Sacramento City Unified School District Technical Assistance Letter

April 30, 2026 Cancy McArn, Interim Superintendent Sacramento City Unified School District 5735 47th Ave. Sacramento, CA 95824 Dear Interim Superintendent McArn: In April 2026, the Sacramento City Unified School District and the Fiscal Crisis and Management Assistance Team (FCMAT) entered into an agreement for FCMAT to review the district’s fiscal solvency through the development of a cash flow analysis. The agreement stated that FCMAT would perform the following: 1. FCMAT will review the district’s 2025-26 second interim budget and use it as a baseline to develop a cash flow analysis for the current and subsequent fiscal year to determine if the district will require an emergency advance apportionment. In March 2026, the team conducted its work offsite while the district provided financial reports and other information for review. From April 14-16, team members visited the district to gather and examine additional information, followed by remote meetings on April 17 with staff from the Sacramento County Treasurer and the Sacramento County Office of Education. Following this fieldwork, FCMAT continued to review and ana- lyze the information obtained. This letter presents the team’s findings. FCMAT appreciates the opportunity to serve the Sacramento City Unified School District and thanks district staff for their assistance throughout fieldwork. Sincerely, Erin Lillibridge Chief Analyst 1300 17th St. – City Centre, Bakersfield, CA 93301-4533 Tel. 661-636-4611 • Fax 661-636-4647 www.fcmat.org Summary Sacramento City Unified School District is governed by a seven-member board and serves approximate- ly 41,868 students in transitional kindergarten through grade 12 across 82 schools, including 15 charter schools, based on 2025-26 California Department of Education (CDE) DataQuest data. The district is the 14th largest in California (CDE). In 2025-26, approximately 67.5% of students were socioeconomically disad- vantaged and 18.2% were English learners (DataQuest). The district’s unduplicated pupil percentage1 was 68.1%, as reported in the 2025-26 First Principal Apportionment (P-1). The district is fiscally accountable, meaning it issues its own payroll and commercial warrants, and operates an independent financial system separate from the Sacramento County Office of Education. In October 2025, following completion of the district’s 2024-25 unaudited actuals, the Sacramento County Superinten- dent of Schools determined that the district lacked going concern.2 The unaudited actuals reflected signif- icant erosion of cash and fund balance, including a projected negative unrestricted general fund ending balance of $19.1 million and indicators of potential cash insolvency in the current fiscal year. In December 2025, FCMAT completed a fiscal health risk analysis and concluded that the district faced a high risk of fiscal insolvency. In March 2026, the Sacramento County Superintendent of Schools requested that the district engage FCMAT to complete a cash flow analysis based on the district’s 2025-26 second interim projections to estimate the timing and magnitude of potential cash insolvency. As part of its anal- ysis, FCMAT evaluated the district’s ability to manage projected cash shortfalls through both internal and external borrowing. Absent internal or external borrowing, the district is projected to experience sustained negative cash balances throughout the 2026-27 fiscal year, reflecting a structural cash shortfall rather than a temporary timing issue. Internal borrowing capacity is limited. Given the district’s projected deficit spending, any interfund borrowing is unlikely to be repaid as statutorily required. In addition, projected cash deficits are expected to exceed the maximum amount available through external borrowing from the county by the end of December 2026. With all available borrowing sources exhausted, the district faces a high risk of cash insolvency in February 2027. As the district considers requesting an emergency advance apportionment, district leaders should evaluate the immediate costs associated with insolvency, including borrowing costs, the expense of a comprehen- sive assessment, and the appointment of an administrator. They should also consider the realistic time- frame required to reduce deficit spending and rebuild the district’s cash position and fund balance. The remainder of this letter presents the findings of FCMAT’s analysis. 1Unduplicated pupil percentage (UPP) is the measure used to calculate Local Control Funding Formula (LCFF) supplemental and concentration grants. UPP represents the percentage of students who are English learners, foster youth, or eligible for free or reduced-price meals, with each student counted once regardless of how many criteria they meet. For LCFF purposes, UPP is calculated using a three-year rolling average. 2Lack of going concern is a condition indicating substantial doubt about an organization’s ability to continue operations and meet its financial obligations during the current and subsequent fiscal year. 2 Cash Flow Analysis Background During the 2025-26 budget cycle, the materially lower-than-expected beginning balance, combined with accelerating deficit spending, significantly weakened the district’s combined general fund3 position. Al- though the district has begun developing and implementing corrective actions through a fiscal solvency plan, the magnitude and pace of the projected deficit has exceeded available reserves and planned reduc- tions, setting the context for the solvency and cash flow challenges detailed below. At adoption of the 2025-26 budget, the district projected a beginning combined general fund balance of $195.4 million, based on its 2024-25 estimated actuals. When unaudited actuals were reported in Sep- tember 2025, deficit spending for 2024-25 was significantly higher than estimated, primarily affecting the unrestricted general fund. As a result, the district’s 2024-25 ending combined general fund balance totaled $157.1 million — $38.3 million lower than anticipated — and was carried forward as the beginning balance for 2025-26. At first interim in December 2025, the district projected an additional $43.3 million in deficit spending be- yond what had been assumed in the adopted budget. While this increase partially reflected updated prior year results, projections worsened further at second interim. By March 2026, projected deficit spending had increased by another $79.7 million. This brought total projected deficit spending for 2025-26 to $217.7 million and resulted in a projected combined general fund ending