Title
Unaudited Actuals Financial Report for Fiscal Year 2025-26, Multi-Year Projections and Gann Limit Resolution - PUBLIC HEARING
Finance Office
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Brief Description:
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(Unaudited Actuals Financial Report for Fiscal Year 2025-26, Multi-Year Projections, and Gann Limit Resolution – Public Hearing) Recommends approval of the Unaudited Actuals Financial Report for Fiscal Year 2025-26 and adoption of the Gann Limit Resolution.
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Recommendation
Action Proposed:
Approve the Unaudited Actuals Financial Report for Fiscal Year 2025-26 (Attachment A) and direct staff to take all necessary actions to submit the report to the Los Angeles County Superintendent of Schools (CSS) as required by Education Code Section 42100 and adopt the Gann Limit Resolution as required under Education Code Section 42132 (Attachment B).
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Body
Background:
Education Code Section 42100 requires the District to submit an annual statement of all receipts and
expenditures for all funds of the preceding fiscal year to the Los Angeles County Office of Education (LACOE) on or before September 15th.
Under Education Code Section 42132, the District must also adopt a resolution identifying an estimated
appropriations limit for the current year and an actual appropriations limit for the preceding year. The Gann Limit places limits on the growth of expenditures for publicly funded programs.
Although the Gann Limit calculations are provided as part of the Unaudited Actuals Financial Report, a specific resolution is required by statute.
Expected Outcomes:
The District’s statement of revenues and expenditures (unaudited actuals) for Fiscal Year 2025-26 shall be filed with the County Superintendent of Schools in compliance with Education Code 42100. The budget beginning balance for the current fiscal year (2026-27) shall be updated based on the Unaudited Actuals Financial Report.
The adopted Gann Limit Resolution shall be presented to the public.
Board Options and Consequen...
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