2016/17 Third Interim. Presented to the Board of Education May 18, 2017
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1 2016/17 Third Interim Presented to the Board of Education May 18,
2 District Goals: Students are college and career ready; Students have equitable access and opportunities; Students are instilled with 21 st century skills; Students are supported to make healthy living choices. 2
3 Required by the Education Code if, at Second Interim, a district reports a Qualified or Negative fiscal status; Final review of current year actual revenues and expenses to date before Budget Adoption; For the Multi-Year Projection (MYP), update changes after the Governor s May revision and after the District s Period 2 (P-2) attendance calculations; Preview of next year s budget before Budget public hearing in early June and Budget adoption in mid to late June. 3
4 What is an Interim Certification At Second Interim, the Governing Board of the District certified the following that based upon the current projections the District may not be able to meet its financial obligations for the current fiscal year and subsequent two fiscal years; At Third Interim, the Governing Board of the District certifies the following that based upon the current projections the District will meet its financial obligations for the current fiscal year and subsequent two fiscal years;. Three levels of certification: Positive will meet Qualified may not be able meet current financial obligations in the current year or next two fiscal years Negative will not meet Board s Focused Fiscal Goals: Guarantee long term fiscal solvency and sustainability; Align Priorities and Goals (LCAP) within a balanced budget. 4
5 Review of all Funds and projected operational balances; Enrollment ups, downs and unknowns; Increase in costs associated with employer paid pension funds STRS and PERS; Actions Taken: Staff reductions in administration, classified and certificated ranks; Impact of reduction in work force: No major impacts on class size in ; Layoffs kept to a minimal level due to retirements. All budget reductions are completely unrelated to Measure H or school construction/modernization as these funds are available solely for these activities and not for the general operations of the District. 5
6 General Fund, Charter Fund and Other Funds 6
7 In the entire general fund, over $6.2M in funds have been encumbered but not yet expended; Of this amount, $3,568,121 is unrestricted and $643k is in supplies. 7
8 Fiscal Year Estimated Unrestricted Expenditure in June Actual Unrestricted Expenditure in September and variance Estimated Restricted Expenditure in June Actual Restricted Expenditure in September and variance Variance between June estimate and actuals $79,998,294 $78,427,926 ($1,570,368) $46,892,023 $41,783,565 ($5,108,458) ($6,678,826) $90,370,246 $89,651,214 ($719,032) $53,669,155 $48,186,203 ($5,482,952) ($6,201,984) $114,817,023 $111,306,653 ($3,510,370) $50,676,960 $45,300,708 ($5,376,252) ($8,886,622) $125,638,361 $126,050,421 $412,060 $54,481,674 $49,080,388 ($5,401,286) ($4,989,226) 8
9 General Fund Revenues 16/17 Third Interim General Fund Expenses 16/17 Third Interim Beginning Balance $4,247,839 Certificated Salaries 50.3% of current expense $90,663,937 State Revenues 92% of current revenue $150,077,574 LCFF $9,044,697 Other State Classified Salaries 17.2% Employee Benefits 16.7% $30,924,442 $30,091,659 Federal Revenues 5.3% $9,210,973 Books and Supplies 4.3% $7,748,358 Local Revenues 2.7% $5,409,491 Services 11.5% Capital.02% $20,643,792 $334,125 Transfers In From/Out to Other Funds Total Available Funds $2,865,206 Includes Transfer in of $ from Fund 17 Reserves to Fund 01 General Fund $180,855,780 Other (-.02%) ($316,685) Total Use of Funds $180,089,629 Projected 16/17 Ending General Fund Balance $ 766,151 9
10 Projected Funds 01/17 Balances proj. June 30, 2017 Fund 1 = $766,151 Fund 17 =$5,601,724 Total Available = $6,367,875 Nonspendable: Revolving Cash ($71,250) Legally and Locally Restricted: State or Federal Categorical Programs Local Grants Local Assignments Title 1 - ( $ 1,829 ) Local Gifts or Grants ( $ 9,608 ) Special Education Mental Health Funds ( $179,366 ) Educator Effectiveness Grant ( $503,979 ) Total Restricted: ( $694,600 ) Reserve for Economic Uncertainty: Target reserve level per Board Policy in Fund 17 is 7.5% or approximately: $12,766,192 (District at 44% of target reserve levels) $5,602, % of 17/18 Draft Adopted Budget 3.1% of Third Interim Budget 3.00% is State Minimum Reserve Requirement 10
