirmed they were one-time costs. Table 11 summarizes FCMAT’s analysis of the restricted general fund resources for 2025-26 and the two subsequent fiscal years. Table 11. FCMAT Restricted General Fund Summary, 2025-26 — 2027-28 Adjusted Base Year Year 1 Year 2 Description Object Code 2025-26 2026-27 2027-28 A. Revenues LCFF Sources 8010-8099 $0 $0 $0 Federal Revenue 8100-8299 $7,490,621 $6,982,627 $6,846,430 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 26 Findings and Recommendations Multiyear Financial Projection Analysis Adjusted Base Year Year 1 Year 2 Description Object Code 2025-26 2026-27 2027-28 Other State Revenues 8300-8599 $71,590,814 $58,490,912 $58,718,514 Other Local Revenues 8600-8799 $24,112,771 $22,309,495 $22,309,495 Other Financing Sources - Transfers In 8900-8929 $0 $0 $0 Contributions 8980-8999 $73,758,557 $75,217,657 $77,907,459 Total, Revenue $176,952,763 $163,000,691 $165,781,898 B. Expenditures Certificated Salaries 1000-1999 $39,580,644 $37,466,438 $37,840,988 Classified Salaries 2000-2999 $31,300,829 $31,613,300 $31,928,896 Employee Benefits 3000-3999 $50,728,483 $51,479,327 $53,298,667 Books and Supplies 4000-4999 $8,277,130 $6,380,248 $6,084,066 Services and Other Operating Expenditures 5000-5999 $50,735,504 $31,922,131 $32,063,011 Capital Outlay 6000-6999 $705,475 $431,000 $431,000 7100-7299 Other Outgo (excluding Transfers of Indirect Costs) 7400-7499 $704,146 $704,146 $704,146 Other Outgo - Transfers of Indirect Costs 7300-7399 $5,347,775 $4,357,895 $4,442,720 Other Financing Uses - Transfers Out 7600-7629 $0 $0 $0 Total, Expenditures $187,379,985 $164,354,486 $166,793,494 C. Net Increase/Decrease in Fund Balance ($10,427,222) ($1,353,795) ($1,011,596) D. Fund Balance Beginning Fund Balance, July 1 9791 $31,281,557 $20,854,335 $19,500,541 Audit Adjustments / Other Restatements 9793, 9795 $0 $0 $0 Adjusted Beginning Balance $31,281,557 $20,854,335 $19,500,541 Ending Fund Balance, June 30 $20,854,335 $19,500,541 $18,488,945 Components of Ending Fund Balance Nonspendable 9710-9719 $0 $0 $0 Restricted Expanded Learning Opportunities Program 9740 $2,700,831 $2,593,628 $2,439,707 Arts and Music in Schools—Proposition 28 9740 $4,049,625 $4,547,178 $4,900,200 Learning Recovery Emergency Block Grant 9740 $577,482 $0 $0 Restricted Maintenance Account 9740 $4,648,586 $2,936,815 $1,181,008 Other Restricted Local 9740 $8,877,812 $9,422,921 $9,968,030 Committed Stabilization Arrangements 9750 $0 $0 $0 Other Commitments 9760 $0 $0 $0 Assigned 9780 $0 $0 $0 Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 $0 $0 $0 Unassigned/Unappropriated 9790 $0 $0 $0 Source: FCMAT MYFP. Note Minor discrepancies in reported figures are the result of rounding applied during calculations. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 27 Findings and Recommendations Multiyear Financial Projection Analysis Combined General Fund Table 12 provides FCMAT’s analysis of the district’s combined general fund resources for 2025-26 and the two subsequent fiscal years. Table 12. FCMAT Combined General Fund Summary, 2025-26 — 2027-28 Adjusted Object Base Year Year 1 Year 2 Description Code 2025-26 2026-27 2027-28 A. Revenues LCFF Sources 8010-8099 $335,727,825 $340,217,432 $344,095,025 Federal Revenue 8100-8299 $7,490,621 $6,982,627 $6,846,430 Other State Revenues 8300-8599 $84,438,716 $71,618,458 $72,022,636 Other Local Revenues 8600-8799 $36,771,290 $34,930,681 $34,941,348 Other Financing Sources - Transfers In 8900-8929 $0 $0 $0 Contributions 8980-8999 $0 $0 $0 Total, Revenue $464,428,452 $453,749,198 $457,905,439 B. Expenditures Certificated Salaries 1000-1999 $188,472,614 $186,673,072 $188,399,076 Classified Salaries 2000-2999 $69,763,951 $70,461,053 $71,165,127 Employee Benefits 3000-3999 $136,195,383 $141,603,443 $148,257,471 Books and Supplies 4000-4999 $11,754,131 $9,930,964 $9,707,887 Services and Other Operating Expenditures 5000-5999 $65,351,345 $56,224,423 $57,551,397 Capital Outlay 6000-6999 $788,275 $513,800 $513,800 7100-7299 Other Outgo (excluding Transfers of Indirect Costs) 7400-7499 $704,146 $704,146 $704,146 Other Outgo - Transfers of Indirect Costs 7300-7399 ($476,215) ($426,289) ($426,289) Other Financing Uses - Transfers Out 7600-7629 $2,367,808 $2,367,808 $945,845 Total, Expenditures $474,921,438 $468,052,420 $476,818,459 C. Net Increase (Decrease) in Fund Balance ($10,492,986) ($14,303,222) ($18,913,020) D. Fund Balance Beginning Fund Balance, July 1 9791 $32,737,944 $22,244,958 $7,941,736 Audit Adjustments / Other Restatements 9793, 9795 $0 $0 $0 Adjusted Beginning Balance $32,737,944 $22,244,958 $7,941,736 Ending Fund Balance, June 30 $22,244,958 $7,941,736 ($10,971,284) Components of Ending Fund Balance Nonspendable 9710-9719 $2,020,440 $2,020,440 $2,020,440 Restricted 9740 $20,854,335 $19,500,541 $18,488,945 Committed Stabilization Arrangements 9750 $0 $0 $0 Other Commitments 9760 $0 $0 $0 Assigned 9780 $0 $0 $0 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 28 Findings and Recommendations Multiyear Financial Projection Analysis Adjusted Object Base Year Year 1 Year 2 Description Code 2025-26 2026-27 2027-28 Unassigned/Unappropriated Reserve for Economic Uncertainties 9789 $0 $0 $0 Unassigned/Unappropriated 9790 ($629,817) ($13,579,244) ($31,480,669) Source: FCMAT MYFP. Note: Minor discrepancies in reported figures are the result of rounding applied during calculations. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 29 Findings and Recommendations Reserves and Unrestricted General Fund Balance Reserves and Unrestricted General Fund Balance Fiscal Reserve Policy On September 16, 2025, the district adopted Board Policy 3100.1 — Fiscal Reserve Policy, which establishes a framework to provide financial stability, guard against midyear service disruptions, and maintain sufficient liquidity to meet its financial obligations. The policy also supports sustaining a strong credit rating and miti- gating the impact of unexpected revenue shortfalls or significant one-time expenditures. The policy sets a minimum reserve target of 7% of annual combined general fund expenditures and other financing uses, comprised of the following: 3% reserve for economic uncertainty matching the state-required minimum, and 4% strategic reserve for economic uncertainty intended to provide additional flexibility and stability. This reserve will be achieved incrementally by increasing the balance in Fund 17, with progress reported annually to the board. The uncertainty surrounding the district’s reliance on donations, declining enrollment and increasing contributions from the unrestricted general fund to special education underscores the need for a policy to maintain reserves higher than the state’s minimum requirement. Reserve Levels Fund 17 contributes significantly to the district’s overall reserve position, and FCMAT has included these funds when calculating total available reserves. FCMAT’s MYFP projects that the district’s total reserves will fall below the 3% minimum requirement to 1.13% in 2026-27 and decline further to negative 2.55% in 2027- 28. This forecast indicates that even with Fund 17 included, the district does not have sufficient reserves to sustain ongoing deficit spending beyond one year, creating a heightened risk of cash insolvency without corrective action. Table 13 shows statewide average unrestricted general fund ending balances, including Fund 17, for uni- fied school districts for 2021-22 through 2023-24 (the most recent data available) as a measure of reserve levels. The district’s reserves were significantly below the statewide average from 2021-22 through 2023-24. Table 13. District and Statewide Average Reserves, 2021-22 — 2023-24 Unrestricted Ending General Fund Balance 2021-22 2022-23 2023-24 San Ramon Valley Unified School District 9.28% 9.64% 7.64% Statewide Average for Unified School Districts 22.19% 23.74% 24.36% Difference (12.91%) (14.10%) (16.72%) Sources: SSC and FCMAT. Note: The figures include the unrestricted general fund ending balance plus Fund 17 and are expressed as a percentage of total general fund expenditures, transfers and other uses. The district ended 2024-25 with a 4.18% reserve (i.e., unrestricted general fund ending balance plus Fund 17 balance) and is projected to finish 2025-26 at 4.17%, well below its policy target. FCMAT’s MYFP shows a continuing unrestricted general fund structural deficit totaling $17.9 million by 2027-28, which would erode reserves within one year. Unanticipated revenue losses or unplanned costs would worsen this outlook. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 30 Findings and Recommendations Reserves and Unrestricted General Fund Balance Without new revenues or further expenditure reductions, the district may deplete cash and face insolvency by 2027-28. Recommendations The district should: 1. Monitor its budget closely and update projections at the first interim, incorporating actuals through October 31, 2025, and adjustments for enrollment and staffing. 2. Revise its fiscal stabilization plan as soon as possible, including savings expected from its recently approved SERP, as well as a timeline for implementation to eliminate any structural deficit identified, maintain a positive general fund balance, and restore reserves to comply with the board’s 7% policy. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 31 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions Other Funds, Revenue Increases and Expenditure Reductions Other Funds FCMAT reviewed all the district’s other funds to identify and assess any potential fiscal impact on the unre- stricted general fund. Significant and related observations are discussed below. Student Activity Special Revenue Fund (Fund 08) School districts use Fund 08 to account for associated student body (ASB) activities that do not meet the fiduciary3 criteria under GASB Statement 84 and are classified as governmental activities. The district’s 2024-25 unaudited actuals report $4.8 million in revenues and $5.4 million in expenditures, reducing the fund balance from $2.0 million to $1.4 million as of June 30, 2025. This amount is the begin- ning balance for 2025-26, but the adopted budget includes no revenues or expenditures for the year. Using Fund 08 is optional; districts may also record nonfiduciary ASB activities in the general fund. The district uses both methods, Fund 08 and a locally defined resource in its unrestricted general fund. While permissible, splitting ASB activity between two funds can cause inconsistent reporting, make it harder to track total ASB resources and create confusion when reviewing financial statements. Cafeteria Special Revenue Fund (Fund 13) School districts use Fund 13 to account for food service programs. Districts may charge the fund the lesser of their respective CDE-approved indirect cost rate or the program’s statewide average rate for that year. The district’s 2024-25 unaudited actuals show a surplus of $1.1 million in Fund 13, while its 2025-26 adopted budget projects a deficit of $830,639. The 2024-25 unaudited actuals indicate the district did not charge indirect costs to the food service program, and the 2025-26 adopted budget also excludes these transfers. As noted earlier, FCMAT’s MYFP includes indirect cost transfers from Fund 13 to the general fund in all pro- jection years. Including allowable indirect costs reimburses the unrestricted general fund for administrative costs and reflects the program’s full operating cost. Special Reserve Fund for Other than Capital Outlay Projects (Fund 17) School districts use Fund 17 to accumulate resources for expenses other than capital outlay. In audited financial statements, this fund is combined with the general fund. Before expenditures can be made, funds must be transferred from this reserve to the general fund or another appropriate fund, as required by EC 42842. The district’s 2024-25 unaudited actuals show a Fund 17 balance of $18.5 million. For 2025-26, the adopted budget projects $400,000 in interest earnings. To maintain a positive unrestricted general fund balance, the district’s MYFP includes transfers from Fund 17 in 2026-27 and 2027-28, indicating the fund 3 Fiduciary refers to those activities where the district hold funds in trust for others and does not have control over how they are spent. Statement 84, issued by the Governmental Accounting Standards Board (GASB), is a government accounting standard that defines how fiduciary activities should be reported. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 32 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions plays a critical role in balancing the budget and mitigating the district’s structural deficit. FCMAT removed these transfers from its MYFP and counted the Fund 17 balance toward the district’s reserve for economic uncertainties. Building Fund (Fund 21) School districts use Fund 21 to account for proceeds from the sale of facilities bonds, which must be spent on voter-approved projects. District documents and staff interviews indicate Fund 21 has sufficient resources to complete projects in progress at the time of FCMAT’s fieldwork. Capital Facilities Fund (Fund 25) Fund 25 accounts for developer fees collected under EC 17620 through 17626 and GC 65995, along with interest earnings. These funds are restricted for facility development and other uses specified in agree- ments with developers. In 2024-25, the district reported a $3.3 million surplus in Fund 25, and the 2025-26 adopted budget proj- ects to add $2.1 million to the ending fund balance, which is expected to exceed $20.2 million by the end of 2025-26. EC 17620(a)(5) allows districts to receive administration costs for collecting developer fees by transferring up to 3% of fees collected in a fiscal year to the unrestricted general fund. The district does not make this transfer. Special Reserve Fund for Capital Outlay Projects (Fund 40) Districts use Fund 40 to accumulate general funds for capital outlay purposes, as authorized by EC 42840. This fund may also account for revenue sources not restricted to other capital project funds, such as pro- ceeds from the sale or lease-with-option-to-purchase of real property, rental income, and leases approved by the board. Revenue sources include federal, state and local funding, interest earnings, and other autho- rized interfund transfers. Expenditures from Fund 40 are restricted to capital outlay purposes, including property maintenance, ren- ovations and school improvements, typically classified under object 6000 codes. Salaries for employees directly involved in Fund 40 projects may also be capitalized as part of project costs. In addition to other facilities priorities, the district uses Fund 40 to pay debt service obligations related to a 2010 Qualified School Construction Bond and a 2015 lease financing agreement for solar and security projects. Although these payments are made from Fund 40, the district annually transfers funds from the unrestricted general fund to support them. However, the transfer amount has been less than the annual debt service, leaving Fund 40 to cover the difference. The total debt service payment for 2024-25 was $3.2 million, with 2025-26 estimated at $3.1 million. A por- tion of the solar-related debt is expected to be fully repaid in 2026-27, which will reduce future debt service requirements. As of the 2024-25 unaudited actuals, Fund 40 had a balance of close to $11.0 million, which provides some capacity to absorb these costs but limits its availability for other capital projects. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 33 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions Self-Insurance Fund (Fund 67) Districts use Fund 67 to account for revenues and expenditures related to self-insurance activities, such as workers’ compensation, health and welfare benefits, and property loss coverage. Revenues typi- cally include in-district contributions, interagency revenues, interest earnings and other local sources. Expenditures from this fund include claim payments, incurred but not reported liabilities, excess insurance premiums, administrative costs and other related expenses. These funds are restricted for insurance pur- poses and must be used in accordance with EC 17566 and GC 53205. The district uses Fund 67 to self-insure dental and vision coverage, with employer contributions depos- ited and paid from this fund. It also covers property and liability claims under $50,000. The fund shows no unfunded or contingent liabilities, and its balance as of June 30, 2025, of $4.3 million appears sufficient to meet actuarial requirements. EC 17566 requires an actuarial evaluation every three years. The most recent report was dated January 2023 for the 2021-22 plan year; therefore, the district’s next report is due by January 2026. Based on cur- rent information, Fund 67 appears fiscally stable. However, if future actuarial evaluations identify additional liabilities or reserve shortfalls, the unrestricted general fund would need to provide additional contributions. Recommendations The district should: 1. Consolidate ASB activity into a single fund, either Fund 08 or the general fund, to improve transparency and reduce the risk of reporting errors. 2. Review and update the 2025-26 budget to include realistic revenues and expenses for ASB activities in Fund 08 if the district maintains this fund. 3. Begin charging indirect costs to Fund 13 at the lesser of the district’s CDE-approved rate or the statewide average rate to reimburse the unrestricted general fund for administrative activities. 4. Implement transfers of up to 3% of developer fees collected annually to the unrestricted general fund for administrative cost recovery, as allowed by EC 17620. 