Legal Resources | | T5 15456
Chapter 14. School Finance. Subchapter 8. Criteria and Standards for School District Budgets and Interim Reports. Interim Report Review. Note: For fiscal responsibility of County Superintendents. Deficit Spending.
(a) Unrestricted deficit spending (total unrestricted expenditures and other financing uses is greater than total unrestricted revenues and other financing sources) as a percentage of total unrestricted expenditures and other financing uses, has not exceeded one-third of the district's available reserves as a percentage of total expenditures and other financing uses in any of the current fiscal year or two subsequent fiscal years.
(b) For purposes of this section, the following shall apply:
(1) Available reserves are the unrestricted amounts in the Reserve for Economic Uncertainties and the Unassigned/Unappropriated accounts in the General Fund and the Special Reserve Fund for Other Than Capital Outlay Projects. Available reserves will be reduced by any negative ending balances in restricted resources in the General Fund.
(2) A school district that serves as the AU of a SELPA may exclude from its expenditures the distribution of funds to its participating members.
Authority cited:
Education Code 33127
Education Code 33129
Education Code 42131
Reference:
Education Code. 33128
(Amended by Register 2013, No. 49.)