balance at June 30, 2026 of approxi- mately negative $60.6 million. In response to its deteriorating financial position, the district has continued to advance a fiscal solvency plan and, at second interim, identified approximately $63.3 million in authorized expenditure reductions for 2025-26 and $77.8 million for 2026-27. Some of those savings may not fully materialize (for example, pending completion of the reduction-in-force process), and even if all quantified solutions are achieved, the district’s 2025-26 second interim indicates a combined general fund ending balance of approximately negative $205.6 million in 2026-27. Unrestricted General Fund The unrestricted general fund balance is a school district’s primary indicator of fiscal solvency and available reserves. Because restricted funds must be used for legally or programmatically designated purposes and are not available to support general school district operations, restricted balances are excluded from re- serve and solvency analyses. Accordingly, this section focuses on changes to the unrestricted general fund during the 2025-26 fiscal year. At adoption, the district’s budget assumed a positive unrestricted general fund ending balance of $24.2 million as of June 30, 2026. Subsequent reporting, however, showed a steady deterioration in this position, with the balance declining to negative $19.1 million at unaudited actuals, negative $34.2 million at first inter- im, and negative $108.2 million at second interim. Figure 1 on the following page illustrates changes in the district’s unrestricted general fund balance over the 2025-26 budget reporting cycle. 3Combined general fund is the sum of the district’s unrestricted and restricted general fund balances. 3 Unrestricted General Fund Balance, 2025-26 $40,000,000 $20,000,000 $24,218,634 $0 Adopted Unaudited First Second Budget Actuals Interim Interim -$19,062,211 -$20,000,000 -$34,167,427 -$40,000,000 -$60,000,000 -$80,000,000 -$100,000,000 -$108,211,340 -$120,000,000 Figure 1. Column chart showing changes in the district’s unrestricted general fund balance across the 2025-26 budget reporting periods. Sources: District’s 2024-25 unaudited actuals financial report and 2025-26 adopted budget, first interim, and second interim financial reports. Cash Flow Management To manage temporary cash flow needs, school districts may rely on interfund borrowing or other short-term financing mechanisms. When such borrowing reflects timing mismatches between expenditures and rev- enue receipts and remains within legal limits, it does not, by itself, indicate insolvency. A negative ending fund balance, however, signals significantly elevated fiscal risk because it places a school district under increasing cash flow pressure that, absent prompt corrective action, directly threatens fiscal solvency. In- solvency occurs when a school district has exhausted both available cash and legal borrowing options and can no longer meet its financial obligations, most notably, employee payroll. Under Education Code (EC) 42603, interfund borrowing is limited to 75% of the maximum cash balance held in any fund or account during the current fiscal year. Borrowed amounts are not available for appropriation or considered revenue to the borrowing fund and must be repaid within the same fiscal year or, if borrowed within the final 120 calendar days, by the end of the subsequent fiscal year. Statute further specifies that such borrowing should occur only when the receiving fund will earn sufficient revenue during the fiscal year to repay the amount transferred. Certain funds, such as the cafeteria fund and capital facilities fund, are subject to additional statutory or regulatory restrictions. School districts engaging in interfund borrowing should also ensure that all funds retain sufficient resources to meet their own financial obligations. In addition, EC 42620 authorizes counties to provide temporary cash advances to school districts expe- riencing short-term cash shortfalls, limited to 85% of revenues expected to accrue during the fiscal year. 4 Article XVI, Section 6 of the California Constitution further restricts the timing of such advances, prohibiting county treasurers from issuing loans before the first day of the fiscal year or after the last Monday in April. These advances are made against anticipated property tax revenues, which are distributed by counties to school districts in December and April. While such advances do not carry a direct financing cost, they reduce potential interest earnings while outstanding, and terms and conditions may also vary by county. District Temporary Cash Borrowing Internal Borrowing Capacity The district’s most recent governing board resolution authorizing interfund borrowing, Resolution No. 3337, was approved on August 17, 2023. That resolution authorized temporary interfund borrowing only for the 2023-24 fiscal year and required all transfers to be approved by the superintendent or designee. As of the date of this report, no governing board resolution authorizing interfund borrowing is in effect for the 2025-26 fiscal year. The district has placed a resolution authorizing temporary interfund borrowing on the agenda for consideration at its April 30, 2026 board meeting. In addition, the district has not complet- ed cash flow projections for funds other than the general fund, which is essential to determining whether resources are available for borrowing without jeopardizing a fund’s ability to meet its own obligations. Table 1 summarizes the district’s estimated internal borrowing capacity as of April 15, 2026. Although cash balances across all district funds totaled approximately $228.9 million on that date, statutory and operation- al constraints significantly limit the amount available for interfund borrowing. After excluding funds that are legally restricted, designated for planned transfers, or projected to have insufficient or negative balances, and applying the statutory 75% borrowing limitation, the district’s estimated internal borrowing capacity totals approximately $36.6 million. Table 1. Internal Borrowing Capacity Analysis Cash balances as of April 15, 2026 Amount Total cash in county treasury (all funds) $228,858,586 Less: General fund4 and funds with negative or insufficient balances $57,206,033 Less: Funds not legally available for borrowing $110,107,254 Less: Self-insurance fund transfer into the general fund (part of fiscal solvency plan) $9,000,000 Less: Charter school fund transfer into the general fund (part of annual budget) $3,755,880 Total funds potentially available $48,789,419 Applied borrowing limit 75% Maximum estimated internal borrowing capacity $36,592,064 Sources: District financial system report, Fiscal16a (Account Component Summary-Balance) filtered for Object 9110 (Cash in the County Trea- sury), as of April 15, 2026; and 2025-26 second interim financial report. 