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BOARD OF TRUSTEES: · Paul De La Cerda ∙ Rose Koscielny · Judy Egan Umeck · David Powell · Chris TrunkeySUPERINTENDENT: Joan M. Lucid, ED.D. RESPECT | INTEGRITY.

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Presentation on theme: "BOARD OF TRUSTEES: · Paul De La Cerda ∙ Rose Koscielny · Judy Egan Umeck · David Powell · Chris TrunkeySUPERINTENDENT: Joan M. Lucid, ED.D. RESPECT | INTEGRITY."— Presentation transcript:

1 BOARD OF TRUSTEES: · Paul De La Cerda ∙ Rose Koscielny · Judy Egan Umeck · David Powell · Chris TrunkeySUPERINTENDENT: Joan M. Lucid, ED.D. RESPECT | INTEGRITY | LEARNING | TEAMWORK | ENTHUSIASM SAUGUS Union School District Excellence in Elementary Education Avenue Stanford, Santa Clarita, California Phone: / FY First Interim as of October 31, 2014 Board Meeting December 9, 2014

2 E XCELLENCE IN E LEMENTARY E DUCATION Budget Calendar for FY : TimeTasks June, 2014Board adopted FY Budget July/AugustYear-End Closing (FY ) August45-day Budget Revision SeptemberUnaudited Actuals (FY ) submitted for approval OctoberFirst Interim cut-off (10/31/14) NovemberPreparation of First Interim December Submission of 1st Interim on or before 12/15/14; Release of Auditor’s Report for FY January Governor releases State Budget Proposal for FY ; Second Interim cut- off (1/31/15) FebruaryBudget Preparation based on Governor’s Budget Proposal MarchSubmission of 2 nd Interim on or before 3/15/15 AprilP-2 ADA cut-off MayRelease of Governor’s May Revise for FY JuneBudget Hearing & Budget adoption for FY

3 E XCELLENCE IN E LEMENTARY E DUCATION Introduction : ▪ Education Code requires districts to submit reports to the County Office of Education twice a year. This report refers as “Interim” report. 1st Interim Report for FY ( as of 10/31/14): Board Action on 12/09/14 2nd Interim Report for FY (as of 1/31/15): Board Action on 3/3/15 ▪ Education Code Section (a) (1) defines the certifications. A Positive Certification: WILL MEET their financial obligations for the current and two subsequent fiscal years A Qualified Certification: MAY NOT MEET their financial obligations for the current OR two subsequent fiscal years A Negative Certification: WILL BE UNABLE TO MEET their financial obligations for the current OR two subsequent fiscal years ▪ For districts filing a Qualified or Negative Certification, they must also submit two additional copies of all documentation to the County Office of Education to be forwarded to the California Department of Education (CDE) and the State Controller’s Office.

4 E XCELLENCE IN E LEMENTARY E DUCATION Local Control Funding Formula (LCFF) How does the LCFF apply to SUSD (FY )? ▪ Establishing a same Base Grant by grade span for all school districts (K-3: $7,011; 4-6: $7,116) ▪Additional K-3 (old CSR): 729/per ADA (As a result, K-3: $7,740) ▪Targeted supplemental funding (unduplicated of English learners, economically disadvantaged students & foster youth) based on fixed percentages of the base grant amounts (SUSD: about 27.63%) ▪Transportation & Targeted Instructional Improvement Grant (TIIG) ▪Determining LCFF target grants for ▪Closing the gap between funding levels and LCFF full implementation targets by 29.56% (True funding for ) Base Grant 68,530,045 Grade Span Adjustment (old K-3) 3,909,183 Supplement Grant 4,002,992 Transportation & TIIG (Add-on) 820,262 Total Target 77,262,482 Prior year 58,913,356 Difference (14/15 vs. 13/14) 18,349,126 Gap Funding: 29.56% 5,424,002 LCFF Funding 64,337,358* Prior Year Adjustment in the amount of -277,276. As a result, the LCFF is 64,060,082