5. Continue monitoring and projecting revenues and expenditures for all other funds throughout the year. 6. Continue to ensure that the financial impact of all other funds on the unrestricted general fund for the current and two subsequent years is included in the MYFP. Revenue Increases Maximizing Funding Through Attendance and Data Accuracy Districtwide Attendance Practices and Support Systems School districts continue to face financial challenges from declining enrollment and reduced student atten- dance. While many are still recovering from COVID-19-related disruptions, ongoing enrollment declines further reduce LCFF revenue. Addressing these risks requires monitoring attendance and implementing Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 34 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions strategies to improve daily participation and reduce chronic absenteeism. Effective practices include timely absence notifications, incentives, parent education and districtwide campaigns with clear goals and prog- ress updates shared through school and board channels. The CDE publishes several strategies for atten- dance improvement on its website. Districts may also attract new students by promoting their educational programs and strengths. The district maintains a high attendance capture rate (i.e., ADA-to-enrollment ratio) and implements an annual “Attendance Matters” campaign to reinforce the importance of regular school attendance. The district’s attendance coordinator, a social worker, works closely with school sites to monitor attendance and provide targeted support. The district reports having clear policies and procedures to guide School Attendance Review Teams at the site level and to manage truancy cases through the School Attendance Review Board, ensuring a structured approach to early intervention and escalation. Leveraging Attendance Data for Calendar Planning Analyzing historical attendance data can help identify periods during the school year with lower atten- dance trends. When developing the annual school calendar, many districts consider how midweek holi- days, religious and cultural observances, staff development days, and other events may affect subsequent absences. The district negotiates the school calendar annually with labor partners but reports it has not historically used attendance data to inform calendar decisions. Short-Term Independent Study as an Attendance Recovery Tool Offering short-term independent study allows districts to recover attendance that would otherwise be lost due to student absences. Senate Bill 153 (Chapter 38, Statutes of 2024) repealed the previous three-day minimum duration for claiming ADA for independent study. Under the new law, districts may now claim ADA for any duration of independent study. Written agreements for short-term independent study, 15 or fewer days, may be signed at any time during the school year. The district reports having sufficient policies and procedures in place to capture attendance through short-term independent study. Improving Student Data Accuracy for LCFF Funding Accurate identification and reporting of students eligible for free or reduced-price meals, English learn- ers, and foster youth are critical for maximizing LCFF supplemental and concentration grant funding. Because UPC directly impacts LCFF allocations, departments and school sites must carefully review CALPADS data for accuracy before submission to the state. Although departments and schools correct CALPADS system-generated errors, the district lacks a consistent, documented process to ensure all sites verify their data. The district reports it is developing a formal procedure to address data quality assurance and support timely, accurate report submissions. In 2022-23, the state implemented the Universal Meals Program, requiring districts to provide two free meals per day to all students, regardless of income. This change reduced the incentive for families to submit free and reduced-price meal applications, which remain necessary for determining federal meal reimbursement eligibility and contribute to LCFF funding levels. To reduce the impact of lower application rates, districts are encouraged to promote the completion of an alternate income form, which is simpler than the standard meal application. The CDE provides sample forms that can be used in place of, or along- side, federal meal applications to determine student eligibility. Although the district promotes completing the form, participation may increase if families understand how the information affects school funding and student services. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 35 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions Maximizing Indirect Cost Recovery All programs incur general management expenses, commonly called indirect costs, which include admin- istrative activities such as accounting, budgeting, payroll, personnel services, purchasing and central data processing. An indirect cost rate allows LEAs to recover a portion of these costs from restricted programs in a consistent and efficient way. The CDE establishes the rates districts can charge to each program. An LEA may apply up to its estab- lished rate unless program requirements impose limits. Charging the maximum allowable rate promotes equity across departments, ensures general management costs are adequately supported and provides a complete picture of program costs. LEAs often do not charge indirect costs to programs that receive contributions from the unrestricted gen- eral fund, such as special education. However, applying the allowable rate in these cases is still important to accurately reflect the full cost of the program. Not applying the rate understates program costs and reduces reimbursements to the unrestricted general fund, masking the true cost of operations. FCMAT’s review of the district’s indirect cost charges for 2023-24 through 2025-26 found that while the district collected indirect costs from many programs, it did not charge the full allowable rate to numerous federal, state, and local resources. Notable examples include special education, title programs and Fund 13. FCMAT identified underapplied or uncharged indirect costs totaling an estimated $4.3 million in 2025-26, including close to $475,000 for Child Nutrition. Developer Fees—Administrative Cost Recovery Education Code 17620(a)(5) allows school districts to recover administrative costs for collecting developer fees by transferring up to 3% of fees collected in a fiscal year to the unrestricted general fund. The district does not make this transfer. Not recovering these costs shifts the burden to the unrestricted general fund instead of Fund 25. Recommendations The district should: 1. Continue promoting its educational strengths and course offerings to families and the community while exploring strategies to increase enrollment. 