4General fund balances reported in this analysis include the district’s payroll clearing account, which is maintained in Fund 76. 5 While EC 42603 generally permits interfund borrowing, it applies only to funds with legally available cash. Funds restricted by statute, voter approval, or debt or fiduciary5 agreements are effectively excluded from borrowing eligibility. Accordingly, Tables 2 through 4 group district funds based on FCMAT’s assessment of their availability to support temporary interfund borrowing, distinguishing among potentially available funds, funds with projected insufficient or negative balances, and funds that are not legally available. Table 2 summarizes funds with positive cash balances as of April 15, 2026, and projected positive ending fund balances as of June 30, 2026, that could be considered for temporary interfund borrowing, subject to cash flow timing, legal requirements and programmatic needs. Table 2. Funds Potentially Available for Internal Borrowing Fund Description Fund-Specific Constraints and Considerations Cash balance of $10.7 million as of April 15, 2026. Projected deficit spending of $5.0 million 09 Charter Schools at the 2025-26 second interim, excluding a projected transfer of more than $3.8 million to the general fund. The fund has a total projected ending fund balance of $4.0 million. Limited cash balance of $219,336 as of April 15, 2026. Per CDE guidance, borrowing is allowable only if it does not jeopardize program operations or reduce fund balances below 13 Cafeteria three months of operating costs. Any borrowing must be documented through a formal, inter- est-bearing loan agreement. The fund has a total projected ending balance of $10.1 million. Cash balance of $37.0 million as of April 15, 2026. Government Code 66006(a) requires that interest earnings remain in the fund; therefore, any amounts borrowed must be fully repaid 25 Capital Facilities (Developer Fees) with interest. In addition, the fund is used to partially pay debt service on the district’s lease revenue bonds, totaling approximately $4.5 million in 2025-26, which further constrains cash availability. The fund has a total projected ending balance of $38.6 million. Cash balance of $13.6 million as of April 15, 2026. Projected deficit spending of $1.3 million at the 2025-26 second interim, excluding a projected $9.0 million transfer to the general fund 67 Self-Insurance under the district’s fiscal solvency plan. The fund has a total projected ending balance of $1.6 million. Sources: FCMAT analysis, district’s 2025-26 second interim financial report, and Fiscal16a Financial Report. Table 3 summarizes funds that are excluded from internal borrowing because projected negative cash posi- tions or ending balances insufficient to support operations limit their ability to support temporary interfund borrowing, based on projected June 30, 2026 ending fund balances. Table 3. Funds Not Sufficient to Support Internal Borrowing Fund Description Fund-Specific Constraints and Considerations Negative cash balance of $3.1 million as of April 15, 2026. Projected deficit spending of $2.4 million at the 2025-26 second interim, excluding a projected transfer of more than $1.9 million 11 Adult Education from the general fund and child development fund. The fund has a total projected ending balance of $2,779. Cash balance of $4.9 million as of April 15, 2026. Projected deficit spending of $4.1 million at 12 Child Development the 2025-26 second interim, excluding a projected transfer of approximately $287,000 to the adult education fund. The fund has a total projected ending balance of $131. Nonmaterial cash balance available as of April 15, 2026 at $2,358. The fund has a total pro- 35 County School Facilities jected ending balance of $3,343. Nonmaterial cash balance available as of April 15, 2026 at $40,036. The fund has a total 61 Cafeteria Enterprise projected ending balance of $85,638. Sources: FCMAT analysis, district’s 2025-26 second interim financial report, and Fiscal16a Financial Report. 5Fiduciary refers to a relationship in which the district holds and manages assets on behalf of others and may not use those assets for its own purposes. 6 Table 4 summarizes funds with cash balances that are legally restricted, fiduciary in nature, or otherwise prohibited from use for internal borrowing. Table 4. Funds Not Legally Available for Internal Borrowing Fund Description Fund-Specific Constraints and Considerations Fiduciary fund held in trust for student organizations. Cash represents student-raised funds, is maintained in local bank accounts rather than the county treasury, and is not legally 08 Student Activity available for district operating purposes or internal borrowing. The fund has a total projected ending balance of $1.7 million. Restricted fund holding voter-approved general obligation bond proceeds that may be used only for authorized capital project purposes. Temporary use of bond proceeds for operating 21 Building cash flow or interfund borrowing poses significant legal, regulatory and financial risks, as outlined in the California Debt and Investment Advisory Commission (CDIAC) Issue Brief No. 19-06. The fund has a total projected ending balance of negative $221.3 million. Restricted fund used for facilities financed by Mello-Roos Community Facilities Districts (CFDs). Cash balances consist of legally restricted CFD proceeds and tax revenues dedicat- ed to specific voter-approved improvements and services and are not available for operating 49 Capital Projects (CFDs) purposes or interfund borrowing. In addition, the fund is used to partially pay debt service on the district’s lease revenue bonds, totaling approximately $1.0 million in 2025-26. The fund has a total projected ending balance of $5.0 million. Restricted fund used solely for the payment of bond principal, interest, and related costs. 