Education finance: budgets: long-term obligations.

Existing law, on or before July 1 of each fiscal year, requires the county board of education to adopt an annual budget for the budget year and file the budget with the Superintendent of Public Instruction, the county board of supervisors, and the county auditor. Existing law requires the Superintendent to examine the budget, as specified, and, on or before August 15, approve or disapprove the budget. This bill would authorize the Superintendent to disapprove the adopted budget of a county board of education if it does not disclose the long-term actuarial obligations of the county office of education, including, but not limited to, the debts and retiree obligations of the county office of education. Existing law, on or before July 1 of each fiscal year, requires the governing board of a school district to, among other things, adopt a budget and file that budget with the county superintendent of schools within 5 days of the adoption or by July 1, whichever occurs first. Existing law requires the county superintendent of schools to examine the budget, as specified, and, on or before August 15, approve, conditionally approve, or disapprove the adopted budget. This bill would authorize the county superintendent of schools to disapprove the adopted budget of a school district if it does not disclose the long-term actuarial obligations of the school district, including, but not limited to, the debts and retiree obligations of the school district.