Cabrillo USD Ends Year With Shrinking Reserves as Fund 40 Runs Dry

The Cabrillo Unified School District board approved year-end financials showing the district spent within fractions of its budget — but the one-time fund that masked structural deficits is now nearly gone. In a packed September session, the board also locked in a contractor for the bond-funded Half Moon Bay High School rebuild, endorsed a statewide tax measure, and heard from its superintendent about expanding preschool to the coast side of town.

• District finishes 2025-26 with $5.88M in combined reserves, but Fund 40 is down to $80K — eliminating the cushion that papered over deficit spending

• Rodan Builders selected as general contractor for multi-phase high school rebuild through a $60K pre-construction services award

• Board unanimously endorses Proposition 3 to make permanent expiring income tax rates that fund schools and healthcare

• Superintendent floats preschool expansion to El Granada Elementary as Los Listos nears capacity with 43 of 45 slots filled

• Two contract agencies hired to fill vacant special education positions at elementary and high school sites, with caseloads near legal limits

• $290,600 approved for electric bus charging infrastructure, roughly half covered by a state grant

The basics: The board unanimously approved the district's 2025-26 unaudited actuals — the final year-end financial snapshot before an independent audit. Unrestricted revenues came in at approximately $38.2M, within 1% of projections, and unrestricted expenditures landed at $31.15M, just $25,000 off the estimate.