51 Bond Interest and Redemption Cash balances are restricted by statute and debt covenants and are not available for inter- fund borrowing. The fund has a total projected ending balance of $70.0 million. Sources: FCMAT analysis and district’s 2025-26 second interim financial report. External Borrowing from the County Treasury The district has not adopted a governing board resolution acknowledging the potential use of temporary cash advances from funds held by the county treasurer under EC 42620. Although Sacramento County does not require formal board authorization to access this borrowing, other school districts statewide have adopted such resolutions to promote transparency and strengthen fiscal oversight. County treasury property tax advances are not available to address projected negative cash balances for the remainder of the 2025-26 fiscal year because constitutional provisions prohibit these temporary cash advances beyond the last Monday in April. Accordingly, any borrowing under EC 42620 would be limited to addressing cash flow needs in 2026-27. Each year on July 1, the Sacramento County Treasury Division automatically provides school districts with a cash flow advance equal to 85% of their estimated annual property tax revenues.6 For the 2026–27 fiscal year, the district’s total property tax revenue is estimated at approximately $130.7 million; based on this estimate, the district is expected to receive an advance of approximately $111.1 million on July 1, 2026. This advance does not require separate action by the district and provides cash flow support before the first major property tax distribution in December. The district does not repay these funds to the county. Rather, the July 1, 2026 advance represents an early distribution of the district’s own property tax revenues. When the first property tax distribution occurs in December 2026, the outstanding balance of the advance is reduced in half, lowering the remaining ad- vance amount to approximately $55.5 million, or 42.5% of the estimated annual total. This remaining bal- 6The property tax advance includes secured, unsecured, unitary, homeowners’ exemption, and Educational Revenue Augmentation Fund (ERAF) taxes. 7 ance carries forward until the final property tax distribution in April 2027, when the district’s annual proper- ty tax receipts fully offset the advance. June 2026 Apportionment Deferral For the 2025-26 fiscal year, the state implemented a principal apportionment deferral that delayed approx- imately $1.9 billion in current year state aid from June 2026 to July 2026. School districts that expected to be unable to meet financial obligations in June or July 2026 because of the deferral were eligible to apply for an exemption under EC 14041.8 by April 1, 2026. Although Education Protection Account (EPA) payments are not subject to deferral, EPA revenues have his- torically fluctuated during the fourth quarter, affecting the June Second Principal Apportionment (P-2) pay- ment and, consequently, the overall amount of state aid subject to deferral. Because preliminary estimates of the deferral percentage may not reflect the final amount, the CDE advised school districts to assume that the entire June payment will be deferred to July when evaluating the need for an exemption. Based on the CDE’s P-1, certified on February 18, 2026, the district’s estimated June payment totals approx- imately $30.8 million, excluding an estimated $25.7 million in fourth quarter EPA revenue. This June pay- ment includes the following funding: LCFF State Aid; Special Education; Special Education Mental Health Services; Special Education Early Intervention Preschool Grant; Expanded Learning Opportunities Program; Home-to-School Transportation Reimbursement; Proposition 28 (Arts and Music in Schools); and the LCFF Equity Multiplier. The district’s 2025-26 second interim cash flow projections estimated that the June 30, 2026 cash bal- ance would be $4.9 million; however, these projections assumed receipt of the June state aid payment on schedule. Given uncertainty surrounding the final EPA payment and the district’s limited internal borrowing capacity, the district may not have sufficient liquidity to absorb a full June deferral and therefore submitted a deferral exemption request by the April 1, 2026 deadline. For purposes of this analysis, FCMAT assumes the exemption request will be approved. Without approval, the district could experience cash insolvency as early as June 2026. FCMAT Cash Flow Projection The district began the 2025-26 fiscal year with a general fund cash balance of $237.1 million on July 1, 2025. FCMAT’s cash flow projection incorporates actual cash activity through March 31, 2026, with the remaining months projected through June 30, 2027. Assuming the June 2026 state aid and EPA payments are received on time, the projection shows the district ending the current year with a positive cash balance of approximately $19.4 million on June 30, 2026.7 Figure 2 presents the projected monthly ending cash balances for the 2026-27 fiscal year. Beginning with an estimated cash balance of approximately $19.4 million on July 1, 2026, the projection shows that the district would experience negative cash balances in every month of the year without internal and exter- nal borrowing. Because the projection reflects month-end balances only, actual cash balances during the month — particularly after payroll and other significant disbursements — are likely to fall below the amounts shown. 7Absent an approved exemption, deferral of the full June 2026 state aid payment to July would reduce the district’s projected June 30, 2026 cash balance to approximately negative $11.5 million. In this scenario, any reduction in fourth quarter EPA revenue would further worsen the year-end cash balance; in FCMAT’s projections, if the final EPA payment is zero, cash would decline to approximately negative $37.2 million, which exceeds the district’s estimated internal borrowing capacity of $36.6 million. 8 By February 2027, the district’s projected negative ending cash balance of $117.9 million is expected to exceed the maximum available internal and external borrowing capacity. These projections indicate a high risk that the district would be unable to meet ongoing financial obligations, including employee payroll, well before the end of the 2026-27 fiscal year. Under these circumstances, the district should consider taking the necessary steps to pursue the state’s emergency advance apportionment process to reduce the risk of cash insolvency. Projected Ending General Fund Cash Balances by Month, 2026-27 Figure 2. Chart showing the negative monthly cash balances projected for the 2026-27 fiscal year. Source: FCMAT cash flow projection. 