Recently, OUSD closed their financial books for the 2018-2019 school year. One important piece of good news on the budget is that the district has built up their unrestricted reserve to a level that is 3.5% of the overall OUSD budget.
So what exactly is an “unrestricted reserve,” and how much is the right amount for OUSD to keep in its reserves? Watch the video below to get an explanation.
The “close of books” report shows some evidence that OUSD is improving its budgeting practices. When we look only at the district’s unrestricted funding – the majority of the district’s money, which can be used for any purpose – we see that OUSD’s end-of-year revenue and expense estimates last year were very close to the actual numbers published in the close of books.
OUSD’s next report will be the First Interim Report of the 2019-2020 budget and will be released in mid-December. Stay informed with analysis from our Budgeting for Impact campaign, which focuses on:
- Transparency: Making complicated budget information easily understood
- Smarter spending: Ensuring the district is maximizing the impact of every dollar and that this money is supporting students that need it most.
- More money for schools: Supporting statewide efforts to increase revenue for education as well as local parcel taxes and other measures that could help increase funding for Oakland schools.
Subscribe to School Board Watch to get a roundup of the most important items being discussed at the school board meetings.