2. Ensure departments and schools verify CALPADS data and correct any errors before reporting deadlines. 3. Implement strategies to maximize attendance and UPC. 4. Charge each restricted resource and eligible fund the full allowable indirect cost rate, even if it results in a contribution from the unrestricted general fund. 5. Transfer the allowable 3% administrative fee on developer fees to the unrestricted general fund. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 36 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions Expenditure Reductions Facility Utilization Cost Pressures The district is experiencing ongoing enrollment declines and demographic shifts that have led to underuti- lization of some facilities. Several elementary and middle schools are operating at or below 70 percent of capacity, which raises concerns about fiscal efficiency and the ability to sustain programs across campuses. Since 2017-18, the district has lost more than 12 percent of its enrollment. Projections indicate this downward trend will continue, driven by lower birth rates and housing affordability challenges. These demographic factors suggest that underutilization will persist without significant changes to facility planning. Maintaining excess space increases per-student operating costs because fixed expenses, such as utilities, custodial services, and administrative costs, remain regardless of enrollment. This inefficiency reduces fiscal flexibility and limits the district’s ability to redirect funds toward instructional priorities. Additionally, as buildings and systems age, maintenance and modernization costs escalate, further straining resources. Deferred maintenance can lead to safety risks and higher long-term costs if critical systems fail. If enrollment continues to decline, revenues will decrease, exacerbating the mismatch between facility capacity and student population. Underutilization also impacts program delivery, as schools with low enrollment may struggle to offer robust academic and extracurricular options, which can affect student experience and community perception. Evaluating facility use and aligning capacity with enrollment trends is essential to ensure efficient operations and long-term fiscal sustainability. Health and Welfare Benefits—Eligibility and Cost Management Verifying benefit eligibility for all active and retired employees at least every five years is considered the best practice. The district has not completed a full eligibility review for employees and dependents within the past five years. Districts often find during these reviews that they are paying benefits for individuals who no longer qualify. Conducting this verification could reduce ongoing general fund expenditures. In addition to eligibility concerns, the district faces significant and escalating health premium costs that are difficult to sustain long term. Kaiser health plan premiums, which the district fully covers for full-time employees under its collective bargaining agreements, have averaged annual increases of more than 8% since 2022, with a 15.94% increase for the 2026 plan year. The soft cap introduces uncertainty into the dis- trict’s financial projections, and the increases pose a risk to fiscal stability. Districts with fixed or hard caps on employer contributions have greater financial certainty because these caps limit exposure to unpredictable premium increases. A fixed cap, which would require negotiated agreement with the district’s labor partners, provides a clearer basis for projecting future costs. Districts manage these risks through health benefits committees that meet regularly to review benefit data, evaluate plan options and analyze changes to contain costs. Recommendations The district should: 1. Conduct a comprehensive facility utilization analysis to identify schools operating significantly below capacity and evaluate options for optimizing space. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 37 Findings and Recommendations Other Funds, Revenue Increases and Expenditure Reductions 2. Explore campus consolidation scenarios where feasible to reduce excess space and associated operating costs. 3. Assess opportunities to repurpose underutilized facilities for alternative educational programs. 4. Investigate shared-use agreements with community organizations to maximize facility utilization and offset costs. 5. Review and prioritize maintenance and modernization plans based on enrollment trends, facility condition and long-term fiscal impact. 6. Perform a benefit verification and eligibility audit for all active and retired employees and dependents at least every five years. 7. Evaluate strategies to contain health care cost increases, such as implementing a fixed employer contribution cap and leveraging a health benefits committee to identify cost containment measures. