CASBO Resources

Reopening California's Schools: A FCMAT + F3Law Discussion on Considering Surplus District Property

Posted by Sara Bachez on Jun 19, 2020 10:00:00 AM
Sara Bachez
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Due to the deep decline in California’s economic conditions as a result of the COVID-19 pandemic, districts face steep budget cuts, with potentially devastating effects on school programs and staffing levels.

 
In response to this, Gov. Newsom’s budget proposal provides increased flexibility for districts to use proceeds from the sale and lease of surplus property for General Fund purposes.*
 
To learn more, we invite you to listen in on this recorded session in our summer webinar series to hear Michael Fine, CEO of the Fiscal Crisis & Management Assistance Team, and Kelley Owens, partner with Fagen Friedman & Fulfrost LLP, discuss key considerations, including:
 
-Legal requirements and best practices for deciding when and how to sell;
 
-Restrictions and considerations for use of proceeds of sale of property; and
 
-What you should do to assess potential sale, such as creating an inventory of current property, examining enrollment projections and considering community opinion on the sale of district sites.
 
 
*Though it's not yet known if this provision will be included in the Legislature's final budget bill, we're grateful to our experts for preparing this content in case this item stays in the final budget.

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COMING SOON: View Q&A for This Session

 

 

 

 

Topics: School Business Professional, Coronavirus, Chief Business Official, Governmental Relations, COVID-19, Reopening California Schools, California Schools, CBO, Fiscal Considerations, Facilities, HR, Advocacy, FCMAT, Budget, Economic Crisis, California Politics, F3Law, Fagen Friedman & Fulfrost LLP, Surplus Property