Saugus Union School District. Respect Integrity Learning Teamwork Enthusiasm First Interim Financial Report

Transcription

1 Saugus Union School District Respect Integrity Learning Teamwork Enthusiasm Financial Report Presented December 5, 2017

2 Administration Governing Board Dr. David Powell, President Christopher Trunkey, Clerk Paul De La Cerda, Member Judy Egan Umeck, Member Julie Olsen, Member District Administration Dr. Joan M. Lucid, Superintendent Nick Heinlein, Assistant Superintendent of Business Dr. Isa De Armas, Assistant Superintendent of Education Services Dr. Jennifer Stevenson, Assistant Superintendent of Human Resources School Site Administration Bridgeport Dr. Carin Fractor, Principal Michelle Velikorodnyy, Assistant Principal Cedarcreek Robin Payre, Principal Emblem Academy Jon Baker, Principal Jenny Quan, Assistant Principal James Foster Dr. Deborah Bohn, Principal Helmers Pete Bland, Principal Michelle White, Administrator Intern Highlands Susan Bender, Principal Mountainview Katie Demsher, Principal Misty Covington, Assistant Principal North Park Vicki Kubasak, Principal David Stepner, Administrator Intern Plum Canyon Mary Mann, Principal Rio Vista Gina Nolte, Principal Rosedell Kathy Stendel, Principal Lisa Locos, Assistant Principal Santa Clarita Theophane Korie, Principal Skyblue Mesa Kimberly Humphries, Principal Tesoro Del Valle Paul Martinsen, Principal West Creek Academy Susan Bett, Interim Principal Dr. Alina Vehuni, Assistant Principal

3 Table of Contents General Information... 4 About the District... 4 District Mission Statement... 4 District Vision... 4 Core Values... 4 Awards... 4 Overview... 5 District Funds... 6 General Fund - Fund Overview... 7 Revenue Summary... 8 Expenditures Summary Unrestricted Expenditures Graph Restricted Expenditures - Graph Combined Expenditures - Graph Fund Balance and Reserve Breakdown of Ending Fund Balance Other Funds Multi-Year Projections for General Fund Fund Assumptions Unrestricted Expenditures Restricted Expenditures Combined Expenditures... 24

4 General Information About the District The Saugus Union School District is a preschool to sixth grade school district providing elementary level education under a single Governing Board and centralized administration. The District currently operates 15 Elementary Schools, a Maintenance & Operations and Transportation facility, and a District Office. The District encompasses approximately 94 square miles of land, most of which is on the west side of the Santa Clarita Valley in Los Angeles County. The Governing Board of the District consists of five elected members. Beginning with the November 2016 election, members were elected from designated geographic boundaries. Members of the Board elect a president each year at the organizational meeting in December. The day-to-day affairs of the District are under the direction of the Superintendent. District Mission Statement The Saugus Union School District in partnership with the home and community is committed to excellence in elementary education. District Vision Academic Success for Every Child Core Values Respect Integrity Learning Teamwork Enthusiasm Awards 14 - California Gold Ribbon Schools 2 - California Exemplary Arts Schools 13 - California Distinguished Schools 3 - California Achieving Title I Schools 5 - National Blue Ribbon Schools 1 - National Achieving Title I School 5 - CBEE Honor Roll Schools

5 Overview Education Code (EC) Sections 35035(g), and require the Governing Board of each school district to certify at least twice a year to the District s ability to meet its financial obligations for the remainder of that fiscal year and for the subsequent two fiscal years. This is called the Interim Report Process. The Governing Board must certify that the District fits one of the following: Positive - based upon the current projections, the District will meet its financial obligations for the current fiscal year and subsequent two fiscal years. Qualified based upon the current projections, the District may not meet its financial obligations for the current fiscal year or two subsequent fiscal years. Negative based upon the current projections, the District is unable to meet its financial obligations for the remainder of the fiscal year or the subsequent fiscal year(s). It is the District s intent to issue an Executive Summary to help our stakeholders understand the elements of the Standardized Account Code Structure (SACS) Interim Financial Report of the District.

