Category: Reporting

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Financial Audit Report Requirements

Financial Audit Report – Annual audit due dates, forms and information are available on the SBAS website<sbasweb.sbceo.org/reporting/audit>.
Education Code requires LEAs to file the annual financial audit report for the preceding fiscal year with our office, the State Controller’s Office (SCO), and the California Department of Education (CDE) by Dec. 15. Important information and resources regarding the district’s Financial Audit Report are available on the SBAS Audit Webpage<sbasweb.sbceo.org/reporting/audit>, including:

* Annual Audit Timelines * Audit Report Filing * Audit Extensions (Audit Extension Request Form<sbas.sbceo.org/docs/auditextension.html>) – If applicable, due to SBAS by December 1 * District Board Review (Financial Audit Certification<sbas.sbceo.org/docs/financialauditcertification.html>, Charter School Audit Review<sbas.sbceo.org/docs/charterschoolauditreview.html>) * Corrective Actions and Audit Adjustments * Audit Contract Requirements (including Auditor Rotation Requirement and Required Audit Provisions) * Hot Topics

This page is updated throughout the year as additional information becomes available.

Regards,

School Business Advisory Services Team
Santa Barbara County Education Office

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First Interim Report Webpage

[A picture containing text, businesscard, stationary, envelope Description automatically generated] First Interim Report<www.sbceo.org/Page/1704> – Updated information has been posted on our SBAS website.
Education Code requires districts to submit the First Interim Report to our office, which reflects the financial and budgetary status of the district for the period ending Oct. 31. The First Interim Report must be approved by the district’s board no later than 45 days after the close of the report period, which is Dec. 16. The information you will need to complete your First Interim Budget is now available on the SBAS Interim Reports Webpage<sbasweb.sbceo.org/reporting/interim-reports>. Please continue to check the website since additional resources, like the P-1 J-29 Property Tax Report, will be posted once information becomes available.
Reminder: Immediately following board approval, but no later than 5 p.m. on Friday, December 13, please route the budget in SACS Web by ‘Promoting to COE for Review’. Due to a planned SACs Outage, the SACs Web system will not be available from December 13 at 11:59 p.m. until Tuesday, December 17 at 8:00 a.m. After promoting in SACs Web, upload supporting documents using the SBAS Upload<sbas.sbceo.org/docs/fileuploads.shtml> page. For detailed instructions, please refer to our Interim Budget Submission Checklist<sbas.sbceo.org/Escape/Submissionchecklistrevisedjwdsjw.w.link..pdf>.
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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Fair Market Value (GASB 31)

Dear School Business Officials,
The Santa Babara County Treasurer has released information necessary to calculate the fair market value of your deposits in the pool as of June 30, 2024, which is required to prepare your financial statements in accordance with GASB 31. You can access their official correspondence on the SBAS Year-End Close Webpage<sbasweb.sbceo.org/finance/year-end-close>.
Please contact your Auditor or District Financial Advisor with any questions regarding posting FMV adjustments.
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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45-Day Budget Revisions Webpage and Survey (ACTION REQUIRED)

Dear School Business Officials,
The California state budget was signed by the governor on Wednesday, Jun. 26, 2024, which means that Education Code Section 42127(i)(4) is now in effect. This means that the district needs to update its budget and present the revisions to the board within 45 days, which is Saturday, Aug. 10 . Since the date falls on a weekend, the timeline is extended through to Monday, Aug. 12. In the past, we have sent a 45-Day Budget Revision memo to the business listserv as a reminder with the timeline for submitting the updated budget information to our office. This information is now included on our website here<www.sbceo.org/domain/256>.
ACTION: Please complete the 45-Day Budget Revision Survey<forms.office.com/r/5M5sYascn1> (Due July 31)
The “Common Message” is currently under development. When it arrives, we will post it on the webpage for consideration in revising your district’s budget. Please visit the website periodically to check for updates on the availability of this and other important items – we will post as soon as we receive them.
If you have questions or need assistance, please contact your District Financial Advisor.
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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Year-End Close Information and Resources

Dear School Business Professionals,
[Text, calendar Description automatically generated] The Year-End Close webpage<www.sbceo.org/domain/293> is available with the SBAS Year-End Close Calendar<sbas.sbceo.org/Escape/FiscalYearEndCloseCalendar20232024.pdf>, Checklist<sbas.sbceo.org/Escape/DistrictYECloseCheckList2024.pdf> and a variety of other materials to assist you. It is our intent to expand this page to include additional resources in the future, so please continue to check back for updates.

* Survey – Due July 26th We are requesting districts to complete a brief Year-End Close Planning survey<forms.office.com/r/gu1xd1Tqhb> to indicate the date the Unaudited Actuals Report will be going to the board. * Year-End Close Checklist – When completed, please use the File Upload<sbas.sbceo.org/docs/fileuploads.shtml> function on the SBAS website to upload a copy of the completed checklist<sbas.sbceo.org/Escape/DistrictYECloseCheckList2024.pdf> along with all the listed reports to SBAS for review and processing. * Year-End Close Manual – We have continued developing a district Year-End Close Manual<sbas.sbceo.org/Escape/DistrictFiscalYearEndCloseManual202324.pdf> to assist you with the closing process. A draft of the manual can be accessed from the webpage<sbasweb.sbceo.org/finance/year-end-close> in the Toolbox section and will be expanded upon in future years. * Soft Close – Due August 30th – The soft close provides a window of opportunity for our staff to review the submission documents, checking for errors and omissions as a service to our districts, and notify districts of any necessary changes prior to completion of the Unaudited Actuals. This preview helps mitigate potential errors when completing Unaudited Actuals in SACS and ensures a smooth close of the prior year general ledger in Escape. * Unaudited Actuals Report – Due Sept. 15* (board approved) * Due dates are established in law unless otherwise noted. In accordance with Government Code (GC) 6700, GC 6707, and GC 6803, if the due date falls on a Saturday, Sunday, or holiday, the reporting date shall be the following workday. Unless stated otherwise, “days” means calendar days. It is our goal to make this process as smooth and efficient as possible. If you have any questions, please contact our Finance Team: Daisy Lazaer, Financial Analyst; 805-964-4711 x5295 Chris Rhodes, Financial Analyst; 805-964-4711 x5226 Alejandro Baeza, Finance Systems Supervisor; 805-964-4711 x5372
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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ANNUAL NOTIFICATIONS: Non-Voter Approved Debt and Proposed Collective Bargaining Agreements

Dear School Business Officials,
This is an annual reminder regarding the required public disclosures for Non-Voter Approved Debt and Proposed Collective Bargaining Agreements. Information is included on our website year-round for your reference, including education and government codes, requirements, disclosure forms, articles, timelines, etc.
Please click on the following links for information related to these public disclosures:
* Non-Voter Approved Debt<sbasweb.sbceo.org/reporting/public-disclosure-of-non-voter-approved-debt> * Proposed Collective Bargaining Agreements<sbasweb.sbceo.org/reporting/public-disclosure-of-proposed-collective-bargaining-agreements>
If you need assistance in preparing any of these documents, please contact your District Financial Advisor.
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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