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Meeting Date:
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3/2/2021 - 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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10.2 Second Period Interim Financial Report
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Attachment Summary
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Reports by Fund, Supplemental Forms, and Budget Report
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File Attachment:
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Quick Summary / Abstract:
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Our District's Second Period Interim Financial Report as of January 31, 2021 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 Period Interim Financial Report as of October 31, 2020 and the Second Interim Period Financial Report as of January 31, 2021.
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Status
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Our Second Period Interim Financial Report for 2020-2021 is submitted to our Board for approval. The information provided in this second report accounts for the changes made between the First Period Interim Report and the closure of the accounting period as of January 31, 2021. The report projects that our District will end the year with an ending fund balance of $6,953,892. Our District is designating $50,000 for the revolving fund, $150,000 in estimated warehouse inventory, and $4,952,469 as a 3% reserve for economic uncertainty. This allows for $1,801,423 to be set aside for Board-established priorities.
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Fiscal Impact
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The total of projected expenditures for the General Fund Budget as of the Second Interim is $163,682,310.
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Superintendent's Recommendation:
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Approval of the 2020-2021 Second 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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Jodi Robison - Executive Assistant
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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 Craig Bueno Moved, Member Emily Prusso seconded to approve the Original motion 'Approval of the 2020-2021 Second Period 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 | | Anne White | Yes | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | |
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