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Board approves required statement of excess reserves under Education Code 42127
Summary
Staff presented the district's required statement of excess reserves under Education Code 42127 and the board approved the statement, which lists commitments, reserves for economic uncertainties, restricted ending fund balance and non-spendable amounts.
Melissa presented the district’s statement of excess reserves under Education Code 42127 and recommended the board approve the same figures that had been presented on Tuesday. The statement summarized committed amounts, the reserve for economic uncertainties, restricted ending fund balances and the district’s non-spendable cash amounts.
A trustee moved to approve the statement of excess reserves and another trustee seconded; the board voted to approve the statement. The transcript records the motion and that the item was approved but does not include a detailed roll-call tally.
Staff recommended posting the approved statement consistent with Education Code requirements.
