Review Agenda Item
Meeting Date: 6/26/2017 - 7:00 PM
Category: Business/Action Items
Type: Action
Subject: 18.4 Public Hearing for Senate Bill 858: Excess of Minimum Reserve Requirements
LCAP (Local Control Accountability Plan) Goal:
Strategic Initiative 5.2 Optimal Operations and Infrastructure
Ensure Fiscal stability and accountability through effective stewardship of financial assets and funding sources.
Policy:
Enclosure 2017-18 Statement of Reasons for Excess Reserves
File Attachment:
2017-18 Statement of Reasons for Excess Reserves.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 or 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:
Nance Juner - Director of Fiscal Services
Signed By:
Dr. Nellie Meyer - Superintendent
Vote Results: