BILL NUMBER: AB 2689INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Gray FEBRUARY 19, 2016 An act to amend Section 42610 of the Education Code, relating to school finance. LEGISLATIVE COUNSEL'S DIGEST AB 2689, as introduced, Gray. School district funds: expenditures and appropriations: excess funds. Existing law requires any amounts added to the general reserve of the school district in excess of the amount already budgeted to not be available for the appropriation by the school district for the current fiscal year, except as provided. This bill would make nonsubstantive changes to this law. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 42610 of the Education Code is amended to read: 42610. (a) Any amounts added to the general reserve of the school district in excess of the amount already budgeted shall not be available for appropriation by the school district for the current fiscal year except by the following procedure. The governing board of the school district shall, by formal action of the board, pass a resolution setting forth the need according to major classification of school district expenditures to be met fromanya portion of the general reserve derived from assured income in excess of the total amount anticipated in the budget. The resolution shall be submitted to the county superintendent of schools.The(b) The county superintendent of schools shall approveanya resolution for the appropriation of income to the extent that the income was not anticipated in the budget of the school district.On(c) On the first day of July of each year, the general reserve together with unexpended balances of appropriations and income in excess of anticipated income for the preceding fiscal year shall be placed to the credit of the school district, and the school district shall include all money so credited in the balance shown in the budget for the ensuing fiscal year.