11 11
12 Fund Adjusted Beginning Fund Balance Gain (Loss) Revenue minus expenses Ending Fund Balance Notes: Fund 09 Charter Schools $1,942,555 ($719,948) $1,222,907 Although all Charter school finances are reported through Fund 9, NVUSD assigns and tracks our Charter School finances in separate funds: River Charter = $670,750 NVLA Charter = $552,057 Fund 11 Adult Education $ 494,273 ($260,055) $234,219 This is the second year of the new consortium model with our Napa Valley College and community partners. Funding at the current levels is expected for the 17/18 school year. The consortium can only serve students 18 years of age or older. 12
13 Fund Adj. Beg. Balance Gain (Loss) Revenue minus expenses Ending Bal. Notes: Fund 12 Child Devlp Fund 13 Cafeteria Operating Budget $5.3M Fund 17 Special Reserve Non Capital $ 102,149 ($16,331) $85,818 Other non-fee based programs related to child care are operated through this fund. These programs in this fund were operated in 16/17 with pre-consortium Adult Ed carryover. The sustainability of these programs are being reviewed. $ 18 $-0- $ 18- Food Services operations are accounted for here. This program is transitioning into a self-op model. For 2017/18,$265k has been allocated to improve free and reduced participation levels via changes in menus and offerings. $8,449,619 ($2,847,895) $5,601,724 Per Board Policy, a reserve for economic uncertainty of 7.5% should be maintained. This reserve is being used to offset reduced revenue and increasing expenses. 13
14 Fund Adj. Beg. Balance Gain (Loss) Revenue minus expenses Ending Bal. Notes: Fund 21 Local General Obligation Bonds Fund 25 Developer Fees Fund 35 County School Facilities Fund Fund 40 Special Reserve Capital Outlay $-0- $122,596,662 $122,596,662 Funds from the first issuances of Measure H bonds earmarked as approved for construction and technology projects. $1,644,387 ($1,484,594) $159,793 Funds from developer fees paid and are earmarked for growth related projects. $4,179,687 ($3,861,004) $318,683 State construction funds are used for capital construction projects. $260,150 $219,642 $479,792 These funds are earmarked for infrastructure/capital projects or purchases. The District accounts from the proceeds from the sale of real property in this fund. 14
15 Fund Adj. Beg. Balance Gain (Loss) Revenue minus expenses Ending Bal. Notes: Fund 63 Enterprise Fund $ 97,129 ($56,712) $40,417 This fund is utilized to account for fee based child care programs. Fund 67 Self Insurance Fund $1,011,420 ($189,219) $822,201 These funds are held in reserve for active claims prior to July 1, At this time most property and liability tail claims have been settled. The remaining funds are held for future tail claims related to workers compensation cases. NBSIA is assisting the District in the management of these past claims. Fund 73 Foundation Trust Fund $728,845 ($86,734) $642,111 This fund is the repository for high school scholarship trust accounts. 15
16 General Fund is expected to end the year with moderate deficit spending; Charter funds, NVLA and River School are also deficit spending but at a lesser degree than the General Fund, in part due to a different staffing model used for their specialized programs; Adult Education will support the teen parent program this fiscal year but the support needed to continue this program into will need to come from other sources; Measure H projects in Phase One of the Facilities Master Plan are ramping up as the year closes, with major technology upgrades scheduled for completion by September
17 Enrollment Pension/retirement costs Multi-Year Planning 17
18 18
19 Projected Future Enrollment Actual Projected Grade TK K 1,177 1,084 1,070 1,129 1,101 1,198 1,218 1,239 1,259 1,277 1, ,202 1,163 1,075 1,060 1,114 1,099 1,195 1,216 1,236 1,256 1, ,267 1,193 1,156 1,069 1,053 1,116 1,102 1,197 1,218 1,237 1, ,236 1,270 1,198 1,160 1,072 1,065 1,128 1,115 1,211 1,231 1, ,288 1,243 1,278 1,207 1,165 1,088 1,082 1,143 1,132 1,229 1, ,446 1,294 1,251 1,286 1,213 1,180 1,104 1,098 1,158 1,149 1, ,395 1,454 1,305 1,261 1,294 1,230 1,196 1,121 1,116 1,174 1, ,377 1,408 1,468 1,318 1,273 1,315 1,251 1,216 1,142 1,136 1, ,419 1,380 1,412 1,472 1,321 1,285 1,327 1,263 1,228 1,154 1, ,498 1,532 1,491 1,526 1,589 1,434 1,395 1,441 1,371 1,333 1, ,469 1,492 1,527 1,487 1,520 1,591 1,436 1,398 1,443 1,374 1, ,483 1,450 1,475 1,509 1,468 1,509 1,578 1,426 1,388 1,432 1, ,450 1,460 1,429 1,454 1,486 1,453 1,493 1,562 1,411 1,374 1,418 TK-5 7,826 7,425 7,203 7,094 6,897 6,943 7,029 7,211 7,420 7,588 7, ,191 4,243 4,185 4,051 3,889 3,831 3,774 3,600 3,485 3,464 3, ,900 5,934 5,923 5,976 6,063 5,986 5,903 5,826 5,614 5,514 5,371 NPS TRANSITION Total 17,975 17,660 17,368 17,179 16,907 16,818 16,764 16,695 16,576 16,623 16,723
