AB 2689, as introduced, Gray. School district funds: expenditures and appropriations: excess funds.
Existing law requires any amounts added to the general reserve of the school district in excess of the amount already budgeted to not be available for the appropriation by the school district for the current fiscal year, except as provided.
This bill would make nonsubstantive changes to this law.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 42610 of the Education Code is amended
2to read:
begin insert(a)end insertbegin insert end insert Any amounts added to the general reserve of the
4school district in excess of the amount already budgeted shall not
5be available for appropriation by the school district for the current
6fiscal year except by the following procedure. The governing board
7of the school district shall, by formal action of the board, pass a
8resolution setting forth the need according to major classification
9of school district expenditures to be met frombegin delete anyend deletebegin insert
aend insert
portion of the
P2 1general reserve derived from assured income in excess of the total
2amount anticipated in the budget. The resolution shall be submitted
3to the county superintendent of schools.
4The
end delete
5begin insert(b)end insertbegin insert end insertbegin insertThe end insertcounty superintendent of schools shall approvebegin delete anyend deletebegin insert aend insert
6
resolution for the appropriation of income to the extent that the
7income was not anticipated in the budget of the school district.
8On
end delete
9begin insert(c)end insertbegin insert end insertbegin insertOn end insertthe first day of July of each year, the general reserve
10together with unexpended balances of appropriations and income
11in excess of anticipated income for the preceding fiscal year shall
12be placed to the credit of the school district, and the school district
13shall include all money so credited in the balance shown in the
14
budget for the ensuing fiscal year.
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