9 911,514,91$ 585,737,72$- 004,896,26$- 178,332,53$- 368,610,87$- 990,843,601$- 144,909,311$- 319,817,07$- 990,578,711$- 172,956,801$- 498,451,441$- 081,818,121$- 926,161,111$- $40,000,000 g $20,000,000 n wi orr o cit y d B a e p d a e C e c x E $0 2 6 2 6 2 6 2 6 2 6 2 6 2 6 2 7 2 7 2 7 2 7 2 7 2 7 J u n - J ul - A u g- S e p- O ct- N o v- D e c- J a n- F e b- M ar- A pr- M a y- J u n - -$20,000,000 -$40,000,000 -$60,000,000 -$80,000,000 -$100,000,000 -$120,000,000 -$140,000,000 -$160,000,000 Methodology and Assumptions FCMAT’s cash flow projection is based on the most current information available at the time of preparation and relies on assumptions reflected in the district’s 2025-26 second interim budget and multiyear projec- tions. As a result, it is sensitive to changes in both revenues and expenditures. Expenditure reductions implemented before the end of the 2025-26 fiscal year could preserve cash and delay cash insolvency. Conversely, if actual expenditures exceed second interim assumptions or anticipated revenues do not ma- terialize as projected, the district could experience cash insolvency earlier than reflected in the projection. Additional detail on key assumptions, limitations and potential risks identified through FCMAT’s review of the district’s revenues and expenditures is provided below. Revenues (including Transfers In) The following points summarize key revenue assumptions incorporated into FCMAT’s cash flow projection and highlight areas where projected cash receipts may differ from the district’s cash flow assumptions or are subject to heightened risk: • Use of district financial system cash balances – Because a full monthly reconciliation of district cash balances to the county treasury had not been completed for the 2025- 26 fiscal year, the projection relies on cash balances reported in the district’s financial system. Timing differences between district-recorded interfund activity and county-re- corded cash activity may exist. • Posting and receipt timing practices – FCMAT’s cash flow projection reflects histor- ical revenue receipt and posting patterns observed in the district’s financial records. Although property tax payments are typically distributed by counties in December and April, the district’s prior year records show that these revenues were recorded in Janu- ary and May. FCMAT applied these historical posting patterns when estimating certain revenue receipts for the remainder of the 2025-26 fiscal year and for the 2026-27 fiscal year. • Prior-year accrual corrections – During the 2025-26 fiscal year, the district recorded certain revenues accrued in prior years within current year revenue accounts. FCMAT’s cash flow projection assumes these entries are substantially corrected in April 2026. While this correction does not affect the district’s overall cash balance, it affects the timing and composition of current year revenues and related cash receipts reflected in the projection. • Revenue verification – FCMAT verified projected revenues where possible using the CDE’s apportionment schedules. Certain revenue items, such as local revenues and some grant program funding, could not be independently verified using publicly avail- able sources. For these items, FCMAT relied on the district’s budgeted revenue as- sumptions and historical receipt patterns. As a result, FCMAT’s projected total revenues for 2025-26 are approximately $587,300 lower than the district’s estimate. This differ- ence is considered immaterial to the overall cash solvency analysis and is reflected in the adjustment column. • Reliance on P-1 certification – FCMAT’s cash flow projection is based on revenue as- sumptions reflected in the district’s 2025-26 second interim budget, including project- ed enrollment, average daily attendance (ADA), and state funding estimates in effect at the time of preparation. Where applicable, FCMAT relied on the CDE’s P-1 data, which 10 also forms the basis for the district’s LCFF calculations. P-2, which incorporates updat- ed ADA and property tax information, will be certified in June 2026 and will affect the amount of the June 2026 apportionment payment. • Reimbursement and reporting assumptions – The cash flow projection assumes the district completes required cash and expenditure reporting on a timely basis and fully expends all budgeted restricted balances to receive federal entitlement and other reimbursement-based revenues in accordance with the state’s established quarterly payment schedule. • Interfund transfers in the general fund – The cash flow projection includes one-time transfers to the general fund in June 2026 of approximately $3.8 million from Fund 09 (charter schools fund) and $9.0 million from Fund 67 (self-insurance fund), based on the 2025-26 second interim. Expenditures (including Transfers Out) The following points identify significant expenditure assumptions used in FCMAT’s cash flow projection and note areas where actual spending levels or timing may differ from the district’s projections, potentially affecting cash availability: • Expenditure verification – FCMAT’s cash flow projection is based on expenditure assumptions reflected in the district’s 2025-26 second interim budget and informed by prior year historical expenditure patterns and year-to-date expenditures through March 31, 2026. The analysis included a high-level review of open encumbrances and available budget balances by major expenditure category. In reviewing year-to-date activity, FCMAT considered historical year-end close practices and previously identified weaknesses in budget monitoring and purchasing, including reported delays in ac- counts payable processing and inconsistent reconciliation and accrual clearing prac- tices. These conditions increase the likelihood that some goods and services already received have not yet been fully recorded. This potential lag was incorporated into expenditure accrual assumptions, particularly in higher-cost areas such as contracted special education services. • Fiscal Solvency Plan Adjustments – The district reports that all board-approved bud- get reductions as of March 5, 2026 are reflected in its 2025-26 second interim projec- tions. These actions include $63.3 million in expenditure savings and cost avoidance in 2025-26 and $77.8 million in 2026-27. Based on FCMAT’s review, approximately $47.6 million of the projected 2026-27 savings are tied to reductions in central office staffing. Although the district issued layoff notices to all central office staff, it has not finalized its reorganization plan. As a result, it is unclear how much of the projected savings will be realized after final layoff notices are issued on May 15. This creates additional uncer- tainty in the 2026-27 cash flow analysis because monthly spending may not reflect the staffing reductions assumed in the projection. • Current year adjustments based on year-to-date activity – Based on year-to-date actual expenditure and encumbrance balances, total expenditures are projected to be approximately $26.5 million lower than the district’s 2025-26 second