Title
a. Approve a request for a County General Fund cash flow advance for Gonzales Unified School District School Facilities Improvement District Debt Service Fund.
b. Authorize and direct the Auditor-Controller to amend the FY 2025-26 Adopted Budget for the Auditor-Controller’s Office (001-1110-AUD001-8372 Disbursements), to increase appropriations by $1,087,814 financed by a decrease in appropriations in General Fund Contingencies (001-1050-CAO020-8034) (4/5th Vote Required).
c. Authorize the Auditor-Controller to execute a transfer of $1,087,814 from General Fund 001, Appropriation Unit AUD001, to Gonzales Unified SFID No. 1, Fund 810 (4/5th Vote Required).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Approve a request for a County General Fund cash flow advance for Gonzales Unified School District School Facilities Improvement District Debt Service Fund.
b. Authorize and direct the Auditor-Controller to amend the FY 2025-26 Adopted Budget for the Auditor-Controller’s Office (001-1110-AUD001-8372 Disbursements), to increase appropriations by $1,087,814 financed by a decrease in appropriations in General Fund Contingencies (001-1050-CAO020-8034) (4/5th Vote Required).
c. Authorize the Auditor-Controller to execute a transfer of $1,087,814 from General Fund 001, Appropriation Unit AUD001, to Gonzales Unified SFID No. 1, Fund 810 (4/5th Vote Required).
SUMMARY/DISCUSSION:
The Gonzales Unified School District (GUSD) has two areas for issuance and repayment of bond indebtedness: a districtwide area and a School Facilities Improvement District (SFID) area within the larger districtwide area. An administrative error in the bond repayment tax rate calculation caused the GUSD bond tax rate to not be levied in the districtwide area, and the SFID area was over-levied from Fiscal Year 2021-2022 through 2024-25. It has been estimated that approximately 2,100 parcels in the SFID were overcharged and approximately 850 ...
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