COUNTY OF SANTA CLARA Finance Agency Basic Aid School Districts Meeting November 7, 2018 AGENDA

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1 COUNTY OF SANTA CLARA Basic Aid s Meeting November 7, 2018 AGENDA I. Introduction II. Assessment: Assessor A. FY2018/19 Assessed Valuation Update B. FY2019/20 Assessment Roll Trend C. Questions III. Apportionment Revenues: Controller Treasurer A. Schedule A 1 Secured Tax Levy Summary B. Schedule B FY18 19 & FY17 18 Property Tax Revenue Summary Projection is based on the estimated FY18 19 roll reduction of $40M Secured C. Schedule C FY18 19 Est. 1 Tax Levy (net of Roll Corrections) Secured & Unsecured D. Schedule D Impact of $5M Roll Corrections IV. Schedule For Next Meeting

2 COUNTY OF SANTA CLARA Basic Aid s Meeting November 7, Secured Tax Levy Summary Schedule A $40M Item Description FY FY FY FY Estimate FY FY FY FY FY FY [ amounts expressed in Millions] Ad Valorem Levy as of 07/01 4,527,102,497 4,211 3,926 3,629 3,328 3,095 2,844 2,761 2,746 2,802 Asr Roll Corr up to 8/20 Equalized Roll (9,341,575) (3) (2) (10) (7) (15) (17) Apportioned Refunds (2,447,382) 9 6 (2) 4 (3) (22) (30) (10) (5) Ad Valorm Levy as of 10/31 4,515,313,540 4,217 3,930 3,618 3,334 3,093 2,825 2,724 2,722 2,780 Roll Corrections from Nov thru June (28,211,043) (29) (15) (7) (29) (30) (23) (23) (28) (18) Year End Secured Tax Levy 4,487,102,497 4,188 3,915 3,611 3,305 3,063 2,802 2,701 2,693 2,762 (before PY RDA Roll Corrections) PY RDA Roll Correction 5,898,283 (2) (1) Year End Secured Tax Levy (after PY RDA Roll Corrections) 4,493,000,780 4,186 3,914 3,625 3,316 3,074 2,815 2,721 of YE to July 1st Levy of Current Year YE levy to Prior Year YE levy FY FY FY FY FY FY FY FY FY FY Net Roll Corrections (before RDA RC): July thru October (12) (11) (2) 8 (20) 46 (37) 62 (24) 46 (22) 56 November thru June (28) 71 (29) 126 (15) 140 (7) 38 (29) 125 (30) 92 (23) 54 (23) 38 (28) 54 (18) 44 Total (40) 100 (23) 100 (11) 100 (18) 100 (23) 100 (32) 100 (43) 100 (60) 100 (53) 100 (40) 100

