By Susan Winlow

School district trustees in Fairfield will hear a 2014-15 interim financial report, a twice-yearly required statement to ensure a school district’s ability to meet financial obligations.

The first interim report for the Fairfield-Suisun School District includes general fund statement of revenues, expenditures and changes in fund balance; criteria standards indicating financial health or distress; average daily attendance; cash flow statements; and multiple-year projections and assumptions.

Reports indicate the district will be in “planned” deficit spending mode, with a total decrease of $7.4 million in the general fund, largely due to one-time monetary carry-overs not fully spent from 2013-14. Financial reports note that deficit spending “will need to be addressed” as the district puts together the 2015-16 budget but Kelly Bartel, assistant superintendent, said in a Tuesday phone interview that the deficit spending in this case is not worrisome.

via Fairfield school district considers financial future Daily Republic.