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Meeting Date:
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9/17/2024 - 7:00 PM
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Category:
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DISCUSSION / ACTION ITEMS
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Type:
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Action
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Subject:
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10.1 Approval of the 2023-2024 Unaudited Actual Financial Reports (Ms. Kayla Wasley)
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Attachment Summary
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Reports by Fund, Supplemental Forms
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File Attachment:
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Quick Summary / Abstract:
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Background:
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By California statue, our District is required to file the Board of Education approved 2023-2024 Unaudited Actual Financial Reports with the Alameda County Office of Education (ACOE) by September 15th. For 2023-24, the District received an extension to file the unaudited actuals report with ACOE by September 18th due to the transition of the Assistant Superintendent of Business Services. This information provides detail for the actual revenue received and expenses incurred from each of our District's funds during the 2023-2024 fiscal year. Additionally, the Unaudited Actual Financial Reports contain the actual ending fund balance that will roll into the current year as the beginning balance. It is important to recognize that any increase or decrease to the beginning balance may impact the 2024-2025 budget.
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Status
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Our District's financial reports are now complete and have been entered into the Standardized Account Code Structure (SACS) software. Upon approval by our Board of Education, they will be submitted to ACOE. Additionally, the reports will be submitted to the District's auditors for review and inclusion into the 2023-2024 annual District audit.
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Fiscal Impact
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The 2023-2024 ending fund balance for the General Fund is
$28,353,567.76 (Unrestricted $15,484,520.78; and Legally Restricted $12,869,046.98). On the unrestricted side, $6,230,004.00 is designated as a 3% reserve for economic uncertainty, $292,004.75 accounts for revolving cash and stores inventory, and $9,052,512.03 is assigned for future projected deficit spending.
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Superintendent's Recommendation:
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Approve the 2023-2024 Unaudited Actual Financial Reports.
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Approvals:
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Recommended By:
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Signed By:
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Kayla Wasley - Assistant Superintendent of Business Services
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Signed By:
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Torie F. Gibson, Ed.D. - Superintendent
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Vote Results:
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| Original Motion | | Member Steven Drouin Moved, Member seconded to approve the Original motion 'Approve the 2023-2024 Unaudited Actual Financial Reports.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 4 Nay: 0. | | The motion Carried 4 - 0 | | | | | Craig Bueno | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | | Steven Drouin | Yes | |
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