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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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10.4 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, 2019
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, 2018, and the
Second Interim Financial Report as of January 31, 2019. |
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Status: |
The 2018-2019 Second Interim Report is submitted to our Board for
approval. The information provided in the 2018-2019 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, 2019. The multi-year projection is based on the Governor's January proposed budget. The report projects our District will end the fiscal year with a fund balance of $5,378,072. Our District is designating $50,000 for the revolving fund, $150,000 in warehouse inventory and $4,895,666 as a 3% reserve for economic uncertainty. This allows $282,406 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 Second Interim are $163,188,847. |
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Superintendent's Recommendation
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Our Superintendent recommends approval of the 2018-2019 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 Emily Prusso seconded to approve the Original motion 'Our Superintendent recommends approval of the 2018-2019 Second
Interim Financial Report.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Craig Bueno | Yes | | Chuck Rogge | Yes | | Anne White | Yes | | Emily Prusso | Yes | |
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