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 38 Appendices Appendices Appendix A — District’s 2025-26 Adopted Budget Multiyear Financial Projection Appendix B — Study Agreement Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 39 Appendices Appendix A — District’s 2025-26 Adopted Budget Multiyear Financial Projection Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Unrestricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) (Enter projections for subsequent years 1 and 2 in Columns C and E; current year - Column A - is extracted) A. REVENUES AND OTHER FINANCING SOURCES 1. LCFF Sources 8010-8099 333,428,493.00 1.16% 337,287,174.00 0.90% 340,310,865.00 2. Federal Revenues 8100-8299 0.00 0.00% 0.00 0.00% 0.00 3. Other State Revenues 8300-8599 12,094,823.00 0.08% 12,104,993.77 0.46% 12,160,148.38 4. Other Local Revenues 8600-8799 12,541,993.00 0.04% 12,547,256.20 -0.17% 12,526,203.87 5. Other Financing Sources a. Transfers In 8900-8929 0.00 0.00% 1,500,000.00 113.33% 3,200,000.00 b. Other Sources 8930-8979 0.00 0.00% 0.00 0.00% 0.00 c. Contributions 8980-8999 (68,995,648.00) 0.72% (69,495,666.09) 1.61% (70,612,271.23) 6. Total (Sum lines A1 thru A5c) 289,069,661.00 1.69% 293,943,757.88 1.24% 297,584,946.02 B. EXPENDITURES AND OTHER FINANCING USES 1. Certificated Salaries a. Base Salaries 143,777,598.00 144,808,380.01 b. Step & Column Adjustment 1,414,329.01 1,423,537.13 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments (383,547.00) (1,991,595.00) e. Total Certificated Salaries (Sum 1000-1999 lines B1a thru B1d) 143,777,598.00 0.72% 144,808,380.01 -0.39% 144,240,322.14 2. Classified Salaries a. Base Salaries 38,181,985.00 38,595,903.85 b. Step & Column Adjustment 381,819.85 385,959.05 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments 32,099.00 140,940.00 e. Total Classified Salaries (Sum 2000-2999 lines B2a thru B2d) 38,181,985.00 1.08% 38,595,903.85 1.37% 39,122,802.90 3. Employee Benefits 3000-3999 81,997,907.00 4.03% 85,302,970.76 3.87% 88,606,803.89 4. Books and Supplies 4000-4999 3,485,567.00 -5.63% 3,289,436.90 2.77% 3,380,554.29 5. Services and Other Operating 5000-5999 Expenditures 20,523,302.00 2.19% 20,972,762.77 5.65% 22,157,119.27 6. Capital Outlay 6000-6999 0.00 0.00% 0.00 0.00% 0.00 7. Other Outgo (excluding Transfers 7100-7299, 7400-7499 of Indirect Costs) 0.00 0.00% 0.00 0.00% 0.00 8. Other Outgo - Transfers of 7300-7399 Indirect Costs (1,030,303.00) -12.34% (903,171.20) 2.28% (923,785.90) 9. Other Financing Uses a. Transfers Out 7600-7629 2,367,808.00 0.00% 2,367,808.00 -60.05% 945,845.00 b. Other Uses 7630-7699 0.00 0.00% 0.00 0.00% 0.00 10. Other Adjustments (Explain in Section F below) 0.00 0.00 11. Total (Sum lines B1 thru B10) 289,303,864.00 1.77% 294,434,091.09 1.05% 297,529,661.59 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 40 California Dept of Education SACS Financial Reporting Software - SACS V12 File: MYP, Version 8 Page 1 Printed: 6/10/2025 8:14 PM Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Unrestricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) C. NET INCREASE (DECREASE) IN FUND BALANCE (Line A6 minus line B11) (234,203.00) (490,333.21) 55,284.43 D. FUND BALANCE 1. Net Beginning Fund Balance (Form 01, line F1e) 1,101,599.21 867,396.21 377,063.00 2. Ending Fund Balance (Sum lines C and D1) 867,396.21 377,063.00 432,347.43 3. Components of Ending Fund Balance a. Nonspendable 9710-9719 365,552.00 365,552.00 365,552.00 b. Restricted 9740 c. Committed 1. Stabilization Arrangements 9750 0.00 0.00 0.00 2. Other Commitments 9760 0.00 0.00 0.00 d. Assigned 9780 501,844.21 11,511.00 66,795.43 e. Unassigned/Unappropriated 1. Reserve for Economic 9789 Uncertainties 0.00 0.00 0.00 2. Unassigned/Unappropriated 9790 0.00 0.00 0.00 f. Total Components of Ending Fund Balance (Line D3f must agree with line D2) 867,396.21 377,063.00 432,347.43 E. AVAILABLE RESERVES 1. General Fund a. Stabilization Arrangements 9750 0.00 0.00 0.00 b. Reserve for Economic 9789 Uncertainties 0.00 0.00 0.00 c. Unassigned/Unappropriated 9790 0.00 0.00 0.00 (Enter reserve projections for subsequent years 1 and 2 in Columns C and E; current year - Column A - is extracted.) 2. Special Reserve Fund - Noncapital Outlay (Fund 17) a. Stabilization Arrangements 9750 0.00 0.00 b. Reserve for Economic 9789 Uncertainties 13,456,427.00 13,532,099.00 13,672,485.00 c. Unassigned/Unappropriated 9790 0.00 3. Total Available Reserves (Sum lines E1a thru E2c) 13,456,427.00 13,532,099.00 13,672,485.00 F. ASSUMPTIONS Please provide below or on a separate attachment, the assumptions used to determine the projections for the first and second subsequent fiscal years. Further, please include an explanation for any significant expenditure adjustments projected in lines B1d, B2d, and B10. For additional information, please refer to the Budget Assumptions section of the SACS Financial Reporting Software User Guide. See Attached California Dept of Education FiSsAcaClS C Friinsaisn caianld R Mepaonrtiangg eSmofetwnat rAe s- sSiAstCaSn cVe1 2Team San Ramon Valley Unified School District 41 File: MYP, Version 8 Page 2 Printed: 6/10/2025 8:14 PM Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Restricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) (Enter projections for subsequent years 1 and 2 in Columns C and E; current year - Column A - is extracted) A. REVENUES AND OTHER FINANCING SOURCES 1. LCFF Sources 8010-8099 0.00 0.00% 0.00 0.00% 0.00 2. Federal Revenues 8100-8299 7,268,460.00 0.00% 7,268,460.00 0.00% 7,268,460.00 3. Other State Revenues 8300-8599 55,542,158.00 1.38% 56,307,000.00 1.98% 57,419,428.40 4. Other Local Revenues 8600-8799 21,637,345.00 0.00% 21,637,345.00 0.00% 21,637,345.00 5. Other Financing Sources a. Transfers In 8900-8929 0.00 0.00% 0.00 0.00% 0.00 b. Other Sources 8930-8979 0.00 0.00% 0.00 0.00% 0.00 c. Contributions 8980-8999 68,995,648.00 0.72% 69,495,666.09 1.61% 70,612,271.23 6. Total (Sum lines A1 thru A5c) 153,443,611.00 0.82% 154,708,471.09 1.44% 156,937,504.63 B. EXPENDITURES AND OTHER FINANCING USES 1. Certificated Salaries a. Base Salaries 40,122,082.00 38,361,816.97 b. Step & Column Adjustment 379,819.97 378,987.43 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments (2,140,085.00) (463,073.89) e. Total Certificated Salaries (Sum 1000-1999 lines B1a thru B1d) 