Presentation on theme: "Prepared by: Kevin Franklin & Pheno Taylor. Education Code (EC) Sections 42127(a) and 42127(a)(2) require the Governing Board of each school district."— Presentation transcript:
Education Code (EC) Sections 42127(a) and 42127(a)(2) require the Governing Board of each school district to adopt a budget on or before July 1 and file that budget with the county superintendent of schools.
Adoption – June 30 th 45 day Revise – Due 45 days after State budget adopted if significant changes from adoption 1 st Interim – As of Oct 31 st, due by Dec 15 th 2 nd Interim – As of Jan 31 st, due by Mar 15 th 3 rd Interim – As of Apr 30 th, due by June 30 th (qualified or negative certifications) Unaudited Actuals – As of June 30 th, due by Sept 15th
Full Revenue Limit Funding Reduced by the State of California 18.997% from Full-funding. We are being funded 81 Cents Of Every Dollar Owed In 2013-14. Federal Sequestration reductions for all programs (Title I, II, and III) are projected to be approximately 5%-5.5% Declining Enrollment which equals a loss of revenue (projected loss of 50 ADA) Uncertainty of Construction Liabilities: Penalties & Legal Costs (Jefferson ORG/Whelan Huerta) Depleted Reserve in June for the fiscal year 2015-16 Need For Fiscal Recovery Plan Directly Related To On-Going Shortfall & Deficit Spending
Revenues Based on Current Revenue Limit Funding Formula Deficit Reduction Factor of 22.272% COLA – Included 1.565% Staffing ratios maintained at current class sizes 2013-14 Employee Compensation Restore 3% reduction and restore 3 furlough days for certificated staff (5 furlough days) Classified staff – 8 furlough days EPA funding expected to be received in Sept, Dec, Mar, June
Projected Declining Enrollment & ADA 2014-15 Loss of Approx. 50 ADA 2015-16 Loss of Approx. 50 ADA QEIA Revenue included through 2015-16 Use of State Categorical Flexibility
Projected increase in health benefits Step and column increases Savings from employee concessions Capital Outlay Savings of $108K
Local Control Formula is not included in Budget Adoption report COLAs included for 2014 -15 (1.65%) and 2015-16 (2.20%) Deficit Factor included each year at 22.272%
This Budget adoption report does not call for a school district positive, qualified, or negative status report 2012-13 and 2013-14 Current Bargaining Units Agreements Included In Projections 2014-15 Agreement Expires: Employee Compensation Restored to 2009/10 Levels. No Furloughs, No Reductions In 2014-15 Charter School Fund has a projected Reserve balance of $3,277,674
District Negotiations Submit Adopted Budget by July 1, 2013 Await Governor’s Signature on Signed Budget Analyze LCFF and Associated Education Trailer Bills o It may take several months for final trailer bills and regulations to come out
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