SECOND INTERIM FINANCIAL REPORT

Transcription

1 SECOND INTERIM FINANCIAL REPORT Review of the Projected Revenue and Expenditures. Projections are generated from updated information and entered into the Budget as Board Budget Revisions. Board Approval of the SECOND Interim Report with the acknowledgment that it was prepared using the most current financial information. Included in the Second Interim Report are Multi-Year Projections. Board approval of this Interim Report also confirms the District will be: solvent and meet its financial obligations for the current fiscal year and next fiscal year, but will be classified as QUALIFIED for The Cash Balances will be positive at the end of this fiscal year. 1

2 October 2008 CBEDS 3977 Enrollment as of Jan RL ADA estimated for the Second Interim Report is (based on ADA) P-1 ADA will be the accumulated attendance from July 1, 2008 to December 20, 2008 and will be reported in Jan P-2 ADA will be the accumulated attendance from July 1, 2008 to March 31, ADA historically has been between 95% and 96% of CBEDS 2

3 REVENUE COMPARISON TO ADOPTED BUDGET Description Object ADOPTED BUDGET as of Feb 2009 INCREASE (DECREASE) Revenues Revenue Limit Sources ,472,207 21,848,463 (623,744) Federal Revenues 8100/8200 1,193,147 1,254,055 60,908 Other State Revenues 8300/400/500 3,731,563 3,528,873 (202,690) Local Revenues 8600/8700 1,923,877 2,045, ,557 Total Revenues 29,320,794 28,676,825 (643,969) 3

4 EXPENDITURE COMPARISON TO ADOPTED BUDGET Description Expenditures Object ADOPTED BUDGET as of Feb 2009 INCREASE (DECREASE) Certificated Salaries ,579,190 15,696, ,352 Classified Salaries ,688,074 3,660,897 (27,177) Employee Benefits ,563,998 6,529,119 (34,879) Books & Supplies ,500 1,144, ,566 Other Operating Expenses ,539,927 2,892, ,067 Capital Outlay ,000 5,000 - Other Outgo , ,060 10,000 Indirect Cost to Cafeteria 7300 (245,600) (245,600) - Total Expenditures 29,382,149 29,965, ,929 4

5 FUND BALANCE COMPARISON TO ADOPTED BUDGET Description ADOPTED BUDGET BEGINNING FUND BALANCE 4,140,383 $ 4,140, as of Feb 2009 INCREASE (DECREASE) $ $ - CHANGE IN FUND BALANCE $ (102,492) $ (1,305,628) $ (1,203,136) ENDING FUND BALANCE $ 4,037,891 $ 2,834,755 $ (1,203,136) 5

6 Increases (Decreases) from Budget Adoption ADA in Budget Adoption was , which is based on ADA. Revenue Limit & Tax Revenue decrease $ (623,744) Federal Revenue $ 60,908 Other State Revenue $ (202,690) Local Revenue $ 121,557 TOTAL Increase in All Revenue $ (643,969) 6

7 Increase in CERTIFICATED SALARIES is $ 117,352 Decrease in CLASSIFIED SALARIES is $ (27,177) Decrease in EMPLOYEE BENEFITS is $ (34,879) Total Increase/(Decrease) $ 55,296 7

8 Teachers Salary $76,898 Pupil Support ($26,913) Supervisor & Administration $70,367 TOTAL CHANGES $ 117,352 8

9 Classified Salary Differences from Adopted Budget Decrease Instructional Aides ($ 26,545) (SDC & Resource Specialist) Increase in Support Salaries $ 106,713 Decrease Supervisors & Admin ($ 82,223) (CBO position) Decrease Clerical ($ 28,989) Increase in other Classified $ 3,867 TOTAL CHANGES ($27,177) 9

10 Books and Supplies $ 164,566 Services and Other Operating $ 353,067 Capital Outlay-Tech/Improvements$ -0- Other Outgo $ 10,000 TOTAL Increase in Operational Expenditures $ 527,633 10

