|
|
|
|
|
|
|
|
|
Meeting Date:
|
6/22/2015 - 6:00 PM
|
|
Category:
|
Business/Action Items
|
|
Type:
|
Action
|
|
Subject:
|
16.3 Public Hearing for New Requirement Senate Bill 858, Chapter 32/2014
|
|
LCAP (Local Control Accountability Plan) Goal:
|
Strategic Initiative 5.2 Optimal Operations and Infrastructure Ensure Fiscal stability and accountability through effective stewardship of financial assets and funding sources.
|
|
Enclosure
|
2015/16 Balances in Excess of Minimum Reserve Requirements
|
|
File Attachment:
|
|
|
Summary:
|
Senate Bill (SB)858 (Chapter 32/2014) requires that, starting with the 2015-16 adopted budgets, school districts hold a public hearing to provide information on the amount in the unrestricted General Fund reserve that is above the minimum requirement. Our district's minimum requirement is 2% of the total 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.
|
|
Funding:
|
Not applicable
|
|
Fiscal Impact
:
|
None
|
|
Recommendation:
|
Public Hearing for Senate Bill (SB)858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Nance Juner - Director of Fiscal Services
|
|
|
Signed By:
|
|
|
Dr. Nellie Meyer - Superintendent
|
|
|
|
|
|
|
|
|