6 District Funds A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations (California School Accounting Manual 2016). In the current fiscal year, there were thirteen funds in the District accounting system: General Fund (Fund 01) Special Education Pass-Through Fund (Fund 10) Child Development Fund (Fund 12) Deferred Maintenance Fund (Fund 14) Special Reserve Fund Other Than Capital Outlay Projects (Fund 17) Building Fund (Fund 21) Capital Facilities Fund (Fund 25) County School Facilities Fund (Fund 35-to be closed June 30, 2018) Special Reserve Fund for Capital Outlay Projects (Fund 40-to be closed June 30, 2018) Capital Project Fund Blended Component Units (Fund 49) Debt Services Fund for Blended Component Units (Fund 52) Debt Service Fund (Fund 56-Lease Revenue Bond) Other Enterprise Fund Child Development Programs (Fund 63)

7 General Fund - Fund 01 Overview Revenue The General Fund receives two different types of revenue: Unrestricted funds whose uses are not subject to external or legal constraints and may be used for any purpose not prohibited by law. Restricted funds subject to constraints imposed by external resource providers or by law through constitutional provisions or enabling legislation. Revenues are also classified into the following subcategories; LCFF Sources, Federal Sources, Other State Revenue, Other Local Revenue. Unrestricted Revenue The Local Control Funding Formula (LCFF) is the primary unrestricted revenue source for the District. The LCFF is comprised of the base grant, additional funding for K-3 Class Size Reduction (CSR), supplemental grants for English learners, low-income, foster youth and homeless students, and add-ons for Home-to- School Transportation and a Targeted Instructional Improvement Grant (TIIG). All of these sum to become our Principal Apportionment. The Principal Apportionment is comprised of State Aid, Education Protection Act, and local property taxes monies. The LCFF apportionment amount is derived from a mathematical calculation utilizing the District s current year or prior year average daily attendance (ADA) through the attendance reporting period named P-2 (typically a date in the middle of April), base grant per student value, Cost of Living Allowance (COLA), GAP funding percentage (set by the California Department of Finance), and the percentage of students that are either English learners, low-income, foster youth, or homeless (unduplicated count). Restricted Revenue Restricted revenues are subject to externally imposed and legally enforceable constraints imposed by external providers, or by law through constitutional provisions. [7]

8 Revenue Summary The the CBED s total enrollment is projected to be 9,960, this is an increase of 60 students from fiscal year The enrollment number accounts for a projected increase of P2 ADA of 81.50, for a projected ADA of 9, The attendance rate is projected to be at 97.03%. The State approved costof-living adjustment for the base grant is 1.56%, and the GAP funding percentage is 43.19%. The Districts Local Control Funding Formula is projected to yield revenue totaling $76,533,571. The State approved a one-time Mandated Block Grant (MBG) reimbursement funding of $147 based on prior year ADA ( ). The District is projected to receive $1,411,955 for MBG reimbursements. State Lottery rates for unrestricted has increased to $146 per ADA and restricted to $48 per ADA, yielding a projected revenue of $1,940,631. The District is projected to make contributions from the unrestricted general fund of: $2,231,858 to the Routine Restricted Maintenance Account (RRMA), or 2.47% of total general fund expenditures; $9,101,476 to special education, and $1,908,372 to the regional autism program. The District is projecting a decline in Special Education funding of approximately $575,000 due to the regional SELPA (Santa Clarita Valley Special Education Local Plan Area) changing the mathematically formula used to distribute the State funds among all participating Districts. Total combined unrestricted and restricted revenue for is projected to be $97,186, General Fund (Fund 01.0 and Fund 01.1) Approved Budget Combined Budget Unrestricted Budget Restricted Budget Combined LCFF Revenue $ 75,803,351 $ 76,533,572 $ - $ 76,533,572 Federal Revenue $ 3,352,457 $ - $ 3,443,183 $ 3,443,183 State Revenue $ 7,696,652 $ 3,236,627 $ 5,191,255 $ 8,427,882 Local Revenue $ 8,567,035 $ 1,668,109 $ 6,863,355 $ 8,531,464 Transfers In $ 250,540 $ 250,540 $ - $ 250,540 Contributions - SPED/Maint $ - $ (14,380,851) $ 14,380,851 $ - Total Revenue $ 95,670,035 $ 67,307,997 $ 29,878,644 $ 97,186,641 [8]