40,122,082.00 -4.39% 38,361,816.97 -0.22% 38,277,730.51 2. Classified Salaries a. Base Salaries 33,618,520.00 33,922,285.21 b. Step & Column Adjustment 331,760.21 337,813.45 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments (27,995.00) (140,940.45) e. Total Classified Salaries (Sum 2000-2999 lines B2a thru B2d) 33,618,520.00 0.90% 33,922,285.21 0.58% 34,119,158.21 3. Employee Benefits 3000-3999 50,674,111.00 0.76% 51,060,712.38 2.36% 52,263,669.85 4. Books and Supplies 4000-4999 7,455,287.00 -11.50% 6,597,775.38 2.51% 6,763,532.62 5. Services and Other Operating 5000-5999 Expenditures 25,538,067.00 -2.17% 24,984,800.30 0.33% 25,066,645.98 6. Capital Outlay 6000-6999 101,150.00 0.00% 101,150.00 0.00% 101,150.00 7. Other Outgo (excluding Transfers 7100-7299, 7400-7499 of Indirect Costs) 704,146.00 0.00% 704,146.00 0.00% 704,146.00 8. Other Outgo - Transfers of 7300-7399 Indirect Costs 1,030,303.00 -12.34% 903,171.20 2.28% 923,785.90 9. Other Financing Uses a. Transfers Out 7600-7629 0.00 0.00% 0.00 0.00% 0.00 b. Other Uses 7630-7699 0.00 0.00% 0.00 0.00% 0.00 10. Other Adjustments (Explain in Section F below) 0.00 0.00 11. Total (Sum lines B1 thru B10) 159,243,666.00 -1.64% 156,635,857.44 1.01% 158,219,819.07 C. NET INCREASE (DECREASE) IN FUND BALANCE (Line A6 minus line B11) (5,800,055.00) (1,927,386.35) (1,282,314.44) California Dept of Education SACS Financial Reporting Software - SACS V12 Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 42 File: MYP, Version 8 Page 3 Printed: 6/10/2025 8:14 PM Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Restricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) D. FUND BALANCE 1. Net Beginning Fund Balance (Form 01, line F1e) 17,277,134.08 11,477,079.08 9,549,692.73 2. Ending Fund Balance (Sum lines C and D1) 11,477,079.08 9,549,692.73 8,267,378.29 3. Components of Ending Fund Balance a. Nonspendable 9710-9719 0.00 0.00 0.00 b. Restricted 9740 11,477,079.53 9,549,692.73 8,267,378.29 c. Committed 1. Stabilization Arrangements 9750 2. Other Commitments 9760 d. Assigned 9780 e. Unassigned/Unappropriated 1. Reserve for Economic 9789 Uncertainties 2. Unassigned/Unappropriated 9790 (.45) 0.00 0.00 f. Total Components of Ending Fund Balance (Line D3f must agree with line D2) 11,477,079.08 9,549,692.73 8,267,378.29 E. AVAILABLE RESERVES 1. General Fund a. Stabilization Arrangements 9750 b. Reserve for Economic 9789 Uncertainties c. Unassigned/Unappropriated 9790 (Enter reserve projections for subsequent years 1 and 2 in Columns C and E; current year - Column A - is extracted.) 2. Special Reserve Fund - Noncapital Outlay (Fund 17) a. Stabilization Arrangements 9750 b. Reserve for Economic 9789 Uncertainties c. Unassigned/Unappropriated 9790 3. Total Available Reserves (Sum lines E1a thru E2c) F. ASSUMPTIONS Please provide below or on a separate attachment, the assumptions used to determine the projections for the first and second subsequent fiscal years. Further, please include an explanation for any significant expenditure adjustments projected in lines B1d, B2d, and B10. For additional information, please refer to the Budget Assumptions section of the SACS Financial Reporting Software User Guide. See Attached California Dept of Education FisScAaCl SC Friisniasn acinadl RMepaonratingge Smoeftnwta Ares -s SisAtCaSn cVe1 2Team San Ramon Valley Unified School District 43 File: MYP, Version 8 Page 4 Printed: 6/10/2025 8:14 PM Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Unrestricted/Restricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) (Enter projections for subsequent years 1 and 2 in Columns C and E; current year - Column A - is extracted) A. REVENUES AND OTHER FINANCING SOURCES 1. LCFF Sources 8010-8099 333,428,493.00 1.16% 337,287,174.00 0.90% 340,310,865.00 2. Federal Revenues 8100-8299 7,268,460.00 0.00% 7,268,460.00 0.00% 7,268,460.00 3. Other State Revenues 8300-8599 67,636,981.00 1.15% 68,411,993.77 1.71% 69,579,576.78 4. Other Local Revenues 8600-8799 34,179,338.00 0.02% 34,184,601.20 -0.06% 34,163,548.87 5. Other Financing Sources a. Transfers In 8900-8929 0.00 0.00% 1,500,000.00 113.33% 3,200,000.00 b. Other Sources 8930-8979 0.00 0.00% 0.00 0.00% 0.00 c. Contributions 8980-8999 0.00 0.00% 0.00 0.00% 0.00 6. Total (Sum lines A1 thru A5c) 442,513,272.00 1.39% 448,652,228.97 1.31% 454,522,450.65 B. EXPENDITURES AND OTHER FINANCING USES 1. Certificated Salaries a. Base Salaries 183,899,680.00 183,170,196.98 b. Step & Column Adjustment 1,794,148.98 1,802,524.56 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments (2,523,632.00) (2,454,668.89) e. Total Certificated Salaries (Sum 1000-1999 lines B1a thru B1d) 183,899,680.00 -0.40% 183,170,196.98 -0.36% 182,518,052.65 2. Classified Salaries a. Base Salaries 71,800,505.00 72,518,189.06 b. Step & Column Adjustment 713,580.06 723,772.50 c. Cost-of-Living Adjustment 0.00 0.00 d. Other Adjustments 4,104.00 (.45) e. Total Classified Salaries (Sum 2000-2999 lines B2a thru B2d) 71,800,505.00 1.00% 72,518,189.06 1.00% 73,241,961.11 3. Employee Benefits 3000-3999 132,672,018.00 2.78% 136,363,683.14 3.30% 140,870,473.74 4. Books and Supplies 4000-4999 10,940,854.00 -9.63% 9,887,212.28 2.60% 10,144,086.91 5. Services and Other Operating 5000-5999 Expenditures 46,061,369.00 -0.23% 45,957,563.07 2.76% 47,223,765.25 6. Capital Outlay 6000-6999 101,150.00 0.00% 101,150.00 0.00% 101,150.00 7. Other Outgo (excluding Transfers 7100-7299, 7400-7499 of Indirect Costs) 704,146.00 0.00% 704,146.00 0.00% 704,146.00 8. Other Outgo - Transfers of 7300-7399 Indirect Costs 0.00 0.00% 0.00 0.00% 0.00 9. Other Financing Uses a. Transfers Out 7600-7629 2,367,808.00 0.00% 2,367,808.00 -60.05% 945,845.00 b. Other Uses 7630-7699 0.00 0.00% 0.00 0.00% 0.00 10. Other Adjustments 0.00 0.00 11. Total (Sum lines B1 thru B10) 448,547,530.00 0.56% 451,069,948.53 1.04% 455,749,480.66 C. NET INCREASE (DECREASE) IN FUND BALANCE (Line A6 minus line B11) (6,034,258.00) (2,417,719.56) (1,227,030.01) California Dept