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Olsen, Fuller to Announce Bill to Restore School District Budget Reserve Authority

FOR IMMEDIATE RELEASE August 15, 2014By: Allison Wescott, Communications Director - Office of Assemblymember Kristin Olsen
Office: 916-319-2012

SACRAMENTO – Assembly Republican Leader-Elect Kristin Olsen (R-Modesto) and Senator Jean Fuller (R-Bakersfield) will hold a press conference on Monday to announce their bill that would restore the ability of school districts to save money for a rainy day in reserve accounts, which was restricted in the recently enacted 2014-2015 State Budget.

WHO:	Assembly Republican Leader-Elect Kristin Olsen, R-Modesto Senator Jean Fuller, R-Bakersfield Wesley Smith, Executive Director, Association of California School Administrators, and former Superintendent of Morgan Hill Unified School District Josephine Lucey, President, California School Board Association, Cupertino Union School District board member Beverly Heironimus, Assistant Superintendent, Business - Dublin Unified School District, California Association of School Business Officials Pam Able, Superintendent, Modesto City School District
WHAT:	Press Conference to announce introduction of Assembly Bill 146 to eliminate cap on school reserves

WHEN:	Monday, August 18, 2014 10:00 A.M.

WHERE:	California State Capitol – South Steps

BACKGROUND:	Senate Bill 858 (Budget) enacted strict limitations on the ability of school districts to maintain prudent budget reserves. This provision was added in at the last minute during the budget process and will be implemented upon passage of Proposition 2 (The Rainy Day Fund).

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