9 Total projected combined revenue for is projected to be $97,186,641. Other Local Revenue $8,531, % Transfers In $250, % Other State Revenue $8,427, % Federal Revenue $3,443, % LCFF Sources Revenue $76,533,572 [9]

10 Expenditures Summary Expenditures also fall within the unrestricted and restricted type. However, they are classified into the following categories; Certificated Salaries, Classified Salaries, Employee Benefits, Books and Supplies, Services and Other Operating Expenditures, Capital Outlay, and Other Outgo. Certificated Salaries includes 359 general education teachers and 36 special education teachers. Salaries remain relatively static due to several of the 25 teachers retiring/resigning were at the top of the step and column salary scale and were replaced with mid-range teachers who have not yet earned longevity stipends. Additional staffing added since Budget Adoption are two general education teachers, one psychologist, and one behavioral intervention specialist. The CalSTRS rate is %; an increase of % from Total projected cost to the District is $9,784,318. The CalPERS rate is %, an increase of % from Total projected cost to the District is $2,272,292. The following charts illustrates the historical and projected pension rates and costs: [10]

11 Saugus Actual & Projected STRS* Saugus Percent Increase STRS Books and Supplies account for expenditures related to textbooks, novels, reference materials, and noncapitalized (under $5,000) classroom technology and equipment. Books and supplies increased mainly due to the addition of carryover funds. State Rates STRS State Percent Increase STRS Services and Other Operation Expenditures account for services, rentals, leases, contracts, membership dues, travel, insurance, utilities, legal, and other basic general and administrative expenditures. The expenditures for services increased mainly due to the addition of carryover. Capital Outlay are expenditures for items such as technology, equipment, and furniture with a purchase price over $5,000. Other Outgo includes excess costs for special education regional programs. Total expenditures increased 2.14% from the Adopted Budget, due in part from the allocation of approximately $989,033 of expenditures from fund balance. Saugus Actual & Projected PERS Total June 30, 2019 projected combined expenditures is $100,416,086: Saugus Percent Increase PERS State Rates PERS State Percent Increase PERS Fiscal Year ,203, % 8.250% 0.00% 1,196, % % 0.22% ** 3,556, % 8.880% 7.64% 1,394, % % 2.88% ,413, % % 20.83% 1,456, % % 0.65% *** 5,417, % % 17.24% 1,942, % % 17.23% ,235, % % 14.71% 2,272, % % 11.83% ,087, % % 12.82% 2,692, % % 16.54% ,970, % % 11.36% 3,120, % % 14.92% *Excludes STRS On-Behalf **Para Educators increase from 3.75 to 6.5 hrs and become eligible for PERS ***All employees received a 5% salary increase General Fund (Fund 01.0 and Fund 01.1) Approved Budget Combined Budget Unrestricted Budget Restricted Budget Combined Certificated Salaries $ 44,553,731 $ 36,217,600 $ 8,139,462 $ 44,357,062 Classified Salaries $ 17,433,581 $ 9,769,048 $ 7,797,127 $ 17,566,175 Benefits $ 21,583,547 $ 13,529,958 $ 8,583,067 $ 22,113,025 Books and Supplies $ 3,420,428 $ 1,907,044 $ 1,638,564 $ 3,545,608 Services and Operating Expenses $ 8,776,238 $ 6,730,339 $ 2,759,905 $ 9,490,244 Capital Outlay $ 1,817,085 $ 70,000 $ 1,747,085 $ 1,817,085 Other Outgo-(excludes indirects) $ 1,597,414 $ 660,297 $ 1,386,971 $ 2,047,268 Other Outgo-(indirects) $ (23,255) $ (299,230) $ 275,975 $ (23,255) Total Expenditure $ 99,158,769 $ 68,585,056 $ 32,328,156 $ 100,913,212 [11]

