| Item Title: | Adoption of the Santa Barbara Unified School District 2019-20 Fiscal Year Budget (Jetté) |
| Agenda Title: | Adoption of the Santa Barbara Unified School District 2019-20 Fiscal Year Budget (Jetté) |
| Background: | Staff has prepared the 2019-20 budget in the format prescribed by Education Code Section 42126. The budget reflects the most current assumptions as reported on the School Services of California Financial Dartboard at the time of its completion. School districts are required to maintain a minimum three percent reserve for economic uncertainties. The Santa Barbara Unified School District’s reserve is currently projected at 6.63 percent, which includes the special reserve Fund (17). The 2019-20 proposed budget is accompanied by a two-year multi-year financial projection in which the minimum three percent reserve is met when including the special reserve fund. Education Code Section 42127(i)(4) states that, “No later than 45 days after the Governor signs the annual Budget Act, school districts shall make available for public review any revisions in revenues and expenditures that it has made to its budget to reflect the funding made available by that Budget Act.” Note that this does not specify that revisions must be made; rather, it requires that any revisions that the district chooses to make be available for public review within 45 days after the governor signs the budget. |
| Recommendation: | Staff recommends the board adopt the proposed budget for the 2019-20 fiscal year. |
| Resource Person: | Meg Jetté, Asst. Supt. of Business Services
Laci Preston, Director of Fiscal Services |
| Fiscal Impact: | |
| Funding Source: | |