|
|
|
|
|
|
|
|
|
Meeting Date:
|
6/25/2014 - 7:30 PM
|
|
Category:
|
Untitled
|
|
Type:
|
Action
|
|
Subject:
|
18.10 Public Hearing for Resolution 13/14-42 to Utilize Flexibility of SBX3 4 and SB70
|
|
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.
|
|
Enclosure
|
Resolution 13/14-42 to Utilize Flexibility of SBX3 4 and SB70.
|
|
File Attachment:
|
|
|
Summary:
|
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.
|
|
Funding:
|
N/A
|
|
Fiscal Impact
:
|
N/A
|
|
Recommendation:
|
Hold Public Hearing on Resolution 13/14-42 to Utilize Flexibility Authorized by SBX3 4 and SB70.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Bryan Richards - Chief Financial Officer
|
|
|
Signed By:
|
|
|
Dr. Nellie Meyer - Superintendent
|
|
|
|
|
|
|
|
|