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California School Fiscal Services

Providing comprehensive business office and consulting services to K-12 traditional schools and charters

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Cash Deferrals - Our hopes quashed again!

Posted on June 18, 2014 at 9:35 AM Comments comments (1437)

We all know that Governor Brown had proposed to eliminate cash deferrals commencing with the 2014-15 Budget. In case you missed this with the recent legislative approval, (Brown can still veto) it looks like we will still face deferrals in 2014-15.

 To save you all some time, here is a reminder of where we are at with cross-year deferrals:


At the SSC May Revise conference, they wisely recommended that we maintain these deferrals in our preliminary budgets until the state budget was finalized. Hopefully, you all did just that. If not, then it's time to go back to the drawing board and run your numbers again.

 Charter schools typically have it even rougher in that they usually experience additional lag time because the funds must pass through their sponsoring district. Be sure to consider this when creating or reviewing cash flow documents. Better to assume you will receive the funds later and make a plan to borrow than be caught without enough cash in July or August.

 

I am certain that we all remember what happens if we run out of cash.....did we drill that into your head enough during the program? :)