12 Unrestricted Expenditures Graph Total June 30, 2018 projected restricted expenditures is $68,585,056. Services and Other Expenditures $6,730, % Capital Outlay $70, % Books and Supplies $1,907, % Transfer Out $361, % Employee Benefits $13,529, % Certificated Salaries $36,217, % Classified Salaries $9,769, % 87.34% of Expenditures Pays Employee Salaries and Benefits [12]

13 Restricted Expenditures - Graph Total June 30, 2018 projected restricted expenditures is $32,328,156. Capital Outlay $1,747, % Transfer Out $1,662, % Certificated Salaries $8,139, % Services and Other Expenditures $2,759,905 - Books and Supplies $1,638, % Classified Salaries $7,797, % Employee Benefits $8,583, % 75.85% of Expenditures Pays Employee Salaries and Benefits [13]

14 Combined Expenditures - Graph Total June 30, 2018 projected combined expenditures is $100,913,212. Services and Other Expenditures $9,490, % Capital Outlay $1,817, % Transfer Out $2,024, % Books and Supplies $3,545, % Certificated Salaries $44,357, % Employee Benefits $22,113, % Classified Salaries $17,566, % 83.28% of Expenditures Pays Employee Salaries and Benefits [14]

15 Fund Balance and Reserve The General Fund 01 combined beginning fund balance as of July 1, 2017 is $13,974,512. The projected June 30, 2018 ending fund balance is $10,247,941. The unrestricted beginning fund balance as of July 1, 2017 is $10,719,280. The projected June 30, 2018 unrestricted ending fund balance is $9,442,221. The restricted beginning fund balance as of July 1, 2017 is $3,255,232. The projected June 30, 2018 restricted ending fund balance is $805,720. The $805,720 is comprised of; $139,043 of restricted lottery funds, $447,691 of SELPA funds, and $218,985 of locally restricted funds. The State requires school districts to maintain a 3% reserve based on total combined expenditures. The projected 3% reserve requirement is $3,027,396. The District has meet the reserve obligation with a reserve of $12,403,161 or 12.29% of expenditures. The District s required reserve includes the Special Reserve Fund 17.0 in the amount of $3,000,639. Fund 17.0 is being used to help fund the increases in CalSTRS and CalPERS rates as they outpace revenues. General Fund Approved Budget Budget Budget Budget Combined Unrestricted Restricted Combined Subtotal Surplus/(Deficit) $ (3,488,734) $ (1,277,059) $ (2,449,512) $ (3,726,571) Fund Balance Beginning Fund Balance - July 1 14,100,248 10,719,280 3,255,232 13,974,512 Ending Fund Balance - June 30 10,611,514 9,442, ,720 10,247,941 Nonspendable-Revolving Cash/Stores 39,860 39,699-39,699 Restricted 1,614, , ,720 Reserve for Economic Uncertainties - Fund 01 8,956,992 9,402,522-9,402,522 Reserve for Economic Uncertainties - Fund 17 2,812,067-3,000,639 Unassigned Ending Fund Balance Total Available Reserves by Amount 11,769,059 12,403,161 Total Available Reserves by Percent 11.87% 12.29% [15]

16 Breakdown of Ending Fund Balance BREAKDOWN OF ENDING FUND BALANCE Lottery: Instruction Materials $ 142,744 SELPA $ 447,691 ASES $ 215,285 Nonspendable - Revolving Cash/Stores $ 39,699 Reserve for Economic Uncertainties $ 9,402,522 Projected Ending Fund Balance at June 30, 2018 $ 10,247,941 Additional Reserve Fund 17.0 $ 3,000,639 [16]

