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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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10.7 Second Interim Financial Report |
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Attachment Summary:
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Reports by Fund, Supplemental Forms, Budget Report |
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File Attachment:
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Quick Summary / Abstract:
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The District's Second Interim Financial Report as of January 31, 2018 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
Interim Financial Report as of October 31, 2017, and the
Second Interim Financial Report as of January 31, 2018. |
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Status: |
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The 2017-2018 Second Interim Report is submitted to our Board for approval. The information provided in the 2017-2018 Second Interim Report accounts for the changes made to the budget between the First Interim Report and the closure of the accounting period of January 31, 2018. The projected budget includes the increase in competitive compensation approved by the Board in December 2017. The multi-year projection is based on the Governor's January proposed budget. The report projects our District will end the year with an ending fund balance of $4,859,495. The District is designating $50,000 for the revolving fund, $150,000 in warehouse inventory, $94,581 as undesignated. and $4,564,914 as a reserve for economic uncertainty. |
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Fiscal Impact: |
The total of projected expenditures for the General Fund Budget as
of the Second Interim are $152,163,753. |
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Superintendent's Recommendation
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Our Superintendent recommends approval of the 2017-2018 Second Interim Financial Report. |
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Approvals:
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Recommended By: |
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Signed By: |
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Susan Kinder - Assistant Superintendent |
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Signed By: |
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Kelly Bowers, Ed.D. - Superintendent |
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Vote Results:
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| Original Motion | | Member Anne White Moved, Member Kate Runyon seconded to approve the Original motion 'Our Superintendent recommends approval of the 2017-2018 Second Interim Financial Report.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 3 Nay: 0. | | The motion Carried 3 - 0 | | | | | Kate Runyon | Yes | | Chuck Rogge | Yes | | Anne White | Yes | |
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