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Meeting Date:
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Category:
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Type:
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Subject:
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18.1 Public Hearing for Senate Bill 858: Excess of Minimum Reserve Requirements |
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LCAP (Local Control Accountability Plan) Goal:
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Goal 1: All students will receive a high quality education in a safe and welcoming environment with equitable and high expectations, access to technology, and instruction in the California State Standards that prepare them for college and career.
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Enclosure:
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2022-23 Statement of Reasons for Excess Reserves |
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File Attachment:
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Summary:
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Senate Bill (SB) 858 (Chapter 32/2014) requires that school districts hold a public hearing to provide information on the amount in the unrestricted General Fund expenditures and other financing uses.
The district is committed to maintain a prudent level of financial resources to protect against the need to reduce service levels because of temporary revenue shortfalls of unpredictable expenditures and to maintain a high bond rating. The statement for assigned and unassigned ending fund balances above the state required minimum level is attached. |
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Funding:
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Recommendation
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Move to Approve Public Hearing for Senate Bill (SB) 858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements. |
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Approvals:
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Recommended By: |
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Signed By: |
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Mika Arbelbide - Director of Fiscal Services |
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Signed By: |
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Dr. Lisa Gonzales - Chief Business Officer |
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Signed By: |
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Dr. Adam Clark - Superintendent |
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Vote Results:
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| Original Motion | | Member Linda Mayo Moved, Member Erin McFerrin seconded to approve the Original motion 'The Public Hearing was opened at 8:28pm. No public comments were made and the hearing was closed at 8:28pm. Move to Approve Public Hearing for Senate Bill (SB) 858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion CARRIED 4 - 0 | | | | | Keisha Nzewi | Yes | | Erin McFerrin | Yes | | Linda Mayo | Yes | | Cherise Khaund | Yes | |
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