Review Agenda Item
Meeting Date: 12/13/2021 - 7:00 PM
Category: Business/Action Items
Type: Action
Subject: 18.3 Resolution 21/22-14 First Interim Budget Report and Budget Revisions for Fiscal Year 2021-2022
LCAP (Local Control Accountability Plan) Goal:
Enclosure
File Attachment:
2021-2022 First Interim Budget Report Rev1.pdf
12.13.21 Resolution 21-22-14 2021-2022 Budget Revisions.pdf
12.13.21 District Cert. 1st Interim Report 21-22.pdf
12.13.21 1st Interim Budget.pdf
Summary: Education Code Section 42131 requires school districts to assess their financial status twice during the fiscal year. The first interim certification is required to be completed by December 15th, based on financial data through October 31st. The Board of Trustees must certify the interim report as positive, qualified, or negative. A positive certification indicates the school district will be able to meet its financial obligations for the current fiscal year and the two subsequent years.

See Addendum A for First Interim Financial Report for MVLA. The report includes summary information for all funds and a multi-year projection for the General Fund. Also included in the report is a cover letter that highlights the major changes.
Funding: The First Interim Report shows that the District will be able to meet its financial obligations for the current fiscal year. The revised multi-year projection supports that the District will be able to meet its financial obligations for the two subsequent years and maintain the minimum State mandated reserve requirement of 3%.
Recommendation: Certify that the District will be able to meet its financial obligations for the 2021-2022 fiscal year and adopt Resolution No. 21/22-14 Budget Revisions, authorizing the recommended budget adjustments.
Approvals:
Recommended By:
Signed By:
Irene Aguilar - Administrative Assistant
Signed By:
Mike Mathiesen - Associate Superintendent
Signed By:
Nellie Meyer - Superintendent
Vote Results:

Original Motion
Member Phil Faillace Moved, Member Catherine Vonnegut seconded to approve the Original motion 'Certify that the District will be able to meet its financial obligations for the 2021-2022 fiscal year and adopt Resolution No. 21/22-14 Budget Revisions, authorizing the recommended budget adjustments.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0.
The motion Carried 5 - 0
   
Phil Faillace     Yes
Sanjay Dave     Yes
Debbie Torok     Yes
Catherine Vonnegut     Yes
Fiona Walter     Yes