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Meeting Date:
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3/2/2023 - 7:00 PM
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Category:
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Information and Study Items
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Type:
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Action
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Subject:
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Budget: Second Interim Report for 2022-23
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District Priorities:
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Enclosure
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File Attachment:
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Summary:
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Education Code Sections 42130 and 42131 require school district governing boards to certify their district's projected year-end and subsequent years' financial condition twice a year, First Interim (July 1 – October 31) and Second Interim (July 1 – January 31). The certification shall be based upon required financial and budgetary reports, cumulatively entitled the "Interim Report". There are three possible “certifications” that can be made: (1) positive certification, meaning the District will meet its financial obligations for the current fiscal year and subsequent two fiscal years; (2) qualified certification, meaning that if certain events do or do not occur, the District may not meet its financial obligations for the current fiscal year or two subsequent fiscal years; and (3) negative certification, meaning that the District will be unable to meet its financial obligations through fiscal year-end or two subsequent years.
After reviewing the Interim Report, the County Office of Education can either “agree” with the Board’s Certification, or disagree and make a change to the Board’s Certification, and shall notify the District within 75 days after the close of the reporting period of their review.
Chief Financial Officer, Dr. John Pappalardo will present the Second Interim Report.
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Funding:
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Recommendation:
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That the Board, having reviewed the Interim Report, which reveals pertinent financial and budgetary information,
(1) approves the Second Interim Report
(2) finds that the District will be able to meet its financial obligations through June 30, 2023, and the two subsequent fiscal years, and,
(3) authorizes the Board President to certify and file a "positive" financial certification statement with the Santa Clara Office of Education.
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Approvals:
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Recommended By:
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Signed By:
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Carlena Grandey - Administrative Assistant to the Superintendent
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Signed By:
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Kristi Schwiebert - Superintendent
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