FIRST INTERIM BUDGET B OA R D M E E T I N G D E C E M B E R 1 3,

Transcription

1 FIRST INTERIM BUDGET B OA R D M E E T I N G D E C E M B E R 1 3,

2 Presentation Adopted Budget vs. First Interim Revenue and Expenditure Variances General Fund Summary Revenues and Expenditures Multi-year Projection Looking Ahead

3 ADOPTED BUDGET VS. FIRST INTERIM

4 Revenue Adopted Budget Carryover Budget Adjustments First Interim LCFF Sources 47,678, ,678,011 Federal Revenues 1,115,836 36,777 10,611 1,163,224 Other State Revenues 4,246, ,969 4,378,984 Other Local Revenues 3,411, ,819 3,568,051 Other Finance Sources 70, ,000 Total Revenues 56,521,094 36, ,399 56,858,270

5 Revenue Variances Federal Revenues: Increase due to carryover from Title III LEP and Immigrant Other State Revenues: Increase due to update in Lottery, Proposition 39 ( CA Clean Energy Jobs Act), and one-time mandate reimbursement allocations Other Local Revenues & Other Finance Sources: Increase due to site fundraising budgeted when received SELPA MOUs and CGI Math Training Increase partially offset by DMSEF Shortfall

6 Expenditures Adopted Budget Carryover Budget Adjustments First Interim Certificated Salaries 28,492,005 - (17,351) 28,474,654 Classified Salaries 7,861, ,484 8,104,611 Employee Benefits 12,747,336-69,392 12,816,728 Books & Supplies 1,371, , ,434 1,637,472 Operating Expenses 4,753,979 63, ,181 4,956,984 Capital Outlay 70, ,000 Other Outgo 360,772 - (67,681) 293,091 Total Expenditures 55,656, , ,459 56,353,540

7 Expenditure Variance Salaries and Benefits: Salary and benefits adjustments based upon expenditures through October 31, 2017 Books and Supplies: Carryover: fundraising and school site improvement Current year fundraising Operating Expenses: Carryover: Title III LEP and Immigrant Current year and carryover balances for fundraising Other Outgo: Adjustment for inter district transfer agreements

8 Ending Fund Balance Adopted Budget Carryover Budget Adjustments First Interim Net Increase (Decrease) 864,778 (156,988) (203,060) 504,730 Fund Balance 12,050,911 11,690,863 Components of Ending Fund Balance: Revolving Cash 25,000 25,000 Restricted: 90,637 90,637 Assigned: - STRS, PERS, & OPEB Future 1,283,016 1,042,466 - One-time Mandate Reimb. 634, ,123 3% Reserve for Economic Uncertainties 1,669,689 1,690,606 Unassigned/Unappropriated 8,348,446 8,453,031 Note: Board Approved 15% Reserve 10,018,135 10,143,637

9 GENERAL FUND SUMMARY

10 Revenue Summary Other State Revenues 7.7% DMSEF & Site Donations 2.5% Other Local Revenues 3.8% Interfund Transfer In 0.1% Federal Revenues 2.0% LCFF Sources 47,678,011 Federal Revenues 1,163,224 LCFF Sources 83.9% Other State Revenues 4,378,984 Other Local Revenues 2,158,406 DMSEF & Site Donations 1,409,645 Other Financing Sources 70,000 Total Revenue & Other Financing Sources 56,858,270 Other State Revenues includes: - One-time funding for Mandate Claims of $634,123 - State STRS on-behalf contribution of $2,251,408

11 Expenditure Summary Books & Supplies 2.9% Classified Management 1.0% Operating Expenses 8.8% Pension Costs 13.5% Employee Benefits 9.2% Classified Salaries 13.4% Capital Outlay 0.1% Certificated Management 5.0% Other Outgo 0.5% Certificated Salaries 45.6% Certificated Salaries 25,683,639 Certificated Management 2,791,015 Classified Salaries 7,530,314 Classified Management 574,297 Employee Benefits 5,201,454 Pension Costs* 7,615,274 Books & Supplies 1,637,472 Operating Expenses 4,956,984 Capital Outlay 70,000 Other Outgo 293,091 Total Expenditures & Other Outgo 56,353,540 *Total Salary and Benefits = 87.7% *Pension costs include State STRS on-behalf contribution of $2,251,408

12 MULTI-YEAR PROJECTION

13 Multi-Year Projection Based upon the School Services of California Dartboard Property Tax Projection: % Increase 4% Increase Average Daily Attendance Projections: , ,281 Salary: Step and Column 2% annually Benefits: Annual increases in Employer STRS and PERS contributions

14 Multi-Year Projection Revenues DESCRIPTION FY FY FY Current (Base Year) First Projected Year Second Projected Year LCFF Sources 47,678,011 49,499,117 51,392,844 Federal Revenues 1,163,224 1,126,447 1,126,447 Other State Revenues 4,378,984 3,496,933 3,494,116 Other Local Revenues 3,568,051 3,598,566 3,630,614 Transfers In/Other Sources 70,000 70,000 70,000 Expenditures Total Revenues: 56,858,270 57,791,063 59,714,021 Certificated Salaries 28,474,654 29,150,033 29,733,032 Classified Salaries 8,104,611 8,241,703 8,406,537 Employee Benefits 12,816,728 13,787,318 14,791,211 Books & Supplies 1,637,472 1,343,201 1,340,705 Services, Other Operating Expense 4,956,984 4,696,489 4,726,489 Capital Outlay 70,000 70,000 70,000 Other Outgo - exclude Direct Sup. 41,319 41,319 41,319 Debt Service 251, , ,772 Total Expenditures: 56,353,540 57,581,835 59,361,065

15 Multi-Year Projection DESCRIPTION FY FY FY Current (Base Year) First Projected Year Second Projected Year Beginning Balance as of July 1 11,186,133 11,690,863 11,900,091 Net Increase (Decrease) In Fund Balance 504, , ,956 Ending Balance 11,690,863 11,900,091 12,253,047 Revolving Cash 25,000 25,000 25,000 Restricted 90,637 90,636 90,636 Assignments: - STRS, PERS, & OPEB Future Obligations 1,042,466 1,030,603 1,063,298 - One-time Mandate Reimbursement 389, , ,123 Reserve for Economic Uncertainties 1,690,606 1,727,455 1,780,832 Unassigned/Unappropriated Amount (15%) 8,453,031 8,637,274 8,904,158 Total Reserve Balance 11,690,863 11,900,091 12,253,047 Total Reserve Percentage 20.7% 20.7% 20.6%

16 Looking Ahead STRS/PERS annual increases DMSEF contribution 3% minimum Routine Restricted Maintenance contribution effective July 1, 2020 AB 670: Playground supervisors part of classified service effective January 1, 2018 SB751: Reserve Cap Update LCFF Districts: 10% maximum combined assigned and unassigned in General Fund and Special Reserve Fund Basic Aid Districts: Exempt from reserve cap

17 Questions?