School finance: budget reports.

Assembly Member Pacheco's proposal to modify California school district financial reporting deadlines addresses timing conflicts that arise during board election years by extending the approval period for October fiscal reports. The measure amends existing Education Code requirements that mandate school district superintendents submit two annual financial reports to their governing boards - one covering through October 31 and another through January 31.

Under current law, both reports must receive board approval within 45 days after their respective reporting periods end. The proposed change would specifically adjust the October report deadline in election years, allowing boards until December 20 to grant approval rather than the standard 45-day window. This modification aligns the financial review timeline with the scheduling of organizational meetings that occur when new board members take office. The January report deadline would remain unchanged at 45 days post-reporting period regardless of election status.

The measure maintains existing requirements for report formatting, fiscal stability standards, and public accessibility of supporting documentation. School districts would need to adjust their administrative calendars to accommodate the extended timeline in election years while ensuring continued compliance with state-mandated financial oversight procedures.