3 Schedule B C O U N T Y OF S A N T A C L A R A Basic Aid s Meeting November 7, 2018 FY2018/19 & FY2017/18 Property Tax Revenue Summary July 1 Beg Roll (Tax) FY 18/19 FY 17/18 Change Secured 4,527,102,497 4,210,929, Unsecured (excl. Aircraft) 283,421, ,554, HOPTR 18,088,722 18,243, Total 4,828,612,803 4,497,728, FY18/19 After Roll Corr. Estimate FY17/18 Actual After RDA RC Change Secured 4,493,000,780 4,185,543, Unsecured 280,000, ,917, HOPTR 18,100,000 18,497, Total 4,791,100,780 4,477,958, Fiscal Year Schoolsʹ AB 8 Factors Secured, Net of Roll Correction $40M & PY RDA RC (see Sch. C) / Comm. Agency Tax Increment Loss Secured Secured, Net of RDA Sec PY Adj Secured Net of Roll Corr., RDA & PY Adj Unitary Total Net Secured (see Sch. C) Suppl. Timber Aircraft Tax Updated Updated Updated (note 1) Updated (note 2) (note 3) (note 4) (note 5) Updated Updated Updated Updated [a] [b] [c]=[a]+[b] [d] [e]=[c]+[d] [f] [g] = [e]+[f] [h] [i] [j] [k] [l] [m] [n] [o] [p] q=g+h+i+j+k+l+m+n+o+p Campbell Elem FY 18/19 Estimate ,510,000 (2,128,000) 51,382,000 10,000 51,392, ,000 51,850, , ,335, ,397,000 42,129 56,840, ,840,129 FY 17/18 Actual ,298,574 (1,904,835) 47,393,739 (41,480) 47,352, ,646 47,764, ,133 3,229,242 6,780 1,064,189 52,280,249 52,280,249 Lakeside Joint Elem FY 18/19 Estimate , , ,000 5, , , , , ,700 FY 17/18 Actual , ,813 (240) 283,573 4, ,045 1,239 18, , ,613 Loma Prieta Joint Elem FY 18/19 Estimate , , ,000 38, , , , , , ,200 FY 17/18 Actual , ,685 (573) 674,112 36, ,845 2,944 44,174 2, , ,205 Los Altos Elem FY 18/19 Estimate ,747,000 42,747,000 8,000 42,755, ,000 43,028, , ,664, ,864, ,864,000 FY 17/18 Actual ,676,994 39,676,994 (32,764) 39,644, ,763 39,880, ,144 2,596,061 42,650,198 42,650,198 Los Gatos Elem FY 18/19 Estimate ,911,000 (3,263,000) 25,648,000 6,000 25,654, ,000 25,932, , ,802, ,100 2,411, ,000 30,790, ,790,100 FY 17/18 Actual ,102,930 (3,074,187) 24,028,743 (22,595) 24,006, ,111 24,260, ,273 1,774,707 1, ,312, ,729 28,995,848 28,995,848 Mtn View/ Whisman Elem FY 18/19 Estimate ,771,000 (9,203,000) 44,568,000 11,000 44,579, ,000 44,977, , ,351, ,600 27,279 48,573, ,573,879 FY 17/18 Actual ,658,492 (9,447,982) 42,210,510 (40,257) 42,170, ,797 42,527, ,426 3,375,770 1,613 25,045 46,154,904 46,154,904 Saratoga Elem FY 18/19 Estimate ,076,000 26,076,000 5,000 26,081, ,000 26,268, , ,625, ,998, ,998,600 FY 17/18 Actual ,504,473 24,504,473 (20,938) 24,483, ,031 24,647, ,935 1,605, ,360,229 26,360,229 Sunnyvale Elem FY 18/19 Estimate ,800,000 (3,545,000) 64,255,000 12,000 64,267, ,000 64,889, , ,225, ,000 2,518,000 72,221, ,221,000 FY 17/18 Actual ,127,538 (3,328,894) 56,798,644 (47,973) 56,750, ,297 57,315, ,383 3,930, ,410 2,490,825 64,320,691 64,320,691 Campbell Union FY 18/19 Estimate ,121,000 (1,806,000) 77,315,000 15,000 77,330, ,000 78,001, , ,931, , ,000 35,744 84,704, ,704,744 High FY 17/18 Actual ,613,360 (1,634,964) 71,978,396 (62,028) 71,916, ,840 72,517, ,240 4,821, , ,060 78,828,912 78,828,912 Fremont Union FY 18/19 Estimate ,722,000 (3,060,000) 123,662,000 24, ,686,000 1,139, ,825, , ,897, ,000 2,174, ,680, ,680,000 High FY 17/18 Actual ,346,732 (2,873,230) 113,473,502 (95,702) 113,377,800 1,027, ,405, ,718 7,612, ,415 2,149, ,952, ,952,907 Los Gatos Saratoga FY 18/19 Estimate ,289,000 (2,446,000) 40,843,000 8,000 40,851, ,000 41,239, , ,698, , ,162, ,000 46,452, ,452,200 High FY 17/18 Actual ,631,275 (2,304,090) 38,327,185 (34,286) 38,292, ,673 38,643, ,310 2,660,968 3, ,191,186 78,405 43,754,640 43,754,640 Mt. View Los Altos FY 18/19 Estimate ,668,000 (5,900,000) 69,768,000 15,000 69,783, ,000 70,315, , ,715, ,079 75,357, ,357,979 High FY 17/18 Actual ,454,928 (6,052,355) 65,402,573 (57,300) 65,345, ,540 65,815, ,815 4,672, ,271 70,821,117 70,821,117 HOPTR Unsecured Other tax revenues Misc. Income Pass Thru Apportion. RDA Other Asset Dist. T o t Total Property Tax Revenues before ERAF FY18 19 vs. FY17 18 to PY Property Tax Revenues with ERAF ERAF Property Tax Revenue with ERAF & RDA Note 1: Supplemental FY1819: Projected 20 decrease from FY1718 actual for community colleges & COE. Note 2: October estimation of RDA Pass through. Note 3: October estimation for FY Note 4: Amount is YTD actual, no projection available. Note 5: Preliminary ERAF estimation for community colleges. No ERAF estimate for COE.

