Notice of Public Hearing for 06/23/2020 Board Meeting

NOTICE OF PUBLIC HEARING
Redondo Beach Unified School District hereby
gives notice that a Public Hearing will be held as follows:
 
PUBLIC NOTICE
June 23, 2020
2020-2021 Public Hearing
Reserve Disclosure Requirements
 
The new reserve disclosure requirements are to hold a public hearing disclosing the reserve
balances as follows:
  • 3% Minimum reserve level required for the current and subsequent two years:

    2020-21 $3,143,777
    2021-22 $3,153,351
    2022-23 $3,220,731

  • Amount of assigned and unassigned ending fund balance greater or less than the 3%
    minimum in the budget and subsequent two years:

    2020-21 $250,939
    2021-22 -$7,941,461
    2022-23 -$18,505,067

    A resolution to address the reserve deficiency in the subsequent two years will be
    approved after the adoption of the budget.

  • Reasons for the reserve being less than the 3% minimum:
    Due to the unanticipated economic impact of COVID-19.
 
DATE:          TUESDAY, JUNE 23, 2020
TIME:           1:00 PM
LOCATION: Redondo Beach Unified School District Office
                     1401 Inglewood Ave.
                     Redondo Beach, CA 90278
 
FOR ADDITIONAL INFORMATION CONTACT:
Dr. Annette Alpern, Deputy Superintendent of Administrative Services
(310) 379-5449 ext. 1241

Attached Files