11 Other Expense Differences from Adopted Budget Books and Supplies $ 90k Martinez Education Foundation $ 8k Other Books $ 11k Maintenance, Custodial & Grounds $ 48k Reimbursable Insurance Claims $ 7k General & Classroom Supplies $164K TOTAL INCREASE Services and Other Operation $ 250k Non-Public School Costs $ 22k Copiers $ 33k Professional Learning Communities $ 40k Utilities $ 8k Other $353k TOTAL INCREASE 11

12 Total Projected Revenue $28,676,825 Total Projected Expense $29,965,078 Net transfers (out) $ 17,375 Expense over Revenue Deficit Spending $(1,305,628) 12

13 Revolving Fund $ 10,742 Economic Uncertainties $ 905,586 Mandated Cost Reserve $ 457,397 MAA Reserves $ 102,088 Sprint/Metro AHS $ 50,858 Categorical $ 595,086 Designated (see next slide) $ 600,000 Other Restricted $ 86,595 Undesignated $ 26,403 TOTAL ENDING FUND BAL $2,834,755 13

14 Legal/Special Ed $150,000 Retiree Health Benefits $150,000 Lottery $150,000 Declining Enrollment $150,000 Reserves are expected to decrease in to offset decrease in state revenue. 14

15 MUTLI-YEAR PROJECTION SECOND INTERIM COLA- State 5.66% 5.02% 0.70% DEFICIT 7.839% % % FUNDED ADA /ENROLLMENT SALARY INCRnegotiating 3874 / / /3960 STEP/COL CERTIFICATED 1.2% 1.3% STEP/COL CLASSIFIED 1.1% 1.1% 15

16 SECOND INTERIM END OF GENERAL FUND INFORMATION 16

17 Adult Education Fund SECOND INTERIM Beginning Balance $ 723,985 Revenue $ 4,451,454 Expenditures $ 4,131,332 Net Incr (Decr) in Fund Balance $ 320,122 ENDING FUND BALANCE $1,044,107 17

18 CAFETERIA FUND SECOND INTERIM Beginning Balance $ (73,873) Revenue $ 1,020,091 Expenditures $ 1,020,028 Net Incr (Decr) in Fund Balance $ 63 ENDING FUND BALANCE $ ($73,810) Price per meal was increased by $0.25 in

19 Deferred Maintenance Fund SECOND INTERIM Beginning Balance $ 928,608 Revenue: Revenue- Interest $ 10,000 Transfer from General Fund $ 221,137 Expenditures: Salaries and Benefits $ 74,299 Other Expense $ 242,698 Net Incr (Decr) in Fund Balance $ ( 85,860) Ending Fund Balance $ 842,748 19

20 Postemployment Benefits Fund SECOND INTERIM Beginning Balance $ 615,477 Revenue: Revenue Interest $ 20,000 Ending Fund Balance $ 635,477 20

21 Building Fund SECOND INTERIM Beginning Balance $ 14,764 Revenue: $ 1,100 Revenue: Ending Fund Balance $ 15,864 21

22 Capital Facilities Fund SECOND INTERIM Beginning Balance $ 401,553 Revenue $ 220,000 Expense $ 377,685 Net Incr (Decr) in Fund Balance $ (157,685) Ending Fund Balance $ 243,868 22

23 Capital Outlay Projects Fund SECOND INTERIM Beginning Balance $7,671,156 Earned Interest $ 200,000 Capital Outlay $ 408,470 Other Expenses $ 36,010 Net Incr (Decr) in Fund Balance $ (244,480) Ending Fund Balance $7,426,676 23

24 Bond Interest & Redemption Fund SECOND INTERIM Beginning Balance $5,368,846 Ending Fund Balance $5,368,846 24

25 Scholarship Fund SECOND INTERIM Beginning Balance $ 132,257 Earned Interest $ 8,729 Awarded Scholarships $ 23,976 Net Incr (Decr) in Fund Balance $ (15,247) ENDING FUND BALANCE $ 117,011 25

26 SECOND INTERIM QUESTIONS??? 26