Fiscal Services Department is responsible for:
- Developing and maintaining a balanced budget for the district
- Collecting revenue due to the district
- Monitoring expenses to assure state and district regulations are met
- Providing financial information to the Board of Education and district administrators
- Preparation of state, federal and local reports
- Accounting for all financial transactions of the district according to generally accepted accounting principles
ECONOMIC IMPACT AID (EIA)
Senate bill (SB) 754 requires school districts to post expenditure for the past two years and related fiscal information for one year on their websites in order to receive Economic Impact Aid (EIA) funds. Compliance with this law will affect receipt of EIA funds beginning in 2013-14.2011-12 & 2012-13: EIA Expenditure Report
The EIA program is a state categorical program for kindergarten through grade twelve to support programs and activities to assist English learners achieve proficiency in the English language as rapidly as practicable and to support programs and activities to improve the academic achievement of English learners.
For more information regarding EIA funding click on link below.
EDUCATION PROTECTION ACCOUNT (EPA)
Pursuant to Article XIII, Section 36 of the California Constitution school districts are required to determine how the moneys received from the Education Protection Account are spent in the school or schools within its jurisdiction. The language in the constitutional amendment requires that funds shall not be used for the salaries and benefits of administrators or any other administrative costs.
There is also a requirement that districts must annually post on its website an accounting of how much money was received from EPA and how the money was spent. The 2012-13 Education Protection Account Expenditure report will be available no later than August 31, 2013.
On April 2, 2014, State Controller John Chiang unveiled a new website to track tax dollars raised by Proposition 30-the "Schools and Local Public Safety Protection Act of 2012"-to ensure ongoing, stable funding to support K-12 public schools and community colleges.
Follow link to view RSUSD State profile: http://trackprop30.ca.gov/K12Lea.aspx?id=2026
E.C. 42127(i)(4) states that, not later than 45 days after the Governor signs the annual Budget Act, the district shall make available for public review any revisions in revenues and expenditures that it has made to its budget to reflect the funding made available by the Budget Act.
EdSource Resource Provides Updates and Essential Information on the Local Control Funding Formula
More info: Guide to the Local Control Funding Formula