17 Other Funds Other Funds July 1, 2017 Beginning Fund Balance FUND 10: SPECIAL EDUCATION PASS-THROUGH FUND: The Saugus Union School District is the Administrative Unit (AU) for the Hart, Newhall, Sulphur Springs and Castaic school districts. This fund is used by the AU to account for Special Education revenue passed through to the other member LEAs. Revenues budgeted in this fund includes State special education apportionments, Federal local assistance under the Individuals with Disabilities Education Act, Federal preschool funding and State mental health funding. The projected Federal and State funding is $8,355,472 and $29,581,857, respectively. The projected ending balance is $10,000 of interest earned. Note: Special Education revenue that is not passed through to the other member LEAs is retained for use by the SELPA AU (Saugus is the administrative unit for the SELPA) in accordance with the local plan and is not accounted for in this fund; it is included in the General Fund Projected Revenue Projected Expenditures June 30, 2018 Projected Ending Fund Balance SELPA Pass-Through (Fund 10) - 37,947,329 (37,937,329) 10,000 Child Development Program (Fund 12) 24, ,557 (431,607) 2,032 Deferred Maintenance (Fund 14) 1,565, ,651 (857,968) 1,094,548 Special Reserve Other Than Capital Outlay Projects (Fund 17) 2,815, ,755-3,000,639 Building (Fund 21) 15,203,183 2,104,651 (5,257,825) 12,050,009 Capital Facilities (Fund 25) 10,986,910 1,748,000 (115,399) 12,619,511 Special Reserve for Capital Outlay Projects (Fund 40) Capital Project Blended Component Units (Fund 49) 32,186, ,175 (10,461,300) 21,841,946 Debt Services for Blended Component Units (Fund 52) 22,852,109 11,957,243 (11,142,578) 23,666,774 Debt Services (Fund 56) 12,244,876 45,000 (795,000) 11,494,876 Other Enterprise/Child Development Program (Fund 63) * 8,539,662 6,263,547 (5,940,232) 8,862,977 *Ending Balance includes fixed assets of $4.3MM and cash of approximately $4MM. FUND 12: CHILD DEVELOPMENT FUND: This fund is used to account separately for Federal, State, and local resources to operate Child Development Programs. The program includes three State Preschools located at Cedarcreek, Rio Vista and Santa Clarita. Total projected revenues for the Child Development Programs are $409,557 and total expenditures are $431,607. The ending balance is projected to be $24,082. FUND 14: DEFERRED MAINTENANCE FUND: This fund is used to account separately for State apportionments and District matching contributions for deferred maintenance projects. Expenditures in this fund are for major building repairs such as HVAC, roofing, floor replacement, plumbing or other [17]

18 authorized replacements. The Deferred Maintenance account reflects no restricted revenue from State sources as a result of the State releasing the funding requirement and declaring those funds unrestricted. With implementation of the Local Control Funding Formula, funds are included in the base grant in the General Fund. The projected ending fund balance as of June 30, 2018 is $1,094,548. Projected revenues in include interest in the amount of $14,500 and $372,151 transferred into Fund 14.0 from Fund Expenditures include repairs and maintenance at the school site based on a priority listing maintained by the District Maintenance & Operations department. Total projected expenditures for are $857,968. FUND 17: SPECIAL RESERVE FOR OTHER THAN CAPITAL OUTLAY PROJECTS: This fund is used primarily to provide for the accumulation of general fund moneys for general operating purposes other than for capital outlay. These funds are accounted for in the overall fund balance. Transfers into Fund 17.0 from Fund 01.0 include the projected Santa Clarita Food Service revenue of $124,975. As this is a reserve fund there are no expenditures projected for Interest income is projected to be $59,780. The June 30, 2018 projected ending fund balance is $3,000,639. FUND 21: BUILDING FUND: Also known as the G.O. Bond Fund. This fund exists primarily to account for proceeds from the sale of bonds and may not be used for any purposes other than those for which the bonds were issued. Current funds includes the Lease Revenue bond, the Measure E bond, and the Measure EE bond. Projected expenditures for are $7,174,292: This includes projected expenditures of $5,619,192 for Measure EE administrative management, and Phase 1 projects designated in the Measure EE Master Plan; projected expenditures of $330,100 from the Lease Revenue bond; and projected expenditures of $1,225,000 from Measure E. The June 30, 2018 projected ending fund balance is $4,960,769; this includes the projected ending fund balance for Measure EE of $2,377,750. FUND 25: CAPITAL FACILITY FUND: Also known as the Developer Fee Account, this fund is used to account for monies received from fees levied on developers or other agencies as a condition of approving a development. The District currently receives Level II residential fees of $2.52 per square foot of habitable space, Level III residential fees of $5.04 per square foot of habitable space, and $0.25 per square foot of commercial or industrial development. The interest earned in this fund is restricted to this fund. The expenditures in this fund are restricted to the purposes specified in agreements with the developer or specified in Government Code. Level I, Level II, Level III, and Commercial fees for are projected to be $1,748,000. Projected expenditures for , which includes overhead and administrative expenses, consulting fees for SFNA s, fair share mitigation analysis, and other related research and analysis, are $115,399. The balance sheet contains a liability of $662,429 of Level III [18]

