Saugus School Board to approve budget revisions

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The Saugus Union School District Governing Board will approve seven budget revisions in areas of the district’s unique funds during its regular meeting Wednesday.

These fund changes are due to district expenses, new grants, bond leasing, inter-fund transfers and payments.

For the district’s General Fund, changes include updates to the fund’s restricted and unrestricted funds which reflect changes in income and expenditures.

The unrestricted ending fund balance experienced a net decrease of $346,062, bring the ending fund balance to $8,003,904, and the restricted fund experienced a net decrease of $314,754, bringing the ending fund balance to $2,494,131.

Fund 12.0, the Child Development Fund, experienced an increase in balance due to $32,021 in block grant revenue while another Child Development Fund, Fund 63.0, saw a decrease in balance by $40,719 due to a revision of custodial charges.

The district’s Building Fund leased $466,500 in revenue bond proceeds for projects, decreasing the end fund balance to $1,614,145.

For Measure EE funds, the district allocated $252,900 for site specific master plan projects, bringing the balance down to $152,997.

The Debt Service Fund also saw changes with inter-fund transfers and annual debt service payments, resulting in an ending fund balance of $12,315,639.

Funds within the Capital Facilities Fund were reallocated for salary and benefits, but had no financial impact.

Additional Agenda Items

  • First reading of five updated board policies and administrative regulations, second reading and adoption of four updated board policies, second reading of one board policy and third reading and adoption of one board policy and administrative regulation
  • Approve fiscal revision to MOU for fiscal year 2016-2017 between Santa Clarita Valley Induction Consortium-Beginning Teacher Support and Assessment (BTSA) and the district
  • Approve MOU with Los Angeles County Office of Education (LACOE) relating to Business Enhancement System Transformation (BEST) Project
  • Review prosed Board Meeting Calendar for 2017

ccox@signalscv.com
661-287-5575
On Twitter as @_ChristinaCox_

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Christina Cox
Christina Cox is a multimedia journalist covering education, community and breaking news in the Santa Clarita Valley. She joined The Signal as a staff writer in August 2016.