CA SB799

Requires school district governing boards to adopt policies establishing procedures for reporting fund balances as reflected in governmental fund financial statements, including annual public reports at budget adoption meetings.

Changes the maximum allowable unassigned ending balances in a school district's general fund and special reserve fund from 17% to 15% of those funds in fiscal years immediately following transfers to the Public School System Stabilization Account.

Requires school districts proposing budgets with unassigned ending balances exceeding the state-recommended reserve for economic uncertainties to provide specified information for public review and discussion, including reasons for excess balances.

Authorizes county superintendents to grant exemptions from the 15% cap for up to two consecutive fiscal years within a three-year period if schools document extraordinary fiscal circumstances such as multiyear infrastructure or technology projects.

Requires governing boards to report assigned and unassigned fund balances in public meetings at budget adoption, including the amounts, intended purposes, expected expenditure timelines, and any changes from the previous report; applies to school districts with at least 2,501 units of average daily attendance.