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District presents long-range reserve plan and previews May capital authorization proposition
Summary
Acting clerk and assistant superintendent Mrs. Buzinski presented a working long-range reserve plan: key reserve balances, the effect of GASB 101 raising accrued liability to about $10.4 million, and a preview of a May Proposition 2 to expand capital authorization to $12.5 million that would be tax-neutral and partly funded by reserves.
Mrs. Buzinski, acting clerk and assistant superintendent, presented the district—s working long-range reserve plan, outlining reserve purposes, current balances and options for funding over the next budget cycle.
"This is a working document. It's our first look at some decisions that we need to make this upcoming year with our reserves," she said, walking the board through each restricted reserve and several fund-balance categories.
Key figures provided by staff include: an Employee Retirement System (ERS) reserve ending the…
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