19 Developer Fees that may be refunded to developers when the State funds their facilities bonds. The June 30, 2018 projected ending fund balance is $12,619,511. FUND 40: SPECIAL RESERVE FUND FOR CAPITAL OUTLAY PROJECTS: This fund is used to account for transfers authorized by the governing board from the General Fund and must be expended for capital outlay purposes. The use of the funds in this account are to support debt service payments for the Lease Revenue Bond. This fund will be closed at June 30, 2017, and fund balances have been transferred to Fund FUND 49: CAPITAL PROJECT FUND FOR BLENDED COMPONENT UNITS: This fund is used to account for capital projects financed by Mello-Roos Community Facilities Districts. The Mello-Roos Community Facilities Act of 1982 allows the District to establish a CFD upon approval of 2/3 of the voters in the District. A CFD is for the purpose of selling tax-exempt bonds to finance public improvements and services. Projected revenues and expenditures of $117,175 and $10,461,300, respectively account for a projected June 30, 2018 ending fund balance of $24,841,946. FUND 52: DEBT SERVICE FUND FOR BLENDED COMPONENT UNITS: This fund is used to account for the accumulation of resources for the payment of principal and interest on bonds issued by Mello-Roos Community Facility District. Projected revenue of $11,957,243 represents tax and interest income. Projected expenditures of $11,142,578 represents debt service payments and administrative expenses. The June 30, 2018 projected ending fund balance is $23,666,774. FUND 56: DEBT SERVICE: This fund is used to account for transfers authorized by the governing board from the General Fund and must be expended for capital outlay purposes. The use of the funds in this account are to support debt service payments for the Lease Revenue bond. Projected revenue of $45,000 represents interest income. Projected expenditures of $790,000 represents debt service payments. The June 30, 2018 projected ending fund balance is $11,494,876. FUND 63 OTHER ENTERPRISE FUND: This fund is used to account for any activity for which a fee is charged to external users for goods or services. The Child Development Programs (CDP) have been treated as an Enterprise Fund, because the programs are not subsidized by State or Federal funds and are operated with the intent of recovering the costs of the program through tuition charges and registration and other related fees. The Child Development Programs includes; preschool (1/2 day and full day), before school care, after school care, child care for winter and spring breaks, and summer fun [19]

20 camp. The projected revenue includes a 5% tuition increase. Total projected revenues for are $6,263,547. Projected expenditures are $5,689,692. The largest projected expenditures are certificated salaries, classified salaries, and employee benefits totaling $4,164,739. The remaining expenditures includes operating fees, material and supplies, services, and other operating expenditures totaling $5,689,692. In addition, $250,540 is projected to be transferred from Fund 63.0 into Fund 01.0 for indirect costs, this represents 4% of gross revenue. The June 30, 2018 projected ending net position is $8,862,977, which includes the value of the building and equipment (fixed assets) of $4,366,979. [20]

