In California, the state and all school districts operate on a fiscal year that begins July 1. A preliminary budget is adopted prior to July 1 but generally continues to be adjusted at what are called interim periods. First interim is the budget, including actuals through October 31st, and it is due to the County Education Office by December 15th. Second Interim is the projected budget, including actuals through January 31st, and it is due to the County Education Office by March 15th. The last reporting period for a fiscal year is the Unaudited Actuals which are actual revenues and expenditures for the year that have not yet been audited. During the school year, the district confirms its financial status officially through board presentations after which the board votes to approve or deny a budget proposal. A budget report cannot be sent to the County Education Office prior to approval by the school board. After the books for that year are closed, the process ends with an audit conducted by an outside audit agency certifying the accuracy of district records. The report from this audit is then forwarded to the School District Board, the County Education Office and the California Department of Education.
In a limited number of school districts—fewer than 80 in most years—revenues from local property taxes exceed the total revenue limit income due to a district based on the state formula. These districts are allowed to keep all of their property taxes but do not receive per-pupil general purpose funding from the state. They are called “basic aid” or “excess revenue” school districts. The Santa Ynez Valley Union High School District is a basic aid district. Our property tax revenue exceed the funding limit set by the state. We have an operating budget of approximately 12.5 million dollars. The state minimum reserve limit is 4% for a district of our ADA. However, we have a minimum reserve limit set by board resolution of no less than 30% and a current reserve level of approximately 35-45%. We purposefully maintain this reserve in an effort to control the impact of economic and market shifts on our district's programs and staffing levels. Most basic aid districts maintain reserve levels above those minimum levels set by the state. All budget reports for this district and a variety of supplemental presentation material for each fiscal year can be found in the links to the left. Questions can be directed to the Business Manager.