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Each student will reach their fullest potential as we strive for district excellence through sound leadership, effective communication, accountability,

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Presentation on theme: "Each student will reach their fullest potential as we strive for district excellence through sound leadership, effective communication, accountability,"— Presentation transcript:

1 Each student will reach their fullest potential as we strive for district excellence through sound leadership, effective communication, accountability, and investment in our staff.

2  Executive Summary  Unaudited Actuals  Enrollment data  Revenue Limit assumptions  Tier III flexibility  ARRA funding  Ed Jobs funding  Reserves  Revenues, Expenditures and Changes in Fund Balance  General Fund  Cafeteria Account  Deferred Maintenance  Capital Facilities Fund  Capital Project Fund  Debt Service Fund  Gann Limit  Schedule of Long-Term Liabilities  Looking Ahead

3  Unaudited Actuals  Financial data reflecting district’s fiscal status at the end of the school year Revenues and expenditures for the entire year as reported by the district prior to the annual audit  Must be approved by the Governing Board by September 15  Submitted to the California Department of Education by local county office of education by October 15  Independent auditors validate the numbers and present audit report to Board in December

4 Forms in report:  Revenue, expenditures, and fund balances for the following funds: FORM 01 – General Fund FORM 13 – Cafeteria Fund FORM 14 – Deferred Maintenance FORM 25 – Capital Facilities Fund FORM 52 – Debt Service Fund  Form A – Average Daily Attendance (ADA) for P2, Annual and Revenue Limit calculations  Form CA – Summary of data and district certification  Form CAT – Revenues and expenditures for categorical programs  Form CEA – Current Expense Formula/Minimum Classroom Compensation

5 Forms in report (cont):  Form DEBT – Schedule of Long-Term Liabilities  Form GANN – Calculates appropriations subject to GANN Limit  Form ICR – Calculates a proposed indirect costs rate for federal and state programs for  Form L – Report of annual lottery fund expenditures  Form NCMOE – Calculation to ensure we are using funds to provide services in addition to regular services (NCLB requirements)  Forms PCR and PCRAF – automatically calculate total program costs in Fund 01 in a standardized manner.  Form RL – Revenue Limit Calculation  Form SIAA – Summary of Interfund Activities (transfers between funds)  Form TRAN – Summary of Home-To-School Transportation

6  Enrollment – California Basic Educational Data System (CBEDS)  K-8: 1027 (1.8% decline from prior year)  Average Daily Attendance (ADA) – Principal Apportionment (P2)  (2.67% decline from prior year)

7 Unaudited Actuals Unaudited Actuals Unaudited Actuals Unaudited Actuals Unaudited Actuals BUDGET Statutory COLA 5.92%4.53%5.66%4.25%(0.39%)2.24% Base RL $5,791.36$6,032.36$6,347.36$6,597.36$6,573.36$6, Deficit Factor 7.844% % % % Funded RL $5,791.36$6,032.36$5,849.47$5,386.41$5,392.59$5, Other RL Adjustments (3.85%) ($252.99) per ADA P2 ADA (District K:8) ADA used for RL (incl county Sp Ed ADA)

8 Revenue Limit Funding

9  Education Code Section allows complete flexibility in the use of funds appropriated in the state budget for fiscal years through for numerous programs and can be used for any educational purpose.  Categorical programs subject to Tier III flexibility Administrative Training - $8,713 Art & Music Block Grant - $15,133 CAHSEE - $800 California Peer Assistance & Review - $5,150 Community Based English Tutoring - $4,479 Gifted and Talented Education - $73,645 Instructional Material Realignment Program - $56,976 Math & Reading Professional Development - $6,014 Math & Reading Professional Development EL - $3,007 Professional Development Grant - $11,601 School Library Improvement Grant - $10,440 School Safety - $7,992 Supplemental Hourly Programs - $24,287 Targeted Instructional Improvement - $4,434  Deferred Maintenance State Apportionment Apportionment of $33,581 subject to Tier III flexibility until Transferred to Routine Restricted Maintenance.  Routine Restricted Maintenance – flexibility to decrease contribution from three percent to one percent (approximately $30K savings).