interim budget. This variance primarily reflects lower-than-budgeted spending in the books and sup- plies category and the services and other operating expenditures category, partially offset by an increase in certificated salary expenditures to align with actual and project- 11 ed payroll activity for the remainder of the fiscal year. These differences are reflected in the adjustment column. • Classified staff salary increase in 2025-26 – Because the 2% salary increase for cer- tain classified staff members represented by SEIU had not been paid as of March 31, 2026, the projection assumes the increase will be paid in July 2026, and the related costs of approximately $3 million were accrued accordingly. • Interfund transfers from the general fund – The projection includes a transfer of ap- proximately $1.6 million from the general fund to Fund 11 (adult education fund) in June 2026, based on the 2025-26 second interim. • Temporary interfund borrowing – The projection does not include temporary inter- fund borrowing. However, based on cash balances as of April 15, 2026, the district may need to implement temporary interfund borrowing to address a negative cash balance in the adult education fund, even after recording the planned transfers into the fund. FCMAT did not include this adjustment in the cash flow projection because it is not ma- terial to the district’s overall negative general fund cash position. Temporary borrowing is estimated to range from approximately $1.0 million to $3.0 million. 12 Appendices Appendix A – FCMAT Cash Flow Projection Appendix B – District Cash Flow Projection Appendix C – Study Agreement 13 Appendix A – FCMAT Cash Flow Projection (cid:1)(cid:2)(3=H(cid:2)S^S~Ss(cid:3)(cid:14)(cid:25)!"~#$%$%$%~&~’H)*H)%)+~#),)-,*)~.( /012045678~9:7;~<6:>5? 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(cid:18)(cid:15)r(cid:17)(cid:19)r(cid:21)pr(cid:21) r(cid:17)(cid:20)(cid:20)rp(cid:22)s (cid:23) (cid:16)(cid:16)(cid:17)(cid:15)t(cid:21)(cid:17)(cid:18)(cid:18)tpsr (cid:15)(cid:16)(cid:17)rt(cid:18)(cid:17)(cid:18)(cid:19)tp(cid:18)(cid:19) (cid:128) z<2j<q<(cid:24)7C(cid:128)28A(cid:128)|7(cid:5)7447A(cid:128)(cid:4)8E:FC (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128)(cid:128) 5OOuWPRI(cid:128)0(cid:25)(cid:7)(cid:25)(cid:12)L$ /h’’(/h// %’h(cid:8),-)(cid:8)’/+&’’ V+(cid:8)-B-(cid:8)/,+&(cid:9)’a %(cid:8)h,-(cid:8)Bh-&,h (cid:9)/)(cid:8)’%)&,+ %(cid:8)h,-(cid:8)Bh-&,h (cid:10) +/(cid:8)hB(cid:9)(cid:8)/)h&(cid:9)) %’h(cid:8),-)(cid:8)’/+&’’ (cid:128) NW$(cid:128)?u(cid:128)eRK$#(cid:128)(cid:1)WPQI /-%’ ’&’’ (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:128) (cid:2)W##$PR(cid:128)cu(cid:25)PI /-)’ ’&’’ (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:128) MP$(cid:25)#P$Q(cid:128)d$(cid:11)$PW$I /-h’ ’&’’ (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:128) N$X$##$Q(cid:128)‘P(cid:26)u(cid:14)I(cid:128)uX(cid:128)d$IuW#O$I /-/’ ’&’’ (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) (cid:128) 1>myiywz (cid:16)s(cid:15)(cid:17)(cid:18)(cid:21)(cid:20)(cid:17)s(cid:19)rpss (cid:27)r(cid:17)(cid:21)t(cid:21)(cid:17)(cid:19)(cid:18)rp(cid:22)s(cid:28) (cid:16)(cid:17)(cid:15)(cid:18)(cid:21)(cid:17)t(cid:15)(cid:21)p(cid:18)(cid:15) (cid:22)(cid:19)(cid:20)(cid:17)s(cid:16)(cid:20)p(cid:18)r (cid:16)(cid:17)(cid:15)(cid:18)(cid:21)(cid:17)t(cid:15)(cid:21)p(cid:18)(cid:15) (cid:23) r(cid:19)(cid:17)(cid:15)t(cid:22)(cid:17)(cid:19)(cid:20)(cid:15)p(cid:22)(cid:20) (cid:16)s(cid:15)(cid:17)(cid:18)(cid:21)(cid:20)(cid:17)s(cid:19)rpss (cid:128) }:8:H742(cid:24)8l (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128)(cid:128) UWI[$PI$(cid:128)(cid:2)L$(cid:25)#SP(cid:29) //%’ ’&’’ (cid:10) (cid:10) (cid:10) (cid:10) (cid:10) 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(cid:27)(cid:16)(cid:20)(cid:20)(cid:17)(cid:16)(cid:15)(cid:20)(cid:17)(cid:22)(cid:19)(cid:18)p(cid:21)t(cid:28) (cid:27)(cid:16)r(cid:16)(cid:17)(cid:22)(cid:16)(cid:22)(cid:17)(cid:16)t(cid:19)p(cid:15)(cid:16)(cid:28) (cid:27)(cid:16)(cid:16)(cid:16)(cid:17)(cid:16)(cid:21)(cid:16)(cid:17)(cid:21)r(cid:22)p(cid:21)t(cid:28) (cid:23) (cid:23) (cid:23) (cid:128) !p(cid:128)~}|(cid:4)}!(cid:128);w1(cid:127)(cid:17)(cid:128)"z>1(cid:128);w1(cid:127)(cid:128)w;;G>wz1(cid:128)w}| (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:128) (cid:27)rs(cid:15)(cid:17)(cid:15)(cid:22)(cid:19)(cid:17)(cid:18)(cid:16)(cid:19)ps(cid:19)(cid:28) (cid:128) w|x>1yv~}y1 21 Appendix B – District Cash Flow Projection Second Interim 34 67 439 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (1) G82FHFCHJE(2025-26) Beginning Description Object Balances July August September October November December January February (Ref. Only) ACTUALS THROUGH THE MONTH OF (Enter January Month Name): A. BEGINNING CASH 237,125,895.35 157,219,780.48 118,914,731.70 135,203,409.90 109,816,452.19 83,434,364.11 60,872,933.12 107,093,262.53 B. RECEIPTS LCFF Sources 8010- Principal Apportionment 8019 0.00 (1,694,380.00) 47,550,666.00 49,358,859.89 25,378,145.00 47,550,666.00 25,378,145.00 21,717,022.00 8020- Property Taxes 8079 0.00 0.00 0.00 (878,684.06) 516,363.61 0.00 65,496,382.90 0.00 8080- Miscellaneous Funds 8099 0.00 (1,013,628.00) (1,373,485.47) (1,366,218.58) (348,593.00) (2,414,036.00) (1,381,307.00) (348,593.00) 8100- Federal Revenue 8299 672,061.91 25,431.27 1,183,461.79 9,004,547.00 47,595.33 12,041,005.71 494,872.21 1,676,036.46 8300- Other State Revenue 8599 2,779.24 24,656,745.24 14,652,064.02 23,141,974.23 12,573,825.75 11,314,850.96 8,590,451.44 12,112,278.24 8600- Other Local Revenue 8799 (3,555,869.37) 1,215,754.33 8,184,063.22 (2,016,392.47) 4,134,006.65 1,187,864.36 491,510.66 4,010,391.53 8900- lnterfund Transfers In 8929 0.00 0.00 0.00 0.00 0.00 0.00 2,986,272.68 0.00 8930- All Other Financing Sources 8979 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL RECEIPTS (2,881,028.22) 23,189,922.84 70,196,769.56 77,244,086.01 42,301,343.34 69,680,351.03 102,056,327.89 39,167,135.23 C. DISBURSEMENTS 1000- Certificated Salaries 1999 3,018,554.44 30,333,962.60 27,996,884.38 29,037,158.78 30,454,526.23 30,239,926.12 29,138,419.35 29,256,755.07 2000- Classified Salaries 2999 5,399,650.36 9,412,874.00 8,988,339.67 8,889,002.05 8,834,582.72 9,393,012.49 9,027,413.80 8,865,264.65 3000- Employee Benefits 3999 5,241,820.03 21,294,030.01 20,836,051.23 21,008,531.52 19,870,305.32 21,338,348.90 21,739,241.67 21,741,405.52 4000- Books and Supplies 4999 (115,121.79) 504,321.27 621,776.32 1,132,897.12 730,696.25 1,015,040.25 1,888,886.85 1,938,510.67 5000- Services 5999 844,875.37 4,754,413.51 7,569,698.37 5,214,709.78 9,925,347.51 13,505,429.35 10,051,851.62 