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School board accepts financial audit, discusses governor's budget proposal

The San Ramon Valley school board received mostly positive news Tuesday from its 2012-13 independent financial audit.

Auditing firm Vavrinek, Trine, Day & Co. rendered an unmodified opinion, determining the district's financial statements were free of material misstatements and fairly represented the district's actual financial situation at the end of last fiscal year.

The auditor did, however, note reporting deficiencies in three areas.

"Overall, these are relatively minor issues, it should be stated," board clerk Greg Marvel said during the audit presentation Tuesday night in Danville.

The areas of concern, according to the auditor's report, were with the district failing to properly obtain or maintain receipts for some cafeteria purchases, using an incorrect accounting designation for proceeds from certain bonds refunded in advance and managing vacation accrual, with some long-time employees having more unused vacation time than allowed under current board policy.

In each case, the San Ramon Valley Unified School District either fixed the issue or developed an appropriate correction plan, according to the auditors.

The Board of Education members voted unanimously to accept the 2012-13 audit as presented.

In other financial business Tuesday, the board received a report from district staff about the local impacts of Gov. Jerry Brown's 2014-15 state budget proposal.

Released earlier this month, the governor's plan calls for billions in new K-12 funding statewide.

Early estimates based on Brown's proposal indicate that SRVUSD would receive an increase of almost $16.9 million, or 8.6 percent, in per-pupil funding next fiscal year, said Scott Anderson, the district's chief business officer.

Most board members said the additional money would be a positive development, but it would by no means show that the district is adequately funded, especially when compared to pre-recession funding levels and projections.

"We're not where we need to be," Marvel said. "Even with increased revenue that we're getting, we're still way under where we were in 07-08."

Since 2008, the SRVUSD has lost out on nearly $250 million in potential funding -- roughly equivalent to current annual revenues for the district -- because of funding changes and cutbacks as a result of the recession, according to Anderson.

"That's an entire year's budget wiped out in five years," board member Mark Jewett said. "It's staggering."

The governor's revised state budget is set to be unveiled mid-May. SRVUSD officials are in the process of developing the district's Local Control Accountability Plan and proposed 2014-15 budget.

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