The Coronado Unified School District is again on track to become a locally-funded Basic Aid District by the 2027-2028 school year, thanks to approved by the board last month. The agreement, which is essentially a loan, will enable the district to meet the required 3% reserves required by the San Diego County Office of Education.

While the district projected ending the 2024-2025 fiscal year with $11.2 million in available reserves, they ended up with $14.4 million. That’s $3.2 million higher than projected.

Deputy District Superintendent Donnie Salamanca pointed to two main factors that positively impacted the district’s financial position: the capital outlay of funds related to the lease purchase agreement, as well as higher-than-expected insurance reimbursements for the 2024 floods.

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