First interim financial report up for BUSD review – Benicia Herald

By Nick Sestanovich

The Governing Board of the Benicia Unified School District will hear a discussion and then vote on the district’s 2017-18 first interim financial report at Thursday’s school board meeting.The district provides the report using information from the budget adopted by the state in June along with the Local Control Funding Formula (LCFF) as well as other budget assumptions.

The LCFF is a funding system approved by the state in 2013 which establishes grants in place of funding streams. It is how school districts in California, including BUSD, are funded. According to a presentation by Chief Business Official Tim Rahill, the LCFF provides $8262 per BUSD student and includes a base grant as well as a 20 percent increase for English language learning or foster youth students as well as those enrolled in the free/reduced lunch program. According to Rahill, those three groups make up 22 percent of BUSD’s student population.Utilizing information from the state budget, Rahill wrote that the district would be operating at a $1.8 million operating deficit, not including negotiating costs with any of the district employee groups and would provide for the state’s 3 percent Reserve for Economic Uncertainties and the Local Board Policy Reserve, consisting of an additional 4 percent reserve.

Source: First interim financial report up for school board review

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