LCFF LCAP. Local Control Accountability Plan

Transcription

1 June 2, 2015

2 LCFF Local Control Funding Formula LCAP Local Control Accountability Plan Expenditures based on District experience, and LCAP projections. Revenue estimates based on Governor s May Budget Revision Refinements are possible before adoption

3 Reflect increase in the Unrestricted Fund Balance Increase of $3,209,921 Total Projected Ending Fund Balance $35,126,747 Increases in ongoing revenue LCFF Gap from 29.15% to 29.97% One-Time reductions in expenditures Unfilled Positions, Substitutes Unexpended Allocations for Supplies and Contracts E-Rate, Electricity, Professional Fees Reduced Contributions to Special Education and Routine Restricted Maintenance

4 Budget Assumptions Step and Column Movement 1.25% Cost of Living Adjustment to LCFF Target 1.02% LCFF Gap Funding 53.08% Lottery Revenue Unrestricted $ Lottery Revenue Restricted $ Interest Rate for 10-year Treasuries 2.4% Consumer Price Index (CPI) 2.2% LCFF Unduplicated % for Supplemental 86.29% and Concentration Grants Benefits Soft Cap $16,972

5 Budget Assumptions Declining Enrollment / ADA P-2 ADA 19,600 19,450 19,400 19,200 19,157 19,000 18,800 18,600 18,400 18,643 18,468 Estimated 18,288 18,141 P-2 ADA 18,200 18,000 17,800 17,600 17,

6 BASE GRANT TARGET: Line No. Grade Span Funded ADA Prior Year Base Grant Rate COLA 1.02% Base Grant Rate Total Base Grant B-1 K-3 8,456 $ 7,748 $ 72 $ 7,820 $ 66,125,920 B ,220 $ 7,116 $ 73 $ 7,189 $ 44,715,580 B ,465 $ 7,328 $ 75 $ 7,403 $ 25,651,395 B-5 Total Base Grant Target $ 136,492,895 Base Grant Rates have been determined by the State and are the same for every district.

7 Supplemental and Concentration Grants: D-1c 2 Year Average Enrollment 19,207 D-2b 2 Year Average Unduplicated Pupil Count (English Learners, Free or Reduced-Price Meal and Foster Youth) 16,624 D-3 % of Enrollment Eligible for Supplemental Add-on 86.55% D-4 Supplemental Add-on (20% x D-3 x (B-5 + C-3)) $ 23,626,920 % of Enrollment Eligible for Concentration Add-on (if D-3<55%, enter 0, D-3 D-5 minus 55%) 31.55% D-6 Concentration Add-on (50% x D-5 x (B-5 + C-3)) $ 21,586,352 Transportation and TIIG Add-On: E Transportation Funding Add-on (no COLA) $ 309,220 E TIIG Funding Add-on (no COLA) $ 1,059,011 TOTAL LCFF ENTITLEMENT/TARGET: F - 1Total LCFF Entitlement/Target (B-5 + C-1 + C-2 + D-4 + D-6 + E-1 + E-2) $ 183,019,800

8 Gap Funding and Demonstration of Proportionality Current Year Funding = Total LCFF Gap* Gap Funding % $47,961,039 x 53.08% $25,457,720 Total LCFF Gap = $47,961,039 Target Entitlement $183,019,800 Floor / Minimum State Aid $135,058,761 Note: LCFF Funding = $136,046,001 Floor Funding Reduction due to declining ADA. ($987,240)

9 Demonstration of Proportionality: Calculating the Supplemental and Concentration Grants 2015/16 Total Gap Funding = 53.08% S&C Gap Funding: 28,550,888 x 53.08% 15,154,812 S&C Gap = $28,550,888 S&C Funding at Target: $45,158,674 S&C Spent Prior Year: $16,607,786