19,452,475.60 6000- Capital Outlay 6999 34,717.98 29,542.72 975,487.60 2,775,321.76 (2,667,823.97) 1,279,976.44 337,629.54 179,509.48 7000- Other Outgo 7499 0.00 142,303.00 93,414.68 97,535.00 99,695.89 97,535.00 (224,755.74) (482,635.12) 7600- lnterfund Transfers Out 7629 --- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 California Dept of Education SACS Financial Reporting Software -SACS V14 Page 142 of 149 File: CASH, Version 8 Page 1 Printed: 3/13/2026 4:32 PM 22 Second Interim 34 67 439 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (1) G82FHFCHJE(2025-26) Beginning Description Object Balances July August September October November December January February (Ref. Only) 7630- All Other Financing Uses 7699 0.00 0.00 0.00 0.00 79,200.00 0.00 0.00 0.00 TOTAL DISBURSEMENTS 14,424,496.39 66,471,447.11 67,081,652.25 68,155,156.01 67,326,529.95 76,869,268.55 71,958,687.09 80,951,285.87 D. BALANCE SHEET ITEMS Assets and Deferred Outflows 9111- Cash Not In Treasury 9199 1,625,917.00 164,427.15 (129,361.42) (105,162.41) 1,562,777.57 (1,333,408.99) (59,271.88) 35,619.59 (99,836.39) 9200- Accounts Receivable 9299 57,821,101.00 6,370,118.71 777,196.02 11,084,326.92 (7,689,314.70) 1,166,005.57 (57,262.59) (97,379.04) 537,736.58 Due From Other Funds 9310 9,448,386.00 0.00 0.00 9,448,385.60 0.00 0.00 0.00 0.00 0.00 Stores 9320 103,201.00 21.27 237.60 70.89 42.54 28.35 996.07 1,683.75 457.26 Prepaid Expenditures 9330 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Other Current Assets 9340 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Lease Receivable 9380 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Deferred Outflows of Resources 9490 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUBTOTAL 68,998,605.00 6,534,567.13 648,072.20 20,427,621.00 (6,126,494.59) (167,375.07) (115,538.40) (60,075.70) 438,357.45 Liabilities and Deferred Inflows 9500- Accounts Payable 9599 140,073,514.00 69,135,157.39 (4,328,403.29) (1,631,359.69) 28,653,334.84 1,188,526.40 15,256,975.07 (16,182,764.31) 6,943,344.60 Due To Other Funds 9610 6,082,311.00 0.00 0.00 6,082,310.66 0.00 0.00 0.00 0.00 0.00 Current Loans 9640 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Unearned Revenues 9650 2,839,017.00 0.00 0.00 2,803,109.14 (303,941. 72) 1,000.00 0.00 0.00 0.00 Deferred Inflows of Resources 9690 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUBTOTAL 148,994,842.00 69,135,157.39 (4,328,403.29) 7,254,060.11 28,349,393.12 1,189,526.40 15,256,975.07 (16,182,764.31) 6,943,344.60 NonoP.erating Suspense Clearing 9910 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL BALANCE SHEET ITEMS (79,996,237.00) (62,600,590.26) 4,976,475.49 13,173,560.89 (34,475,887.71) (1,356,901.47) (15,372,513.47) 16,122,688.61 (6,504,987.15) E. NET INCREASE/DECREASE (B • C + D) (79,906,114.87) (38,305,048.78) 16,288,678.20 (25,386,957.71) (26,382,088.08) (22,561,430.99) 46,220,329.41 (48,289,137.79) F. ENDING CASH (A+ E) 157,219,780.48 118,914,731.70 135,203,409.90 109,816,452.19 83,434,364.11 60,872,933.12 107,093,262.53 58,804,124.74 G. ENDING CASH, PLUS CASH ACCRUALS AND ADJUSTMENTS California Dept of Education SACS Financial Reporting Software -SACS V14 Page 143 of 149 File: CASH, Version 8 Page 2 Printed: 3/13/2026 4:32 PM 23 Second Interim 34 674 39 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (1) G82FH FCH JE(2025-26) Description Object March April May June Accruals Adjustments TOTAL BUDGET ACTUALS THROUGH THE MONTH OF (Enter Month Name): January A. BEGINNING CASH 58,804,124.74 37,593,896.43 78,762,051.38 37,727,436.86 B. RECEIPTS LCFF Sources 8010- Principal Apportionment 8019 44,012,339.22 41,386,390.23 21,717,022.00 21,717,022.00 10,286,321.66 354,358,219.00 354,358,219.00 8020- Property Taxes 8079 0.00 73,414,171.50 0.00 0.00 8,280,109.05 146,828,343.00 146,828,343.00 8080- Miscellaneous Funds 8099 (2,487,968.17) (1,243,983.71) (1,243,983.71) (1,243,984.46) (617,357.90) 0.00 (15,083,139.00) (15,083,139.00) 8100- Federal Revenue 8299 9,004,547.00 1,532,000.00 7,000,000.00 3,500,000.00 5,291,254.54 0.00 51,472,813.22 51,472,813.22 8300- Other State Revenue 8599 9,664,654.26 8,590,451.00 12,112,278.24 12,112,278.24 21,098,126.39 0.00 170,622,757.25 170,622,757.25 8600- Other Local Revenue 8799 555,986.50 0.00 0.00 555,986.50 1,745,260.75 0.00 16,508,562.66 16,508,562.66 8900- lnterfund Transfers In 8929 0.00 0.00 0.00 9,769,607.32 0.00 0.00 12,755,880.00 12,755,880.00 8930- All Other Financing Sources 8979 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL RECEIPTS 60,749,558.81 123,679,029.02 39,585,316.53 46,410,909.60 46,083,714.49 0.00 737,463,436.13 737,463,436.13 C. DISBURSEMENTS 1000- Certificated Salaries 1999 29,256,755.00 29,256,755.00 29,256,755.00 25,256,755.00 242,780.28 0.00 322,745,987.25 322,745,987.25 2000- Classified Salaries 2999 8,865,264.65 8,865,264.65 8,865,264.65 8,865,264.65 5,567,326.55 0.00 109,838,524.89 109,838,524.89 3000- Employee Benefits 3999 21,741,405.52 21,741,405.52 21,741,405.52 21,741,405.52 31,135,601.12 0.00 271,170,957.40 271,170,957.40 4000- Books and Supplies 4999 1,938,510.67 1,000,000.00 575,000.00 1,000,000.00 37,909,752.94 2,300,000.00 52,440,270.55 52,440,270.55 5000- Services 5999 19,452,475.60 19,452,475.60 19,452,475.60 19,452,475.60 38,700,720.41 0.00 187,829,423.92 187,829,423.92 6000- Capital Outlay 6999 179,509.00 179,509.00 179,509.00 337,629.00 6,836,438.53 0.00 10,656,956.08 10,656,956.08 7000- Other Outgo 7499 (224,755.74) (224,755.74) (482,635.12) (224,755.74) 208,590.45 0.00 (1,125,219.18) (1,125,219.18) 7600- lnterfund Transfers Out 7629 0.00 0.00 0.00 1,100,000.00 515,102.45 0.00 1,615,102.45 1,615,102.45 7630- All Other Financing Uses 7699 0.00 0.00 0.00 0.00 (79,200.00) 0.00 0.00 0.00 California Dept of Education SACS Financial Reporting Software -SACS V14 Page 144 of 149 File: CASH, Version 8 Page 3 Printed: 3/13/2026 4:32 PM 24 Second Interim 34 674 39 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (1) G82FH FCH JE(2025-26) Description Object March April May June Accruals Adjustments TOTAL BUDGET TOTAL DISBURSEMENTS 81,209,164.70 80,270,654.03 79,587,774.65 77,528,774.03 121,037,112.73 2,300,000.00 955,172,003.36 955,172,003.36 D. BALANCE SHEET ITEMS Assets and Deferred Outflows 9111- Cash Not In Treasury 9199 (99,836.00) (99,836.00) (99,836.00) 35,619.00 1,854,022.78 0.00 1,625,917.00 9200- Accounts Receivable 9299 537,736.58 (97,379.04) 256,206.00 256,206.00 44,776,903.99 0.00 57,821,101.00 Due From Other Funds 9310 0.00 0.00 0.00 0.00 .40 0.00 9,448,386.00 Stores 9320 0.00 0.00 0.00 0.00 99,663.27 0.00 103,201.00 Prepaid Expenditures 9330 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Other