§ 16027 Year-Round School Bond Debt

When a school district runs a year‑round school and uses a building that got money from the board, the director must add the bond‑pay‑off cost to the amount they report to the controller.

Key Takeaways

•Only applies in years when a district runs a year‑round or continuous school program.
•Only for facilities that received financial help under Section 16026.
•The director must add the bond‑pay‑off amount to the regular certification amount.

Example

A district runs a continuous school program in a new elementary building that was built with state aid.

The director will take the normal amount they have to certify to the controller and then add the yearly payment needed to retire the bonds that funded the building.

How to Calculate

CertifiedAmount = BaseAmount + DebtService

Find the BaseAmount – the amount the director normally has to certify under Sections 16072, 16084, and 16086.
Find the DebtService – the yearly payment required to retire the bonds that were authorized under Section 16026.
Add the two numbers together to get the CertifiedAmount that is sent to the controller.

The director’s normal certification is $1,000,000 and the bond retirement payment for the building is $200,000.

Result: CertifiedAmount = 1,000,000 + 200,000 = 1,200,000

In any fiscal year in which the school district is conducting a year-round school operation or continuous school program, as defined in Section 16030, utilizing a facility for which financial assistance was provided by the board under Section 16026, the Director of General Services shall add to the amount which he or she is required to certify to the Controller under Sections 16072, 16084 and 16086 an amount equal to the debt service for retirement of bonds authorized for use under Section 16026. (Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

When a school district runs a year‑round school and uses a building that got money from the board, the director must add the bond‑pay‑off cost to the amount they report to the controller.

Key Takeaways

•Only applies in years when a district runs a year‑round or continuous school program.
•Only for facilities that received financial help under Section 16026.
•The director must add the bond‑pay‑off amount to the regular certification amount.

Example

A district runs a continuous school program in a new elementary building that was built with state aid.

The director will take the normal amount they have to certify to the controller and then add the yearly payment needed to retire the bonds that funded the building.

How to Calculate

CertifiedAmount = BaseAmount + DebtService

Find the BaseAmount – the amount the director normally has to certify under Sections 16072, 16084, and 16086.
Find the DebtService – the yearly payment required to retire the bonds that were authorized under Section 16026.
Add the two numbers together to get the CertifiedAmount that is sent to the controller.

The director’s normal certification is $1,000,000 and the bond retirement payment for the building is $200,000.

Result: CertifiedAmount = 1,000,000 + 200,000 = 1,200,000

Key Takeaways

Example

How to Calculate

Key Terms

References

§ 16027 Year-Round School Bond Debt

Key Takeaways

Example

How to Calculate

Key Terms

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References