Mountain View Whisman School District
Agenda Item for Board Meeting of 12/12/2019
Agenda Category: REVIEW AND ACTION
Agenda Item Title: 2019-2020 First Interim Budget Report (20 minutes)
Estimated Time:
Person Responsible: Rebecca Westover, Ed.D., Chief Business Officer
Background:
Twice during the fiscal year, a school district is required to submit a financial report certifying the district's ability to meet its financial obligations for the current year and two subsequent years. The reports examine the district's attendance, spending patterns, fund balance, reserve for economic uncertainties, and multi-year projections. Staff will present the 2019-2020 First Interim Budget Report, which reflects the district's financial position as of October 31, 2019.
The First Interim reports changes to the District's 2019-2020 budget adopted in June 2019. The projected General Fund Unrestricted ending balance for 2019-2020 is estimated at $21,920,024, which is a 26.3% reserve, with total revenues at $77,145,151 and total expenditures at $79,657,655. Note: The operational deficit as of the First Interim for the 2019-2020 year is $2,512,504.
Fiscal Implication:
General Fund 01 Combined Totals
Beginning Balance: $24,432,527
Total Revenues: $77,145,151
Total Expenditures: $79,657,655
Ending Balance: $21,920,024
Unrestricted Reserve Level: 26.3%
Recommended Action:
That the Board of Trustees approve the 2019-2020 First Interim Budget Report, as presented.
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