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Meeting Date:
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6/14/2011 - 7:30 PM
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Category:
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Untitled
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Type:
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Info
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Subject:
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16.29 Board Policy 3100 -- Budget Development and Adoption Process, Budget Criteria and Standards, Fund Balance and Long-Term Financial Obligations.
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LCAP (Local Control Accountability Plan) Goal:
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Enclosure
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File Attachment:
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Summary:
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The Governmental Accounting Standards Board (GASB) issued Statement 54 effective for the closing of the books for the 2010/2011 fiscal year.
The statement changes the way districts report fund balances, replacing the term fund balance designations with committed fund balance and assigned fund balances.
GASB 54 requires the Board to establish adjustments to board policy related to fund balances.
Board Policy 3100 is brought forward to implement these changes.
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Funding:
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Not Applicable.
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Fiscal Impact
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Not Applicable.
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Recommendation:
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Approve Board Policy 3100.
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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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Steven Lawrence - Superintendent
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