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Meeting Date:
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Category:
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DISCUSSION / ACTION ITEMS |
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Type:
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Subject:
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10.2 Approval of The 2022-2023 Second Period Interim Financial Report |
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Attachment Summary:
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File Attachment:
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Quick Summary / Abstract:
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Our District's Second Period Interim Financial Report as of January 31, 2023 is being presented to our Board for approval. |
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Background:
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The California Department of Education requires school districts to submit two certified interim financial reports per fiscal year; the First Period Interim Financial Report as of October 31, 2022, and the Second Interim Period Financial Report as of January 31, 2023. |
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Status: |
Our Second Period Interim Financial Report for 2022-2023 is submitted to our Board for approval. The information provided in this second report accounts for the changes made between the First Period Interim Report and the closure of the accounting period as of January 31, 2023. The report projects that our District will end the year with an ending fund balance of $18,301,902. Of this amount, $11,931,744 is restricted one-time funding allocated for future programs:
Educator Effectiveness $1,452,445
Arts, Music, & Instructional Material Block Grant $4,329,409
Learning Recovery Emergency Block Grant $6,063,175
Expanded Learning Opportunities Grant $ 86,745
Of the unrestricted funds, our District is designating $50,000 for the revolving fund, $150,000 in estimated warehouse inventory, and $6,122,313 as a 3% reserve for economic uncertainty. This leaves $47,815 unappropriated at this time. |
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Fiscal Impact: |
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The total projected expenditures for the General Fund Budget as of the Second Interim is $204,083,280. |
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Superintendent's Recommendation
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Approval of the 2022-2023 Second Period Interim Financial Report. |
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Approvals:
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Recommended By: |
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Signed By: |
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Teresa Fiscus - Assistant Superintendent |
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Signed By: |
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Chris Van Schaack - Superintendent |
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Vote Results:
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| Original Motion | | Member Emily Prusso Moved, Member Steven Drouin seconded to approve the Original motion 'Approval of the 2022-2023 Second Period Interim Financial Report.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Craig Bueno | Yes | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | | Steven Drouin | Yes | |
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