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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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13.4 First Period 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 First Period Interim Financial Report as of October 31,
2018 is being presented to the 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, 2018, and the
Second Interim Period Financial Report as of January 31, 2019. |
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Status: |
The First Period Interim Financial Report for 2018-2019 is submitted
to the Board for approval. The information provided in the First
Period Interim Financial Report accounts for the changes made to the budget between the July 1st Adopted Budget and the closure of the accounting period of October 31, 2018. The report projects the District will end the year with an ending fund balance of $5,508,455. The District is designating $50,000 for the revolving fund, $150,000 in estimated warehouse inventory, and $4,826,974 as a 3% reserve for economic uncertainty. This allows $481,481 to be allocated toward future pension liability. |
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Fiscal Impact: |
The total of projected expenditures for the General Fund Budget as
of the First Interim is $160,899,113. |
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Superintendent's Recommendation
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The Superintendent recommends approval of the 2018-2019 First
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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Susan Kinder - Assistant Superintendent |
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Signed By: |
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Kelly Bowers, Ed.D. - Superintendent |
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