Important Information about the LCFF Apportionment – June and July
In June, our office received an overall negative LCFF apportionment from the CDE, due primarily to EPA revenues coming in higher than anticipated, resulting in some districts being overpaid in State Aid. Therefore, a temporary cash loan was posted between districts dated 06/30/2022 (CT22-01504) to provide cash to those districts that were due a payment in June. This loan was reversed dated 07/27/2023 (CT23-00128).
The June and July LCFF Apportionments were both posted in July dated 07/27/2022 (CT23-00138). Due to the unusual circumstance of the negative June Apportionment, SBAS also prepared and posted accruals for the June LCFF Apportionment dated 06/30/2022 (CT22-01510) and the accrual reversals in the current year, dated 07/27/2022 (CT23-000146). Each district’s total cash received from the June and July Apportionments has been verified by our office.
Please review and if you have questions regarding these transactions, contact your district’s Financial Analyst — Daisy or Chris.
The 2021-22 Annual Property Tax report will be sent out to districts within the next week and at that time districts can prepare their final LCFF accruals.
Regards,
School Business Advisory Services Team Santa Barbara County Education Office
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