|
|
|
|
|
|
|
|
|
Meeting Date:
|
3/3/2020 - 7:00 PM
|
|
Category:
|
DISCUSSION / ACTION ITEMS
|
|
Type:
|
Action
|
|
Subject:
|
10.6 Second Interim Financial Report
|
|
:
|
|
|
Attachment Summary
|
Reports by Fund, Supplemental Forms, Budget Report
|
|
File Attachment:
|
|
|
Quick Summary / Abstract:
|
Our District's Second Interim Financial Report as of January 31, 2020
is being presented to our Board for approval.
|
|
Background:
|
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, 2019, and the
Second Interim Financial Report as of January 31, 2020.
|
|
Status
:
|
The 2019-2020 Second Interim Report is submitted to our Board for
approval. The information provided in the 2019-2020 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, 2020. 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 $5,342,574. Our
District is designating $50,000 for the revolving fund, $200,000 in
warehouse inventory and $4,838,247 as a 3% reserve for economic
uncertainty. This allows $254,327 to be allocated toward future
pension liability.
|
|
Fiscal Impact
:
|
The total of projected expenditures for the General Fund Budget as
of the Second Interim are $161,274,881.
|
|
Superintendent's Recommendation:
|
Our Superintendent recommends approval of the 2019-2020 Second
Interim Financial Report.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Susan Kinder - Assistant Superintendent
|
|
|
Signed By:
|
|
|
Kelly Bowers, Ed.D. - Superintendent
|
|
|
|
|
Vote Results:
|
| Original Motion | Member Craig Bueno Moved, Member Chuck Rogge seconded to approve the Original motion 'Our Superintendent recommends approval of the 2019-2020 Second
Interim Financial Report.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 | | | | | Craig Bueno | Yes | | Chuck Rogge | Yes | | Chris Wenzel | Yes | | Anne White | Yes | | Emily Prusso | Yes | |
|
|
|
|
|
|
|