4 Schedule B Fiscal Year Schoolsʹ AB 8 Factors Secured, Net of Roll Correction $40M & PY RDA RC (see Sch. C) / Comm. Agency Tax Increment Loss Secured Secured, Net of RDA Sec PY Adj Secured Net of Roll Corr., RDA & PY Adj Unitary Total Net Secured HOPTR Updated Updated Updated (note 1) Updated (note 2) (note 3) (note 4) (note 5) Updated Updated Updated Updated [a] [b] [c]=[a]+[b] [d] [e]=[c]+[d] [f] [g] = [e]+[f] [h] [i] [j] [k] [l] [m] [n] [o] [p] q=g+h+i+j+k+l+m+n+o+p Unsecured (see Sch. C) Suppl. Timber Tax Aircraft Other tax revenues Misc. Income Pass Thru Apportion. RDA Other Asset Dist. T o t Total Property Tax Revenues before ERAF FY18 19 vs. FY17 18 to PY Property Tax Revenues with ERAF Palo Alto FY 18/19 Estimate ,429, ,429,000 32, ,461,000 1,399, ,860, , ,559, , ,312, ,312,000 Unified FY 17/18 Actual ,365, ,365,252 (132,176) 158,233,076 1,248, ,481, ,080 10,362, , ,727, ,727,569 Santa Clara FY 18/19 Estimate ,899,000 (67,567,000) 155,332,000 41, ,373,000 1,512, ,885, , ,891, ,000 20,250,000 18,188,000 11,503, ,645, ,645,821 Unified FY 17/18 Actual ,955,766 (66,219,766) 136,736,000 (161,818) 136,574,182 1,371, ,945, ,659 13,271,420 29,535 19,672,339 22,780,341 12,748, ,333, ,333,403 Foothill De Anza FY 18/19 Estimate ,067,000 (3,809,000) 105,258,000 21, ,279, , ,173, , ,797, ,757, , ,000 9, ,110, ,600, ,710,283 College District FY 17/18 Actual ,474,871 (3,806,019) 97,668,852 (83,115) 97,585, ,310 98,386, ,446 6,638,249 3,445, , ,692 9, ,854,524 9,080, ,935,129 Gavilan FY 18/19 Estimate ,209,000 (1,682,000) 11,527,000 3,000 11,530, ,000 11,670, , , , , ,000 41,096 14,293, ,400,000 16,693,696 College District FY 17/18 Actual ,431,251 (1,556,232) 10,875,019 (10,506) 10,864, ,833 10,993,346 54, , , , ,053 13,535,940 5,919,395 19,455,335 San Jose Evergreen FY 18/19 Estimate ,928,000 (18,174,000) 83,754,000 19,000 83,773,000 1,032,000 84,805, , ,352, ,621,000 4,183,000 4,736,000 2,089, ,197, ,197,942 College District FY 17/18 Actual ,758,263 (16,783,271) 78,974,992 (79,791) 78,895, ,527 79,843, ,186 6,268,037 3,276,237 3,983,800 5,722, ,452 99,655,107 99,655,107 West Valley Mission FY 18/19 Estimate ,348,000 (23,104,000) 98,244,000 23,000 98,267, ,000 99,184, , ,562, ,044,000 1,500 8,000 4,134,000 9,053,000 3,603, ,079, ,079,200 College District FY 17/18 Actual ,797,622 (22,464,148) 89,333,474 (91,553) 89,241, ,239 90,070, ,067 7,315,986 3,805,214 1,503 8,540 3,812,850 10,597,396 3,701, ,807, ,807,175 County Office of Education FY 18/19 Estimate ,049,000 (19,229,000) 138,820,000 30, ,850,000 1,382, ,232, , ,849, ,972, ,000 4,818,000 5,320,000 2,184, ,015, ,015,562 FY 17/18 Actual ,150,092 (18,301,722) 128,848,370 (121,437) 128,726,933 1,253, ,980, ,301 9,629,782 4,965, ,056 4,579,029 6,172,721 1,387, ,368,219 42,724, ,092,696 Note 1: Supplemental FY1819: Projected 20 decrease from FY1718 actual for community colleges & COE. Note 2: October estimation of RDA Pass through. Note 3: October estimation for FY Note 4: Amount is YTD actual, no projection available. Note 5: Preliminary ERAF estimation for community colleges. No ERAF estimate for COE. ERAF Property Tax Revenue with ERAF & RDA