21 Multi-Year Projections for General Fund Fund 01 Assumptions The multi-year budget projections (MYP) for the Report utilize the recommended assumptions published by the Los Angeles County Office of Education (LACOE). The multi-year revenue budget assumptions illustrates LCFF revenue approaching full funding, and an increase in enrollment with the understanding that some school sites are seeing growth while other school sites are experiencing declines. Expenditure projections include step and column increases for salaries, pension increases per STRS and PERS, and CPI increases for non-salary related expenditures. The following are the budget assumptions used for the MYP. MYP Budget Assumptions LCFF GAP Funding % 43.19% 66.12% 64.92% MBG - One time funding ($147 per PY ADA) $1,411,955 $0 $0 Statutory COLA 1.56% 2.15% 2.35% Enrollment (CALPADS) 9,960 9,837 9,837 P2 ADA 9, , , Funded ADA 9, , , Attendance Factor 97.03% 97.03% 97.03% Unduplicated Count % (3-year average) 27.23% 28.91% 30.63% Lottery-Unrestricted; per ADA $146 $146 $146 Lottery-Restricted; per ADA $48 $48 $48 CalSTRS Employer Rate 14.43% 16.28% 20.80% CalPERS Employer Rate % % % CPI 3.42% 3.35% 3.02% Interest Rate for Ten-Year Treasuries 2.47% 2.66% 2.78% *There is no statutory guaranteed increase in funding in any given year until full implementation is reached. Therefore, LACOE states that if districts budget this increased revenue, they must have a contingency or alternative plan in place should these funds fail to materialize. [21]

22 Unrestricted Expenditures Unrestricted General Fund Budget MYP MYP LCFF Revenue 76,533,572 79,391,817 80,832,656 Federal Revenue State Revenue 3,236,627 1,787,695 1,765,930 Local Revenue 1,668,109 1,607,333 1,610,101 Transfers In 250, , ,540 Contributions - SPED/Maint (14,380,851) (15,477,033) (16,039,089) Total Revenue 67,307,997 67,560,352 68,420,138 Certificated Salaries 36,217,600 36,574,957 36,935,887 Classified Salaries 9,769,048 9,866,738 9,965,405 Benefits 13,529,958 14,509,090 15,517,808 Books and Supplies 1,907,044 1,970,929 2,030,452 Services and Operating Expenses 6,730,339 6,969,144 7,191,637 Capital Outlay 70,000 70,000 70,000 Other Outgo-(excludes indirects) 660, , ,297 Other Outgo-(included indirects) (299,230) (299,230) (299,230) Total Expenditure 68,585,056 70,321,925 72,072,256 Subtotal Surplus/(Deficit) (1,277,059) (2,761,573) (3,652,118) Fund Balance Beginning Fund Balance - July 1 10,719,280 9,442,221 6,680,648 Ending Fund Balance - June 30 9,442,221 6,680,648 3,028,530 Nonspendable-Revolving Cash/Stores 39,699 2,500 2,500 Restricted - Reserve for Economic Uncertainties - Fund 01 9,402,522 6,678,148 3,026,030 Unassigned Ending Fund Balance [22]

23 Restricted Expenditures Restricted General Fund Budget MYP MYP LCFF Revenue Federal Revenue 3,443,183 3,322,856 3,322,856 State Revenue 5,191,255 4,732,829 4,830,886 Local Revenue 6,863,355 6,863,578 6,863,818 Transfers In Contributions - SPED/Maint 14,380,851 15,477,032 16,039,089 Total Revenue 29,878,644 30,396,295 31,056,649 Certificated Salaries 8,139,462 8,109,636 8,189,140 Classified Salaries 7,797,127 7,870,777 7,949,525 Benefits 8,583,067 8,978,490 9,417,689 Books and Supplies 1,638, , ,100 Services and Operating Expenses 2,759,905 2,515,363 2,573,990 Capital Outlay 1,747,086 60,200 60,200 Other Outgo-(excludes indirects) 1,386,969 1,379,433 1,379,433 Other Outgo-(included indirects) 275, , ,975 Total Expenditure 32,328,156 30,176,101 30,835,052 Subtotal Surplus/(Deficit) (2,449,512) , , Fund Balance Beginning Fund Balance - July 1 3,255, ,720 1,025,914 Ending Fund Balance - June ,720 1,025,914 1,247,511 Restricted 805,720 1,025,914 1,247,511 Unassigned Ending Fund Balance [23]

24 Combined Expenditures State Required Reserves - 3% FY : The reserve requirement is met. FY : The reserve requirement is met. FY : The reserve requirement is met. ` [24]