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Meeting Date:
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12/13/2022 - 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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13.3 Approval Of The 2022-2023 First 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 First Period Interim Financial Report as of October 31, 2022 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, 2022 and the Second Interim Period Financial Report as of January 31, 2023.
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Status
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Our First Period Interim Financial Report for 2022-2023 is submitted to our Board for approval. The information provided in this first report accounts for the changes made between the July 1st Adopted Budget and the closure of the accounting period of October 31, 2022. The report projects that our District will end the year with an ending fund balance of $23,403,382, of which $16,854,911 is restricted one-time Block Grant funds for designing and implementing educational programs over the next three years. Our District is designating $50,000 for the revolving fund, $200,000 in estimated warehouse inventory, and $5,960,882 as a 3% reserve for economic uncertainty. The remaining $337,589 is undesignated at this time.
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Fiscal Impact
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The total of projected expenditures for the General Fund Budget as of the First Interim is $198,695,726.
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Superintendent's Recommendation:
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Our Superintendent recommends approving the 2022-2023 First 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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Chris Van Schaack - Superintendent
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Vote Results:
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| Original Motion | | Member Emily Prusso Moved, Member Yanira Guzman seconded to approve the Original motion 'Our Superintendent recommends approving the 2022-2023 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 | |
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