10 Gap Funding Attributable to Base Grant 2015/16 Total Gap Funding = 53.08% $25,457,720 Supplemental and Concentration Grant S&C Gap = $28,550, S&C Gap Funding: 28,550,888 x 53.08% 15,154,812 Base Funding at Target: 136,492,895 Base Floor: 118,450,975 Base Grant Base Grant Gap = $18,041, Base Grant Gap Funding: $25,457,720-15,154,812 $10,302,908 ADA Decrease ($987,240) $9,315,668

11 Demonstration of Proportionality: Total LCFF Revenue: Supplemental and Concentration Grant $160,516, S&C Gap Funding: $15,154,812 S&C Spent Prior Years: $16,607,786 Total to increase services to Target students : $31,762,597 Proportionality Percentage = Supplemental and Concentration / Total LCFF Revenue

12 Prior Year Mandate Claims Reimbursement Governor s May Revision Budget One Time Revenue Assigned to Fund Balance Funded on a per ADA Basis Estimated $601/ADA 2014/15 ADA at P2: 18,288 Estimated Change to Budgeted Revenues: $10,991,088

13 Governor s May Revision Budget One Time Revenue: Assigned to Fund Balance Funded on a per ADA Basis Estimated $601/ADA 2014/15 ADA at P2: 18,288 $10,991,088 Possible One Time Expenditures: OPEB Contributions $7.5 million - $114 million Educator s Computers $1.4 million Obsolete or Broken School Furniture and Equipment $2 million $10,900,000 - $117,400,000

14 Major Estimated Base Fund Expenditure Increases: Step & Column: $ 976,947 Consumer Price Index: $ 317,093 STRS/PERS Increase: $ 1,091,038 Technology Maintenance: $ 350,000 David G. Millen Utilities / Ins.: $ 184,833 Healthy Workplace Healthy Families: $ 251,982 Staffing Grade Span Adjustment: $ 591,375 Benefits Increases (Soft Cap Increase) $ 305,000 Benefits Increases (New Retirees) $ 450,000 Increased RRMA Contribution $ 3,226,633 $ 7,744,901

15 Estimated Actuals Budget Certificated Salaries 23,578,469 31,859,401 Includes LCAP Expenditures: Salaries and Benefits $25,741,517 Books and Supplies $ 2,714,580 Classified Salaries 9,173,086 11,363,477 Employee Benefits 14,948,774 20,036,800 Services and Other $ 3,306,500 Books and Supplies 7,694,628 6,034,305 $31,762,597 Services and Other Operating 8,823,530 11,295,758 Capital Outlay 2,264, ,594 Other Outgo 1,352, ,228 Transfers of Indirect Costs 619, ,470 Total Expenditures 68,454,322 81,808,033

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17 18,800 18,600 18,400 18,200 18,000 17,800 17,600 18,643 18,468 18,288 Estimated 18,141 Estimated Estimated 18,005 17,902 17,

18 Multi-Year Projection Factors Step and Column Movement 1.25% 1.25% Cost of Living Adjustment to LCFF Target 1.60% 2.48% LCFF Gap Funding 37.40% 36.70% Lottery Revenue Unrestricted $ $ Lottery Revenue Restricted $ $ Interest Rate for 10-year Treasuries 2.8% 3.0% Consumer Price Index (CPI) 2.4% 2.6% LCFF Unduplicated % for Supplemental and Concentration Grants 85.43% 85.45% Benefits Soft Cap $17,454 $17,965 STRS Employer Contribution 12.58% 14.43% PERS Employer Contribution 12.6% 15.0%

19 Budget Projection Projection REVENUES LCFF State Revenue 31,762,598 36,619,480 39,825,724 Federal Revenue 12,266,219 12,266,219 12,266,219 Other State Revenue 5,332,657 4,361,891 4,361,891 Other Local Revenue 12,592,292 12,592,292 12,592,292 Other Sources Contributions 20,723,262 20,782,860 20,881,713 TOTAL REVENUES 82,677,028 86,622,742 89,927,839 EXPENDITURES Certificated Salaries 31,859,401 33,652,804 36,468,991 Classified Salaries 11,363,477 11,967,056 12,026,891 Employee Benefits 20,036,800 22,783,746 25,365,457 Books and Supplies 6,034,305 7,038,315 7,212,865 Services, Other Operating Expenses 11,295,758 11,676,984 11,966,573 Capital Outlay 295, , ,772 Other Outgo 485, , ,228 Indirect Costs 437, , ,470 TOTAL EXPENDITURES 81,808,033 88,341,927 94,271,247 Increase/(Decrease) to Fund Balance 868,995 (1,719,185) (4,343,408)

