School board to approve positive certification

SAN DIEGO (CNS) – The San Diego Unified School District Board of
Education is scheduled Tuesday to approve a positive certification of its
finances despite the prospect of a budget shortfall that could hit around $120
million in the next academic year.

The positive status in the “Second Interim Financial Report” means
district officials believe they have found solutions to close the gap in 2012-
13.

However, district leaders say it remains difficult to exactly project
future finances because so much state funding is dependent on whether Gov.
Jerry Brown can pass his proposed tax package, which he wants to place before
voters in November.

The state Education Code calls for school districts to file the interim
reports with their county Offices of Education, the second one by March 15.
They are to specify whether they will meet their financial obligations for the
current and two following fiscal years, a “positive” certification; might
have problems doing so, a “qualified” certification; or will not, a
“negative” certification.

In this report, the SDUSD expects to end the current school year with a
balance of general fund balance of over $76 million. That figure would drop to
about $33 million at the end of the next academic year, according to the
report.

The trustees are also expected to finalize the calendar for the 2012-13
school year.

Categories: KUSI