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Meeting Date:
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12/13/2016 - 5:30 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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12.5 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, 2016 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, 2016, and the Second Period Interim Financial Report as of January 31, 2017.
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Status
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The First Period Interim Report for 2016-2017 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, 2016. The report projects the District will end the year with an ending fund balance of $7,574,480. The District is designating $50,000 for the revolving fund, $150,000 in estimated warehouse inventory, and $4,145,487 as a reserve for economic uncertainty. This leaves $3,228,993 as undesignated at this time, but may be allocated toward competitive compensation adjustments that are being negotiated and considered.
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Fiscal Impact
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The total projected expenditures for the General Fund Budget as of the First Period Interim are $138,182,877.
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Superintendent's Recommendation:
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Approve the 2016-2017 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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Vote Results:
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| Original Motion | | Member Chuck Rogge Moved, Member Kate Runyon seconded to approve the Original motion 'Approve the 2016-2017 First Period Interim Financial Report.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Kate Runyon | Yes | | Craig Bueno | Yes | | Chuck Rogge | Yes | | Chris Wenzel | Yes | | Anne White | Yes | |
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