of Education SACS Financial Reporting Software - SACS V12 File: MYP, Version 8 Page 5 Printed: 6/10/2025 8:14 PM Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 44 Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Unrestricted/Restricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) D. FUND BALANCE 1. Net Beginning Fund Balance (Form 01, line F1e) 18,378,733.29 12,344,475.29 9,926,755.73 2. Ending Fund Balance (Sum lines C and D1) 12,344,475.29 9,926,755.73 8,699,725.72 3. Components of Ending Fund Balance a. Nonspendable 9710-9719 365,552.00 365,552.00 365,552.00 b. Restricted 9740 11,477,079.53 9,549,692.73 8,267,378.29 c. Committed 1. Stabilization Arrangements 9750 0.00 0.00 0.00 2. Other Commitments 9760 0.00 0.00 0.00 d. Assigned 9780 501,844.21 11,511.00 66,795.43 e. Unassigned/Unappropriated 1. Reserve for Economic 9789 Uncertainties 0.00 0.00 0.00 2. Unassigned/Unappropriated 9790 (.45) 0.00 0.00 f. Total Components of Ending Fund Balance (Line D3f must agree with line D2) 12,344,475.29 9,926,755.73 8,699,725.72 E. AVAILABLE RESERVES 1. General Fund a. Stabilization Arrangements 9750 0.00 0.00 0.00 b. Reserve for Economic 9789 Uncertainties 0.00 0.00 0.00 c. Unassigned/Unappropriated 9790 0.00 0.00 0.00 d. Negative Restricted Ending Balances (Negative resources 979Z 2000-9999) (.45) 0.00 0.00 2. Special Reserve Fund - Noncapital Outlay (Fund 17) a. Stabilization Arrangements 9750 0.00 0.00 0.00 b. Reserve for Economic 9789 Uncertainties 13,456,427.00 13,532,099.00 13,672,485.00 c. Unassigned/Unappropriated 9790 0.00 0.00 0.00 3. Total Available Reserves - by Amount (Sum lines E1a thru E2c) 13,456,426.55 13,532,099.00 13,672,485.00 4. Total Available Reserves - by Percent (Line E3 divided by Line F3c) 3.00% 3.00% 3.00% F. RECOMMENDED RESERVES 1. Special Education Pass-through Exclusions For districts that serve as the administrative unit (AU) of a special education local plan area (SELPA): a. Do you choose to exclude from the reserve calculation the No pass-through funds distributed to SELPA members? California Dept of Education SACS Financial Reporting Software - SACS V12 File: MYP, Version 8 Page 6 Printed: 6/10/2025 8:14 PM Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 45 Appendices Budget, July 1 San Ramon Valley Unified General Fund 07 61804 0000000 Contra Costa County Multiyear Projections Form MYP Unrestricted/Restricted G8BFJUJ6E1(2025-26) 2025-26 % % 2026-27 Object Budget Change Change 2027-28 Description Projection Codes (Form 01) (Cols. C-A/A) (Cols. E-C/C) Projection (E) (C) (A) (B) (D) b. If you are the SELPA AU and are excluding special education pass-through funds: 1. Enter the name(s) of the SELPA(s): 2. Special education pass- through funds (Column A: Fund 10, resources 3300-3499, 6500- 6540 and 6546, objects 7211-7213 and 7221-7223; enter projections for subsequent years 1 and 2 in Columns C and E) 0.00 0.00 0.00 2. District ADA Used to determine the reserve standard percentage level on line F3d (Col. A: Form A, Estimated P-2 ADA column, Lines A4 and C4; enter projections) 26,624.21 25,908.94 25,192.74 3. Calculating the Reserves a. Expenditures and Other Financing Uses (Line B11) 448,547,530.00 451,069,948.53 455,749,480.66 b. Plus: Special Education Pass- through Funds (Line F1b2, if Line F1a is No) 0.00 0.00 0.00 c. Total Expenditures and Other Financing Uses (Line F3a plus line F3b) 448,547,530.00 451,069,948.53 455,749,480.66 d. Reserve Standard Percentage Level (Refer to Form 01CS, Criterion 10 for calculation details) 3.00% 3.00% 3.00% e. Reserve Standard - By Percent (Line F3c times F3d) 13,456,425.90 13,532,098.46 13,672,484.42 f. Reserve Standard - By Amount (Refer to Form 01CS, Criterion 10 for calculation details) 0.00 0.00 0.00 g. Reserve Standard (Greater of Line F3e or F3f) 13,456,425.90 13,532,098.46 13,672,484.42 h. Available Reserves (Line E3) Meet Reserve Standard (Line F3g) YES YES YES FCisacliafol rCnirais Dise pat nodf EMdaucnaatigoenment Assistance Team San Ramon Valley Unified School District 46 SACS Financial Reporting Software - SACS V12 File: MYP, Version 8 Page 7 Printed: 6/10/2025 8:14 PM Appendices San Ramon Valley USD Form MYP – Adjustments Unrestricted General Fund B1d 2025-26: Adjustments include reductions of $2.45 million for 27.0 certificated FTE due to declining enrollment, partially offset by increases due to the expiration of one-time funding including Educator Effectiveness, Learning Recovery Emergency Block Grant, and Universal Prekindergarten Planning and Implementation Grant. 2026-27: Adjustments include reductions of $2.45 million for 27.0 certificated FTE due to declining enrollment, partially offset by increases due to the expiration of the Learning Recovery Emergency Block Grant. Restricted General Fund B1d 2025-26: Reductions due to the expiration and usage of one-time funds including Educator Effectiveness, Learning Recovery Emergency Block Grant, and Universal Prekindergarten Planning and Implementation Grant, and A-G Learning Loss Mitigation Grant. 2026-27: Reductions due to the expiration of the Learning Recovery Emergency Block Grant. B2d 2025-26: Reductions due to the expiration of CYBHI capacity grant. Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 47 Appendices Appendix B — Study Agreement Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 48 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 49 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 50 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 51 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 52 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 53 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 54 Appendices Digitally signed by Michael H. Fine Michael H. Fine Date: 2025.04.25 13:04:55 -07'00' Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 55 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 56 Appendices Fiscal Crisis and Management Assistance Team San Ramon Valley Unified School District 57