Current Assets 9340 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Lease Receivable 9380 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Deferred Outflows of Resources 9490 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUBTOTAL 437,900.58 (197,215.04) 156,370.00 291,825.00 46,730,590.44 0.00 68,998,605.00 Liabilities and Deferred Inflows 9500- Accounts Payable 9599 1,188,523.00 2,043,005.00 1,188,526.40 2,043,005.00 34,575,643.59 0.00 140,073,514.00 Due To Other Funds 9610 0.00 0.00 0.00 0.00 .34 0.00 6,082,311.00 Current Loans 9640 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Unearned Revenues 9650 0.00 0.00 0.00 0.00 338,849.58 0.00 2,839,017.00 Deferred Inflows of Resources 9690 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SUBTOTAL 1,188,523.00 2,043,005.00 1,188,526.40 2,043,005.00 34,914,493.51 0.00 148,994,842.00 Nono12erating Suspense Clearing 9910 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL BALANCE SHEET ITEMS (750,622.42) (2,240,220.04) (1,032,156.40) (1,751,180.00) 11,816,096.93 0.00 (79,996,237.00) E. NET INCREASE/DECREASE (B -C+ D) (21,210,228.31) 41,168,154.95 (41,034,614.52) (32,869,044.43) (63,137,301.31) (2,300,000.00) (297,704,804.23) (217,708,567.23) F. ENDING CASH (A+ E) 37,593,896.43 78,762,051.38 37,727,436.86 4,858,392.43 G. ENDING CASH, PLUS CASH ACCRUALS AND ADJUSTMENTS (60,578,908.88) California Dept of Education SACS Financial Reporting Software -SACS V14 Page 145 of 149 File: CASH, Version 8 Page 4 Printed: 3/13/2026 4:32 PM 25 Second Interim 34 67 439 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet • Budget Year (2) G82FHFCHJE(2025-26) Beginning Description Object Balances July August September October November December January February (Ref. Only) ACTUALS THROUGH THE MONTH OF (Enter Month Name): A. BEGINNING CASH 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 B. RECEIPTS LCFF Sources 8010- Principal Apportionment 8019 8020- Property Taxes 8079 8080- Miscellaneous Funds 8099 8100- Federal Revenue 8299 8300- Other State Revenue 8599 8600- Other Local Revenue 8799 8900- lnterfund Transfers In 8929 8930- All Other Financing Sources 8979 TOTAL RECEIPTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 C. DISBURSEMENTS 1000- Certificated Salaries 1999 2000- Classified Salaries 2999 3000- Employee Benefits 3999 4000- Books and Supplies 4999 5000- Services 5999 6000- Capital Outlay 6999 7000- Other Outgo 7499 7600- lnterfund Transfers Out 7629 --- California Dept of Education SACS Financial Reporting Software• SACS V14 Page 146 of 149 File: CASH, Version 8 Page 5 Printed: 3/13/2026 4:32 PM 26 Second Interim 34 67 439 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet • Budget Year (2) G82FHFCHJE(2025-26) Beginning Description Object Balances July August September October November December January February (Ref. Only) 7630- All Other Financing Uses 7699 TOTAL DISBURSEMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 D. BALANCE SHEET ITEMS Assets and Deferred Outflows 9111- Cash Not In Treasury 9199 9200- Accounts Receivable 9299 Due From Other Funds 9310 Stores 9320 Prepaid Expenditures 9330 Other Current Assets 9340 Lease Receivable 9380 Deferred Outflows of Resources 9490 SUBTOTAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Liabilities and Deferred Inflows 9500- Accounts Payable 9599 Due To Other Funds 9610 Current Loans 9640 Unearned Revenues 9650 Deferred Inflows of Resources 9690 SUBTOTAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Nono12erating Suspense Clearing 9910 TOTAL BALANCE SHEET ITEMS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 E. NET INCREASE/DECREASE (B • C + D) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 F. ENDING CASH (A+ E) 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 G. ENDING CASH, PLUS CASH ACCRUALS AND ADJUSTMENTS California Dept of Education SACS Financial Reporting Software• SACS V14 Page 147 of 149 File: CASH, Version 8 Page 6 Printed: 3/13/2026 4:32 PM 27 Second Interim 34 674 39 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (2) G82FH FC HJE(2025-26) Description Object March April May June Accruals Adjustments TOTAL BUDGET ACTUALS THROUGH THE MONTH OF (Enter Month Name): A. BEGINNING CASH 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 B. RECEIPTS LCFF Sources 8010- Principal Apportionment 8019 0.00 8020- Property Taxes 8079 0.00 8080- Miscellaneous Funds 8099 0.00 8100- Federal Revenue 8299 0.00 8300- Other State Revenue 8599 0.00 8600- Other Local Revenue 8799 0.00 8900- lnterfund Transfers In 8929 0.00 8930- All Other Financing Sources 8979 0.00 TOTAL RECEIPTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 C. DISBURSEMENTS 1000- Certificated Salaries 1999 0.00 2000- Classified Salaries 2999 0.00 3000- Employee Benefits 3999 0.00 4000- Books and Supplies 4999 0.00 5000- Services 5999 0.00 6000- Capital Outlay 6999 0.00 7000- Other Outgo 7499 0.00 7600- lnterfund Transfers Out 7629 0.00 7630- All Other Financing Uses 7699 0.00 California Dept of Education Page 148 of 149 SACS Financial Reporting Software -SACS V14 File: CASH, Version 8 Page 7 Printed: 3/13/2026 4:32 PM 28 Second Interim 34 674 39 0000000 Sacramento City Unified 2025-26 Budget Form CASH Sacramento County Cashflow Worksheet• Budget Year (2) G82FH FC HJE(2025-26) Description Object March April May June Accruals Adjustments TOTAL BUDGET TOTAL DISBURSEMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 D. BALANCE SHEET ITEMS Assets and Deferred Outflows 9111- Cash Not In Treasury 9199 0.00 9200- Accounts Receivable 9299 0.00 Due From Other Funds 9310 0.00 Stores 9320 0.00 Prepaid Expenditures 9330 0.00 Other Current Assets 9340 0.00 Lease Receivable 9380 0.00 Deferred Outflows of Resources 9490 0.00 SUBTOTAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Liabilities and Deferred Inflows 9500- Accounts Payable 9599 0.00 Due To Other Funds 9610 0.00 Current Loans 9640 0.00 Unearned Revenues 9650 0.00 Deferred Inflows of Resources 9690 0.00 SUBTOTAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Nono12erating Suspense Clearing 9910 0.00 TOTAL BALANCE SHEET ITEMS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 E. NET INCREASE/DECREASE (B -C + D) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 F. ENDING CASH (A+ E) 4,858,392.43 4,858,392.43 4,858,392.43 4,858,392.43 G. ENDING CASH, PLUS CASH ACCRUALS AND ADJUSTMENTS 4,858,392.43 California Dept of Education SACS Financial Reporting Software -SACS V14 Page 149 of 149 File: CASH, Version 8 Page 8 Printed: 3/13/2026 4:32 PM 29 Appendix C – Study Agreement 30 31 32 33 Digitally signed by Michael H. Fine Michael H. Fine Date: 2026.04.16 14:45:24 -07'00' 34