10  American Recovery and Reinvestment Act (ARRA)  State Fiscal Stabilization Funding (SFSF) – intended to offset reductions to state general purpose and categorical funding and was revised on July 22, 2011: State general purpose funding: K:8 - $359,065 (original $293,424) Charter - $4,708 (original $3,396) Categorical funding: $44,420 (original $50,715) Entire entitlement $424,107 ($347,535 received in school year and balance in ) Funded certificated teacher salaries  $211,545  $212,562  Special Education funding $163, school year used $81,846 for para salaries Balance ($83,188) used in for para salaries

11  Entitlement $222,813  Can be used for site expenditures only  Expenditures - $79,270  Funding was used for the following:  Restore three day furloughs for site staff  Two part-time PE teachers - Rio and Cobblestone  Literacy Coach – shared by three sites  Part-time Library Clerk  Part-time Office Clerk at Rio

12  Economic Uncertainty – Five percent  Minimum Classroom Compensation - Funding set aside to close deficiency  Certificates of Participation (COP) Obligation of General Fund if insufficient funds available in Fund 25 for debt service payment Reserve for COP debt service payment  Reserve for Charter ADA issue (pending appeal)  Reserve for Wheatland MOU  Reserve for possible mid-year cuts

13 Revenue Source Estimated Actuals Total Restricted and Unrestricted Unaudited Actuals Total Restricted and UnrestrictedVariance Revenue Limit Sources $6,025,098 $5,995,687(0.49%) Federal Sources $327,728 $325,841(0.58%) State Sources $941,385 $971,4283.2% Lottery, Tier III programs Other Local Revenue $584,936 $595,4321.8% Rec’d one-time $ from YCOE; Worker’s Comp Adj, Nextel E- Rate Interfund Transfers In $25,800 $20,734(19.6%) CFD Admin Costs – transfer from Fund 52 Total Revenue $7,904,497 $7,909, %

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15 Object Code Estimated Actuals Total Restricted and Unrestricted Unaudited Actuals Total Restricted and Unrestricted Variance 1000-Certificated Salaries $3,217,857 $ 3,202, %Vacant teacher positions 2000-Classified Salaries $1,151,333 $ 1,131, % Vacant custodial position and para sub time and facilities extra time 3000-Benefits $1,521,191 $ 1,485, % Statutory benefits associated with above salaries plus HDV and Unemp savings 4000-Materials and Supplies $474,468 $ 453, %Site savings - $10K; FMOT - $8K 5000-Services & Operating Expenditures $1,166,962 $ 1,067, % Savings in Sp Ed, CFD Admin contracted services, operations and communications 6000-Capital Outlay 0 0 0% 7000-Other Outgo, Transfers of Indirect/Direct Support Costs $ 215,140 $ 201, %Savings in Sp Ed Excess Program Costs Total Expenditures $ 7,746,951 $ 7,540, % Net Increase (Decrease) in Fund balance $ 157,546 $ 368,139 Beginning Fund Balance $ 2,599,040 Ending Fund Balance $ 2,756,586 $ 2,967,179

16 Revenue Source Routine Restricted Maintenance Special EdTransportation Special Ed SD/OI Transportation State and Federal Aid $458,164$25,440$23,450 Fees $13,310 Total Revenue 0$458,164$25,440$36,760 Total Expenditures $195,248$1,008,434$66,876$92,697 Contributions from unrestricted resources $195,248$550,270$41,436$55,937

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18  Education Code, Section requires elementary school districts to expend at least 60 percent of their current cost of education for classroom teachers and aides, plus associated benefits.  District is 2.13% below the minimum  Deficiency amount is $141,  Options available to the District  Request waiver from county office of education  Set aside funding to correct deficiency

19 Revenues$7,909,122 Expenditures$7,540,982 Net Increase/Decrease$ 368,140 Ending Fund Balance$2,967,179 Reserved for Economic Uncertainty$ 376,012 Revolving Cash and Prepaids$ 11,873 COP Debt Service Payment$ 475,475 Charter ADA$ 186,511 Revenue Limit Reductions$ 328,198 Wheatland High Agreement$ 295,000 Minimum Classroom Compensation Deficiency$ 141,539 Lottery Unrestricted$ 126,523 Restricted Programs (EIA, RMA, Lottery Prop 20 )$ 21,426 Available for Budget Shortfalls$1,004,622

20 Category Estimated Actuals Unaudited Actuals Variance Revenue Federal Revenue$ 254,000$ 245,685(3.3%)Less participation in lunch program State Revenue$ 20,000$ 21, % Local Revenue$ 150,500$ 142,562(5.27%) Total Revenue$ 424,500$ 409,840(3.45%) Expenditures Classified Salaries$ 142,549 BA $519 $ 143, % Benefits$ 52,087 BA ($519) $ 51, % Materials and supplies$ 201,562$ 201, % Services and operating expenses$ 6,713 BA $151 $ 5, %$840 savings in all categories Transfer of Indirect/Direct Support Costs $ 17,890$ 17, %Based on actual expenses Interfund Transfer In$ 0 Total Expenditures$ 420,801$ 419, % Net Increase/(Decrease) in Fund balance$ 3,699($ 9,356) Beginning Fund Balance$ 25,926 Ending Fund Balance$ 29,625$ 16,570

