Agenda Item
Meeting Date: 3/7/2019 - 7:30 PM
Category: Information and Study Items
Type: Action
Subject: Second Interim Report for 2018-19
District Priorities:
Enclosure:
File Attachment:
Cert page & SACS 3.4.19.pdf
2nd Interim MYP and Assumptions 3.7.19.pdf
2nd Interim 3.7.19 Revised PPT.pdf
Summary: Education Code Sections 35015 and 35035 (g) require school district governing boards to certify their district's projected year-end and subsequent years financial condition twice a year. The certification shall be based upon required financial and budgetary reports, cumulatively entitled the "Interim Report".

After reviewing the Interim Report, the County Office of Education can make one of three certification statements. They are: (1) positive certification, meaning the District is and will remain, financially solvent through fiscal year-end and two subsequent years, provided appropriate adjustments are made; (2) qualified certification, meaning that if certain events do or do not occur, the District will not be able to meet its financial obligations; and (3) negative certification, meaning that the District will not be able to meet its financial obligations through fiscal year-end or two subsequent years.

Administration will present the Second Interim Report for 2018-19 for discussion. The full report is available for review.
Funding:
Recommendation: 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 6-30-19 and two subsequent years, and,
(3) authorizes the Board President to certify and file a "positive" financial certification statement with the Santa Clara Office of Education.
Approvals:
Recommended By:
Signed By:
Penny Timboe - Chief Financial Officer
Signed By:
Dr. Carrie Andrews - Superintendent