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Meeting Date:
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Category:
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Type:
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Subject:
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18.10 Public Hearing for Resolution 13/14-42 to Utilize Flexibility of SBX3 4 and SB70 |
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LCAP (Local Control Accountability Plan) Goal:
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Strategic Initiative 5.2 Optimal Operations and Infrastructure Ensure Fiscal stability and accountability through effective stewardship of financial assets and funding sources.
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Enclosure:
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Resolution 13/14-42 to Utilize Flexibility of SBX3 4 and SB70. |
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File Attachment:
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Summary:
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Although SB70 extended the Tier 3 flexibility provided under SBX3-4 through the 2014-15 school year, the Local Control Funding Formula has absorbed all remaining Tier 3 funding. To maximize the flexibility under the LCFF, staff recommends sweeping the remaining Tier 3 balances to the unrestricted general fund after all 2013-14 expenses are paid as part of the closing of the books.
Targeted Instructional Improvement Grant, which continues as a separate funding source under LCFF will be exempted. Adult Education, which has a Maintenance of Effort requirement through 2014-15 will cease as a Tier 3 program, but the code will be used to record the contribution to record the Maintenance of Effort.
As a condition of receipt of the funding a public hearing on utilization of the flexibility is required annually. |
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Funding:
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Recommendation
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Hold Public Hearing on Resolution 13/14-42 to Utilize Flexibility Authorized by SBX3 4 and SB70. |
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Approvals:
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Recommended By: |
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Signed By: |
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Bryan Richards - Chief Financial Officer |
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Signed By: |
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Dr. Nellie Meyer - Superintendent |
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