5 C O U N T Y OF S A N T A C L A R A Basic Aid s Meeting November 7, 2018 FY Estimated Property Tax Levy Schedule C SECURED UNSECURED 1 Tax Levy 1 Tax Levy 1 Tax Levy Schoolsʹ AB 8 Factors Net of Roll Roll Corr PY RDA Roll FY18 19 Estimated (FY18 19) July 1st Corrections Before (Estimate) Correction (Note 1) RDA TI Loss 4,527,102,497 (40,000,000) 5,898,283 $ 4,493,000,780 $ 280,000,000 [a1] [a2] [a3] [a]=[a1]+[a2]+[a3] Campbell Elem ,916,643 (476,390) 69,472 53,510,000 3,335,000 Lakeside Joint Elem ,152 (2,758) ,000 19,000 Loma Prieta Joint Elem ,643 (6,226) ,000 44,000 Los Altos Elem ,071,507 (380,566) 55,913 42,747,000 2,664,000 Los Gatos Elem ,129,986 (257,383) 38,194 28,911,000 1,802,000 Mtn View/ Whisman Elem ,177,255 (478,693) 72,796 53,771,000 3,351,000 Saratoga Elem ,273,620 (232,145) 34,532 26,076,000 1,625,000 Sunnyvale Elem ,318,653 (603,641) 84,731 67,800,000 4,225,000 Campbell Union ,721,605 (704,394) 103,737 79,121,000 4,931,000 Fremont Union ,686,671 (1,128,198) 163, ,722,000 7,897,000 Los Gatos Saratoga High ,617,291 (385,388) 57,258 43,289,000 2,698,000 Mt. View Los Altos High ,240,492 (673,636) 100,694 75,668,000 4,715,000 Palo Alto Unified ,714,458 (1,508,377) 223, ,429,000 10,559,000 Santa Clara Unified ,597,909 (1,984,474) 286, ,899,000 13,891,000 Foothill De Anza CCD ,894,649 (970,993) 142, ,067,000 6,797,000 Gavilan CCD ,308,792 (117,592) 17,518 13,209, ,000 San Jose Evergreen CCD ,700,844 (907,431) 134, ,928,000 6,352,000 West Valley Mission CCD ,270,711 (1,080,344) 157, ,348,000 7,562,000 County Office of Education ,248,725 (1,407,070) 207, ,049,000 9,849,000 Note 1: Updated estimate, based on October year to date collection.

6 Schedule D C O U N T Y OF S A N T A C L A R A Basic Aid s Meeting November 7, 2018 Impact of $5M Roll Corrections FY 18/19 Impact on each school district for every $5M (+/ ) net roll correction Schoolsʹ AB 8 Factors *round to the nearest thousand * Estimated (+/ ) Net Roll Correction of (FY18 19) $5,000,000 Campbell Elem ,000 Lakeside Joint Elem Loma Prieta Joint Elem ,000 Los Altos Elem ,000 Los Gatos Elem ,000 Mtn View/ Whisman Elem ,000 Saratoga Elem ,000 Sunnyvale Elem ,000 Campbell Union High ,000 Fremont Union High ,000 Los Gatos Saratoga High ,000 Mt. View Los Altos High ,000 Palo Alto Unified ,000 Santa Clara Unified ,000 Foothill De Anza CCD ,000 Gavilan CCD ,000 San Jose Evergreen CCD ,000 West Valley Mission CCD ,000 County Office of Education ,000

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