School district holds special meeting on fund balances and budgets

Support Local Journalism

LOGIN
REGISTER

A special meeting of the WJUSD was held on Thursday, Oct. 14 for a presentation of the 2020-21 Unaudited Actuals finances and recommendation to approve Resolution 1156-21 2021, the Gann Limit Calculations.

Notice of the special board meeting was made on Monday, Oct. 11, only days after their regularly scheduled meeting held on Thursday, Oct. 7.

Two action items were on the special meeting agenda: Presentation and approval of the Unedited Actuals financial report, and to Request for approval of Gann limit calculations.

Chief Business Officer Jonathan Feagle presented the first agenda item and summarized 134-pages of the 2020-21 unaudited financial report during an 18-minute slide presentation. Feagle reported that apart from the Special Reserve Fund for Capital Outlay, all fund balances are greater than the actual ending balances for 2019-20. The report includes actual income and expense information for each fund.

Compared to estimated actuals at budget, Feagle noted, all funds met or exceeded projections except the General Fund that is approximately $800,000 less than projected in June. Feagle said this deficit “was due partly to a state required change in accounting for one-time COVID related funds and spending down balances of those funds.”

Feagle presented a slide indicating that 93 percent of expenditures from the General Fund are spent on student programs.

After the presentation and Trustee comments, a motion was made to accept the report. Trustees unanimously approved it and the report will be delivered to the Yolo County Board of Education for review before being sent up to the California Department of Education.

The second item on the special meeting agenda was for Trustees to approve Resolution 1156-21, the Gann Limit Calculations report for fiscal year 2020-21. By doing so, the board declares that the appropriations in the budget for the 2020/21 fiscal year were $11,374,157.79 and that they did not exceed the limitations imposed by Proposition 4 and applicable statutory law.

According to the Deptartment of Education’s website, the purpose of the Gann limit is to keep state and local government spending, including school spending, capped at 1978–79 levels but adjusted for changes in population and inflation. For local educational agencies (LEAs), issues with the limit can occur if revenues from taxes (both local revenues and state aid) increase at a greater rate than average daily attendance (ADA) and inflation, or if there is a drop in ADA.

The Board of Trustees unanimously approved the Gann Limit Calculations resolution and the meeting was adjourned.

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

Yolo County double-murder trial stalls once again

Next Article
blank

How to tame your seasonal sweet tooth

Related Posts