Cal. Code Regs. tit. 5 § 15448

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 15448 - Deficit Spending

(a) Unrestricted deficit spending (total unrestricted expenditures and other financing uses is greater than total unrestricted revenues and other financing sources) as a percentage of total unrestricted expenditures and other financing uses, has not exceeded one-third of the district's available reserves as a percentage of total expenditures and other financing uses in two out of three prior fiscal years.

(b) For purposes of this section, available reserves are the unrestricted amounts in the Reserve for Economic Uncertainties, the Stabilization Arrangement, and the Unassigned/Unappropriated accounts in the General Fund and the Special Reserve Fund for Other Than Capital Outlay Projects. Available reserves will be reduced by any negative ending balances in restricted resources in the General Fund.

(c) For purposes of this section, a school district that serves as the Administrative Unit (AU) of a Special Education Local Plan Area (SELPA) may exclude from its expenditures the distribution of funds to its participating members.

Cal. Code Regs. Tit. 5, § 15448

Note: Authority cited: Sections 33127 and 33129, Education Code. Reference: Section 33128, Education Code.

1. New section filed 8-19-91; operative 7-1-91. Submitted to OAL for printing only and exempt from Government Code section 11343 under Education Code section 3313 (Register 92, No. 10).
2. Amendment of section heading filed 10-5-2000; operative 11-4-2000. Submitted to OAL for printing only pursuant to Education Code section 3313 (Register 2000, No. 40).
3. Repealer and new section filed 5-13-2008; operative 6-12-2008. Submitted to OAL for printing only pursuant to Education Code section 33131 (Register 2008, No. 20).
4. Amendment of subsection (b) filed 12-4-2013; operative 12-4-2013. Submitted to OAL for printing only pursuant to Education Code section 33131(Register 2013, No. 49).
5. Amendment of subsection (b) filed 3-13-2024; operative 3/13/2024. Submitted to OAL for filing and printing only pursuant to Education Code section 33131 (Register 2024, No. 11).