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Finance director to present SBRC exhibits after larger-than-expected categorical carryover; board accepts EL excess-cost application
Summary
The finance director told the board the district's categorical carryover exceeds its UAB and will require an SBRC update; the board approved submission of a modified supplemental aid (EL excess cost) application for $211,328.95 and also approved exhibits for the SBRC update.
The district finance director told the board that a larger categorical carryover balance than the district's unspent authorized budget (UAB) will trigger review at the School Budget Review Committee (SBRC). The director outlined drivers — including open-enroll tuition out and supplemental state aid changes — and explained that the district will present a plan in December to spend down carryover balances.
As part of the fiscal items, the board approved the EL excess costs application for modified supplemental aid in the amount of $211,328.95 and approved exhibits for the upcoming SBRC fiscal update. The director also explained that transferring categorical funds into a flexibility account requires a two-meeting public hearing and must be completed before June 30 of the fiscal year.
Board members asked clarifying questions about the nature of presentations to the SBRC, the timetable and how flexibility-account transfers work; the finance director said a December 16 SBRC appearance is scheduled for a financial update and that Laurie (finance lead) will present more details in the finance report.
