SDUSD Board to approve budget finances - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

SDUSD Board to approve budget finances

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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.

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