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Meeting Date:
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6/26/2017 - 7:00 PM
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Category:
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Business/Action Items
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Type:
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Action
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Subject:
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18.4 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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Strategic Initiative 5.2 Optimal Operations and Infrastructure Ensure Fiscal stability and accountability through effective stewardship of financial assets and funding sources.
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Enclosure
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2017-18 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 or 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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Not Applicable
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Fiscal Impact
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None
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Recommendation:
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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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Nance Juner - Director of Fiscal Services
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Signed By:
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Dr. Nellie Meyer - Superintendent
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