Legal Resources | Title 5 | T5 58314
Chapter 9 Fiscal Support Subchapter 4 Budgets and Reports Failure of Procedures to Achieve District Financial Stability; Authorized Actions of Chancellor
If the procedures pursuant to sections 58310 and 58312 fail to achieve district financial stability, as determined by the Chancellor, the Chancellor shall do any or all of the following:
(a) Reduce or withhold any apportionment to the district in any amount he or she deems appropriate.
(b) Report to the Board of Governors and the chairs of the educational policy and fiscal committees of both houses of the Legislature, the Director of Finance, and the Governor regarding the reasons for the continuing lack of fiscal stability at the district, any actions taken against the district, and the Chancellor's recommendations regarding further steps necessary to restore the district to fiscal stability or solvency or to bring it into compliance with the principles of sound fiscal management.
(c) Seek an emergency apportionment pursuant to section 58316.
Authority cited:
Education Code 66700
Education Code 70901
Education Code 84040
Reference:
Education Code 70901
(Amended by Register 2004, No. 39)