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Orange Unified board approves positive certification of second-interim budget, shifts reserves toward capital projects and stabilization
Summary
Trustees unanimously approved a second-interim budget certification that moves about $114 million of accumulated reserves into capital and stabilization accounts, funds deferred maintenance, and sets aside a stabilization reserve for potential enrollment declines.
The Orange Unified School District Board on March 12 unanimously approved the district's second interim financial report and a "positive" certification, a move trustees said preserves fiscal flexibility while funding capital improvements.
Assistant Superintendent for Business Mr. Calderon told the board the packet recommends a positive certification "which means basically that we can meet our obligations in the current fiscal year and in the two subsequent fiscal years." His presentation identified a plan to transfer roughly $114 million of accumulated ending fund balance out of…
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