Big Bear Valley, CA, July 15, 2010, 12:14pm – At the last regularly scheduled meeting of the Bear Valley Unified School District, a summary of the District’s 3rd Interim Report from the San Bernardino County Superintendent of Schools was presented to the Board of Trustees as required by law regarding the fiscal solvency of the district. The fiscal certification of BVUSD is qualified at this time. The end of year projection indicates that the district has been able to reduce expenditures in the current year due to a detailed review of current staffing and categorical program funding levels. The Budget Committee was able to identify additional budget reductions to be implemented in 2009-2010 and in the two subsequent fiscal years. The District has submitted a fiscal plan for additional reductions for fiscal year 2011-2012 to maintain a 4% reserve level as recommended by the governing board. As advised by the San Bernardino County Superintendent of Schools, BVUSD will need to closely monitor expenditures in future years to ensure that the trend of deficit spending is eliminated to ensure future fiscal solvency. Their concern, at this time, is that there is a possibility of the District falling below the state required reserves in the 2012-2013 fiscal year if deficit spending continues. The State requires a minimum reserve of 3%. The next regularly scheduled meeting of the Bear Valley Unified School District is July 21st.