20 Budget Projection Projection REVENUES LCFF State Revenue 128,761, ,899, ,909,548 Federal Revenue Other State Revenue 13,825,204 2,834,116 2,847,141 Other Local Revenue 1,840,087 1,593,748 1,593,748 Other Sources Contributions (20,723,262) (21,019,218) (21,295,951) TOTAL REVENUES 123,704, ,307, ,054,486 EXPENDITURES Certificated Salaries 52,847,222 53,507,812 54,176,660 Classified Salaries 12,808,204 12,968,307 13,130,411 Employee Benefits 30,143,993 32,266,321 34,311,821 Books and Supplies 4,410,472 4,516,323 4,633,748 Services, Other Operating Expenses 11,736,069 12,017,735 12,318,178 Capital Outlay 29,301 30,004 30,784 Other Outgo 315, , ,228 Indirect Costs (1,243,056) (1,243,056) (1,243,056) TOTAL EXPENDITURES 111,047, ,378, ,673,774 Increase/(Decrease) to Reserve 12,656, , ,712

21 Budget Projection Projection TOTAL REVENUES 123,704, ,307, ,054,486 TOTAL EXPENDITURES 111,047, ,378, ,673,774 Increase/(Decrease) to Reserve 12,656, , ,712 FUND BALANCE Beginning Fund Balance 35,126,747 47,783,315 48,712,610 Ending Fund Balance 47,783,315 48,712,610 49,093,322 Components of Fund Balance: Revolving Cash and Stores Inventory 200, , ,000 Assigned - Board Designated - 1% 1,928,554 2,027,206 2,119,450 Assigned LCFF Gap Funding 1,572,720 3,077,832 Assigned Prior Year Mandate One-Time 10,991,088 10,991,088 10,991,088 Economic Uncertainties 3% 5,785,662 6,081,618 6,358,351 Unappropriated Amount 28,878,011 27,839,979 26,346,603 Total : 47,783,315 48,712,610 49,093,322

22 Reserve Disclosure Fiscal Year Total Reserve SBE Required 3% Minimum Reserve Reserve above SBE Minimum Assigned Balance Above Minimum Reserve Unassigned Balance Above Minimum Reserve $47,783,315 $5,785,662 $41,997,653 $13,119,642 $28,878,011 $48,712,610 $6,081,618 $42,630,992 $14,712,228 $27,918,764 $49,093,322 $6,358,351 $42,734,971 $16,070,291 $26,664,680 Assigned Balance: Board Reserve. Unguaranteed funds. Unassigned Fund Balance: Results from revised revenue projections. Previously budgeted to be deficit spent.

23 Fund Estimated Revenues Estimated Expenditures Projected Restricted/Assigned Fund Balance 10 SELPA Pass-Through $58,546,400 $58,506,400 $51,000 Early Childhood 12 Education $13,642,839 $13,642,839 $254, Child Nutrition $12,745,193 $12,220,407 $3,773,862 Post Employment 20 Benefits $1,000 $0 $176, Building Fund $300,000 $16,680,296 $28,416 Reserve for Capital 40 Outlay $10,000 $324,957 $0 49 Capital Project Fund $0 $2,766,037 $23, Debt Service Fund $5,210,889 $3,855,302 $13,603, Debt Service Fund $3,000 $60,469

24 Steps to target continue to be uncertain One-Time Expenditures State Budget Adoption must take place by June 15 LCAP and Budget Public Hearings LCAP and Budget Approval

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