Bond Interest & Redemption Funds Budget
SBAS is responsible for managing the budget for each district’s Bond Interest & Redemption (BIR) Fund(s). The BIR Funds budget is updated each fall using information provided by the Santa Barbara County Auditor-Controller’s Office and should be approved by your district’s board as part of its First Interim Report. Since the budget for BIR funds must be adopted prior to July 1, we suggest that districts with these funds continue to use the data from the prior year's revised budget until updated information becomes available.
These budget figures typically do not change during the fiscal year. However, SBAS will reconcile budget-to-actual data periodically according to the schedule below and notify districts of any variances that may require a budget revision.