5 E XCELLENCE IN E LEMENTARY E DUCATION Budget Assumptions : FactorFY FY FY Projected Enrollment9,9119,8429,809 Projected P-2 ADA9,6149,5479,515 Funded ADA9,7089,6149,547 EL/FRM/Foster Count (%)27.63%27.82%28.0% Gap Funding (%)29.56%20.68%25.48% LCFF64,060,08266,763,72369,680,400 Proportionality1,571,1382,089,4442,618,338 Lottery-Unrestricted$128 Lottery-Restricted$34 Class Size TK, K,1/2-3/4-6 26/28/3125/27/3124/26/31 G. Ed. FTEs/SDC. FTEs (Teaching Staff) 344/30 353/30 STRS Employer Rate8.88%10.73%12.58% PERS Employer Rate11.77%12.6%15.0%

6 General Fund Total Revenues:$79,090,082 (Unrestricted:$56,592,257; Restricted:$22,497,825) General Fund Unrestricted RestrictedTotal LCFF 64,060,082 - Federal - 3,445,598 State Revenue 2,188,120 7,508,570 9,696,690 Local Revenue 370,426 1,279,601 1,650,027 Transfer In 237,685 - Contribution (10,264,056) 10,264,056 - Total 56,592,257 22,497,825 79,090,082

7 General Fund Total Expenditures:$84,109,991 (Unrestricted:$58,930,503; Restricted:$25,179,488) Total Expenditures Unrestricted Restricted Total Certificated Sal 33,012,369 8,119,945 41,132,314 Calssified Sal 8,799,345 5,338,938 14,138,283 Employee Benefits 10,384,770 3,507,867 13,892,637 Books & Supplies 1,891,148 4,797,515 6,688,663 Srvc & Other Op. Exp 4,245,502 2,132,235 6,377,737 Capital Outlay 42,800 38,445 81,245 Other Outgo 149, ,117 1,148,916 Indirect Cost (245,426) 245,426 - Transfer Out 650,196 - Total Exp 58,930,503 25,179,488 84,109,991

8 E XCELLENCE IN E LEMENTARY E DUCATION Total Unrestricted General Fund Multi-Year Projections: FY FY FY LCFF*64,060,08266,763,72369,680,400 Other State Revenues2,188,1201,266,212 Other Local370,426372,946375,629 Other Financing Sources** 237,6851,067,685** (transfer in from Fund 17 to maintain 3% reserve 1,937,685**(transfer in from fund 17, & 14 to maintain 3% reserve) Contribution(10,264,056)(12,108,835)(12,943,063) Total Revenues56,592,25757,361,73160,316,863 Certificated Sal33,012,36933,419,28333,752,687 Classified Sal8,799,3458,931,3359,065,305 Employee Benefits10,384,77010,924,30811,839,350 Books & Supplies1,891,1481,239,227 Srvc & Other Op. Exp.4,245,5024,589,2884,393,093 Capital Outlet42,80027,800 Other Outgo554,569(89,074) Total Expenditures58,930,50359,042,16760,228,388 Net Increase (Decrease)(2,338,246)(1,680,436)88,475 Beginning Bal6,613,3374,275,0912,594,655 Projected Ending Bal4,275,0912,594,6552,683,130

9 FundBeg. BalRevExpProj. Ending Bal Sp. Ed. Pass Thru (10) 158,60528,156, ,605 Child Development Fund (12) 30,539445,929448,17428,294 Deferred Maintenance Fund (14) 2,133,0499,815788,0001,354,864 Sp. Rev-Other Than Capital Outlay (17) 1,668,019658,73212,0002,314,751 Building Fund (21) 2,256,14013,37791,9582,177,559 Capital Facility (25) 7,773,743580,15646,0008,307,899 County School Facility (35) 169, ,5450 Sp. Res-Capital (40) 20,828,61726,8282,178,42018,677,025 Capital Proj-Blended (49) 11,589,62036,758,25430,132,14018,215,734 Bond Interest & Redemption (51) 5,498,9375,903,2985,908,4255,493,810 Debt Srvc-Blended (52) 18,394,16710,120,6856,813,46921,701,383 Enterprise-CDP (63)* 5,931,8395,680,0655,141,0636,866,841 Other Funds *The Ending balance includes the value of Capital Assets.

10 E XCELLENCE IN E LEMENTARY E DUCATION Final Notes: ▪ Understanding our own characteristics of the budget (fiscal solvency issues) Solvency Plans for FY & FY ▪ Governor’s January Budget Proposal


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