|
|
|
|
|
|
|
|
|
Meeting Date:
|
12/12/2023 - 7:00 PM
|
|
Category:
|
DISCUSSION ACTION ITEMS
|
|
Type:
|
Action
|
|
Subject:
|
12.3 Approval of the 2023-2024 First Interim Financial Report
|
|
:
|
|
|
Attachment Summary
|
Reports by Fund, Supplemental Forms, and Budget Report
|
|
File Attachment:
|
|
|
Quick Summary / Abstract:
|
Staff is presenting our District's First Interim Financial Report as of October 31, 2023 for our Board of Trustees’ 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, 2023, and the Second Interim Financial Report as of January 31, 2024.
|
|
Status
:
|
Our First Interim Financial Report for 2023-2024 is submitted to our Board for approval. The information provided in this report accounts for the changes made between the July 1st Adopted Budget and the closure of the accounting period of October 31, 2023. The report projects that our District will end the year with an ending fund balance of $10,620,616, of which $3,955,512 is restricted Grant funds. Our District is designating $50,000 for the revolving fund, $200,000 in estimated warehouse inventory, and $6,409,505 as a 3% reserve for economic uncertainty. The remaining $5,599 is undesignated at this time.
|
|
Fiscal Impact
:
|
The total of projected expenditures for the General Fund Budget as of the First Interim Financial Report is $213,650,140.
|
|
Superintendent's Recommendation:
|
Our Superintendent's recommendation is that our Board of Trustees approve the 2023-2024 First Interim Financial Report.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Mamie Kristovich - Executive Assistant
|
|
|
Signed By:
|
|
|
Teresa Fiscus - Assistant Superintendent
|
|
|
Signed By:
|
|
|
Chris Van Schaack - Superintendent
|
|
|
|
|
Vote Results:
|
| Original Motion | | Member Steven Drouin Moved, Member Yanira Guzman seconded to approve the Original motion 'Our Superintendent''s recommendation is that our Board of Trustees approve the 2023-2024 First 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 | | Emily Prusso | Yes | | Kristie Wang | Yes | | Yanira Guzman | Yes | | Steven Drouin | Yes | |
|
|
|
|
|
|
|