Agenda Item
Meeting Date: 3/5/2019 - 7:00 PM
Category: Other Action Items
Type: Info/Action
Subject: (Item OAI-1) Second Interim Financial Report (Mr. Kahn). Report certifies that the District will be able to meet the financial obligations for the current fiscal year and two subsequent fiscal years.
:
Enclosure:
File Attachment:
18.19 Second Interim Financial Report.County Assumptions.ada.pdf
2018-19 Second Interim Financial Report-State Reports.ada.pdf
2018-19 Second Interim PPT.edit.ada.pdf
Draft for Lodi - 2nd Interim Executive Summary 2-28-19.pdf.ada.pdf
Summary: Attached is the 2018-19 Second Interim Financial Report, reflecting operations through January 31, 2019. This report is being presented for your approval and certification; it will be forwarded to the San Joaquin County Office of Education.

The report certifies that the District will be able to meet the financial obligations for the current fiscal year and two subsequent fiscal years. In addition to the General Fund (Fund 01), the Interim Report includes the Charter School Special Reserve Fund (Joe Serna Charter - Fund 09) as required by Education Code 47604.3(a). Based on our review, the fund reflects a projected positive ending balance at the end of the current fiscal year. All other District funds have sufficient resources to pay for current and upcoming obligations for the next two subsequent years.

In developing the multi-year projections for the report, a number of assumptions were made based on the general financial stability of the District. They include projected adjustments in LCFF income rates based on information from School Services of California and San Joaquin County Office of Education, changes in student enrollments, cost adjustments associated with staffing to the changing student populations and Board approved adjustments including adjustments related to the latest Board approved LCAP.
Funding:
Recommendation: Staff recommends that the Board of Education approve the 2018-19 Second Interim Financial Report.
Approvals:
Recommended By:
Signed By:
Leonard Kahn - Chief Business Officer
Signed By:
Cathy Washer - Superintendent