Agenda Item
Meeting Date: 6/24/2019 - 7:00 PM
Category: Business/Action Item
Type: Action
Subject: 16.3 Public Hearing for Senate Bill 858: Excess of Minimum Reserve Requirements
LCAP (Local Control Accountability Plan) Goal:
Goal 1: All students will receive a high quality education in a safe and welcoming environment with equitable and high expectations, access to technology, and instruction in the California State Standards that prepare them for college and/or career.
Policy:
Enclosure: 2018-19 Statement of Reasons for Excess Reserves.
File Attachment:
DOC 62419 Statement of Reasons for Excess Reserves 2019.pdf
Summary: Senate Bill (SB) 858 (Chapter 32/2014) requires that school districts hold a public hearing to provide information on the amount in the unrestricted General Fund expenditures and other financing uses.

The district is committed to maintain a prudent level of financial resources to protect against the need to reduce service levels because of temporary revenue shortfalls of unpredictable expenditures and to maintain a high bond rating. The statement for assigned and unassigned ending fund balances above the state required minimum level is attached.
Funding: Not Applicable
Fiscal Impact None
Recommendation: Public Hearing for Senate Bill (SB) 858, Chapter 32/2014, Balances in Excess of Minimum Reserve Requirements.
Approvals:
Recommended By:
Signed By:
Mika Arbelbide - Director of Budget
Signed By:
Rose Ramos - Chief Business Officer
Signed By:
Dr. Nellie Meyer - Superintendent
Vote Results: