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Board hears report on excess reserves; staff notes 4% state minimum
Summary
District staff told the board the state-mandated minimum reserve is 4% and, as a basic-aid district, Santa Ynez Valley Union High must report—but is exempt from spending down—any reserves above that level for 2026–2029; no public comment was received.
District staff presented an annual report on excess reserves for fiscal years 2026–2029 during the Aug. 25 meeting. Alicia, a district staff member, explained that the district must disclose any funds "over and above the state mandated minimum," which she said is "4%."
Alicia told the board that the district, as a basic-aid district, is required to report reserves above 4% but is "exempt from the spend down requirement." She said the excess balances were included in the originally presented budget and are shown for the current year and the two subsequent years. The Chair asked whether any board members had questions; none were raised. No members of the public spoke during the hearing, which the Chair opened and closed at 08:26.