20 As of today, TK-5 enrollments for 17/18 stand at 7,515, an estimate 90 more than projected by the demographers.however, we historically have movement to and from the District during the summer. Generally, we don t have enrollment stabilized until after Labor day; There is push throughout Napa County to address the affordable housing crisis. Affordable housing units always produce a greater number of students than market rate housing units. However, from conception through approval and construction, we are looking at impacts that will be five or more years into the future; Watson Ranch and Napa Pipe residential developments remain stalled due to various issues and concerns. 20
21 21
22 22
23 2016/ / /19 (A)Beginning Balance GF and Fund 17 $12,697,458 $6,367,875 $5,273,301 LCFF Revenues $150,077,574 $151,008,487 $155,995,365 Transfers to/from other resources and funds ($ 50,000) ($ 50,000) ($50,000) Other State Revenues $9,044,697 $5,494,278 $6,610,266* Federal Revenues $9,210,973 $7,653,854 $7,653,854 Local Revenues $5,476,803 $5,460,705 $5,460,705 (B)Total Revenues $173,760,047 $169,617,325 $175,720,190 Salaries and Benefits $151,680,038 $143,773,426 $147,993,044 Supplies $7,748,358 $6,672,611 $6,672,611 Utilities/Insurance/Serv $20,643,792 $20,622,987 $20,622,987 Capital and Other $17,440 ($357,125) ($191,910) (C)Total Expenses $180,089,628 $170,711,899 $175,096,732 Gain/Loss (B-C) ($6,329,581) ($1,094,574) $623,458* Projected Ending Balance (A+B-C) $6,367,875 $5,273,301 $ 5,896,759 23
24 Projected Deficit March 2017: $12.4M Period 2 attendance increases deficit: $1.6M Updated deficit calculation after P-2: $14M May Revision increases LCFF funding: ($1.7M) Revise deficit target: $12.3M Current reductions in 17/18 budget: Balance to be identified: ($9.5M) $2.8M 24
25 Current 17/18 deficit to be addressed: Range of solutions: ($2,788,509) Identification of additional reductions during the final staffing/assignment process: $500,000 - $800,000 During closing process, the identification of unallocated resources in the General Fund in 16/17: $400,000 - $1,400,000 Freeze the allocation of funds in the 17/18 general fund unrestricted yet to be allocated budget: $400,000 - $700,000 Current projected best case scenario, the deficit is reduced to a range of $0 - $1.48M. To maintain the minimal reserve level, Board would need to initiate additional reductions in 2017/18. 25
26 2017/ / / /21 GF Estimated Reduction Required All Possible Reductions Identified Through May 2017 $12.3 M With One-time Funds: $451,500 Without one-time funds: $2.9M $16.8M $6.6M (many possible solutions would need to be negotiated) Recommended As of $12.370M Amounts needed May 18 th to maintain 3.25% Reserve Range - $1.9M $4.2M Dependent upon cuts made in 18/19 Reductions identified in 18/19 but not needed Amounts needed to maintain 3.25% Reserve $5.7M Dependent upon cuts made in 18/19 and 19/20 Reductions identified in 19/20 but not needed Amounts needed to maintain 3.25% Reserve Adjustments as Percent of Budget Reserve Target 7.5% 7.27% 3.00% 3.25% 3.25% 3.25% 26
27 Staffing to contract levels certificated instruction; Staffing to approved levels (HR Formula) classified support; Curtailing program growth as enrollment declines; Identifying programs that can t be justified to continue based on data driven results; Identifying programs that can be funded by our community partners; Identifying ways to market the District in order to bring in both local and inter-district students (stabilize enrollment); Last possible solutions to discuss that would require union agreement: Reduction and/or elimination of stipends and mileage reimbursements; Furlough days (non-instructional); Temporary increases in class sizes. 27
28 June 1 st Public Hearing and concurrent presentation of the LCAP and the Budget ; June 2 nd through June 8 th, any final adjustments made to the Budget based on: Changes in the State budget; Enrollment projection changes; Staffing changes; Program requests. June 15 th, submit to the Board for approval and adoption the 2017/18 Budget concurrently with the 2017/18 LCAP. Submit Budget and LCAP to Napa County Office of Education for approval. 28
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