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Meeting Date:
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3/14/2024 - 6:00 PM
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Category:
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Action Items
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Type:
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Action
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Subject:
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10.1 Consideration of District's 2nd Interim Report of Budget and Financial Progress for the 2023-24 school year
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Strategic Plans:
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Enclosure
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File Attachment:
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Description:
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The Board will receive information regarding the financial status of the District as of March 14,2024. The Board will be asked to give a positive certification, meaning the District is able to meet its financial obligations this year and for two subsequent years.
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Background Information:
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Local educational agencies (LEAs) are required to file two reports during a fiscal year (interim reports) on the status of the LEA's financial health. The first interim report is due December 15 for the period ending October 31. The second interim report is due March 15 for the period ending January 31. County superintendents are to report to the Superintendent of Public Instruction and the State Controller the certification for all districts in their county within 75 days after the close of the reporting period.
The interim reports must include a certification of whether or not the LEA is able to meet its financial obligations. The certifications are classified as positive, qualified, or negative. A positive certification is assigned when the district will meet its financial obligations for the current and two subsequent fiscal years. A qualified certification is assigned when the district may not meet its financial obligations for the current or two subsequent fiscal years. A negative certification is assigned when a district will be unable to meet its financial obligations for the remainder of the current year or for the subsequent fiscal year. In addition, the Superintendent of Public Instruction may reclassify the certification of any county office of education or reclassify a certification based on an appeal of a school district in accordance with the above standards.
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Fiscal Implications
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Recommendation:
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The Board receives and considers approving the 2nd Interim Report of Budget and Financial Progress for 2023-24
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Approvals:
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Recommended By:
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Signed By:
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Matthew Morgan - Superintendent/Principal
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