21 Category Estimated Actuals Unaudited Actuals Variance Revenue Other State Revenue$ 0 Local Revenue$ 2,030$ 1,708(15.7%)Interest earnings Total Revenue$ 2,030$ 1,708 Expenditures Materials and supplies$ 15,376 0 Services and operating expenses$ 14,624$ 0(100%)$ budgeted for emergencies Total Expenditures $ 30,000$ 15,376(48.7%) Excess (deficiency) of Revenues over expenditures before other financing sources and uses $ (27,970)$ (13,668) Other financing Sources/Uses0$ 0 Net Increase (decrease) in Fund Balance$ (27,970)$ (13,668) Beginning Fund Balance$112,374 Ending Fund Balance$ 84,404$ 98,705

22 Category Estimated Actuals Unaudited Actuals Revenue Local Revenue$ 227,370 BA - $8,930 $ 235,159 Total Revenue$ 227,370$ 235,159 Expenditures Materials and supplies$ Services and operating expenses$ 61,400 BA - $20,977 $ 82,377 Capital Outlay$ 13,500 BA – ($13,500) $ Other outgo (debt service principal and interest)$ 476,065 Excess (deficiency) of Revenues over expenditures before other financing sources and uses $ (323,595)$ (323,283) Interfund Transfers In$ 121,865$ 115,000 Net Increase (decrease) in Fund Balance$ (201,730)$ (208,283) Beginning Fund Balance$ 759,224 Ending Fund Balance$ 557,494$ 550,942 Cash with fiscal agent$ 477,223

23 Category Estimated Actuals Unaudited Actuals Revenue Local Revenue$ 668,021$ 681,603 Total Revenue$ 668,021$ 681,603 Expenditures Other outgo (debt service principal and interest)$ 525,089 BA - $40 $ 525,129 Excess (Deficiency) of Revenues over expenditures before other financing sources and uses $ 142,932$ 156,475 Other financing sources/uses$ 147,665$ 135,734 Net Increase (decrease) in fund balance($ 4,733)$ 20,741 Beginning Fund Balance$1,205,080 Ending Fund Balance$1,200,347$1,225,821 Cash with fiscal agent$ 465,907

24 Unaudited balance July 1, 2010 Audit Adj Audited Balance July 1, 2010IncreasesDecreases Ending Balance June 30, 2011 Amounts Due Within One Year Certificates of Participation Payable $ 6,820,000 $ 130,000 $ 6,690,000 $ 475,475 Other General Long-Term Debt – CFD #1 and CFD #2 $ 8,310,000 $ 120,000 $ 8,190,000 $ 520,088 Governmental activities long-term liabilities $ 15,130,000 $ 250,000 $ 14,880,000 $ 995,563

25 Approve Resolution – Resolution for Adopting the Gann Limit for  State Constitution requires school agencies to perform Gann Limit calculations  Education Code sections 1629 and specify that governing boards of districts shall adopt a resolution to identify their estimated appropriations limits for the current year and their actual appropriations limit for the preceding year  Calculation is included in the Unaudited Actuals and data is extracted from the General Ledger – Uses two factors to yield the change in our Gann Limit – Statewide factor for per capital personal income change and P2 ADA  Calculations identify how much state aid counts toward our Gann Limit so the State of California knows how much state aid counts toward their Gann Limit  Appropriations subject to limit - $6,440,518  Estimated appropriations subject to limit - $6,883,272

26  State passed budget in July  District adopted budget prior to July 1  State assumptions (COLA, deficit factor) did not change  Other assumptions that may require budget revisions at First Interim Salary adjustments for any negotiated and ratified bargaining unit contracts ADA – currently budgeted at P2 data Add any categorical carryovers  Still weak outlook for economy/possible mid-year cuts?  Cash deferrals continue  Enrollment as of 9/12/ : Cobblestone: 286 Rio: 471 Riverside: 315  CBEDS last October – 1027  First day of school, August 2011 – 1063  Education Jobs Fund – no funding after this year  First Interim decisions  What ADA numbers do we use for Revenue Limit calculations?  Do we want to set aside monies for salaries funded with Education Jobs Fund?  Do we want to set aside funds in reserves for salary increases?  Fund 25 – Will we receive sufficient developer impact fees to cover COP debt service payment? KB Homes has pulled three permits this year.

27 QUESTIONS?


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