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Meeting Date:
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9/7/2021 - 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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10.7 2020-2021 Unaudited Actual Financial Reports
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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 2020-2021 Unaudited Actual Financial Reports with the Alameda County Office of Education (ACOE) by September 15th. This information provides detail for the actual revenue received and expenses incurred from each of our District's funds during the 2020-2021 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 current year 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 of the ACOE. Upon approval of 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 2020-2021 annual District audit.
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Fiscal Impact
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The 2020-2021 ending fund balance for the General Fund is $16,860,548.10 (Unrestricted $9,333,538.22; and Legally Restricted $7,527,009.88). On the unrestricted side, $4,979,222 is designated as a 3% reserve for economic uncertainty, $329,122.95 accounts for revolving cash and stores inventory, $1,500,000 is designated for textbook adoptions, $745,526 is designated for encumbrances and carryover, and the remaining $1,779,667.27 will be used to offset expenses and to increase our reserve for future economic uncertainty.
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Superintendent's Recommendation:
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Approval of the 2020-2021 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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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 Emily Prusso Moved, Member Kristie Wang seconded to approve the Original motion 'Approval of the 2020-2021 Unaudited Actual Financial Reports.'. 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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