Officials OK fiscal status report
Canan Tasci, Staff Writer
Created: 06/05/2010 07:07:51 AM PDT

RANCHO CUCAMONGA – Alta Loma School District officials approved a required financial status report showing the district has made the appropriate adjustments to remain fiscally solvent for the next three years.

A status report made earlier this year determined that the district’s reserve fund planned for the 2011-12 school year was $311,470 short of the minimum state standard.

However, in the latest report released last week, the district took the steps that brought the budgetary plan into compliance.

A transfer of $607,675 was made that more than offsets the amount the county indicated the reserve was short, said Jim Ashton, the district’s assistant superintendent of administrative services.

“I know that the budget dollars are OK, though very tight through the third year, however, we are still very concerned with the cash flow because of the cash deferrals by the state, as a result we continue to monitor our cash flow very carefully,” said Rebecca Davies, board president.

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