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Board Study Session on Student Services Funding December 7, 2010.

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Presentation on theme: "Board Study Session on Student Services Funding December 7, 2010."— Presentation transcript:

1 Board Study Session on Student Services Funding December 7, 2010

2 Fiscal Year State addressing a $24 billion budget deficit $157 million in cuts to general apportionment $106 million local property tax shortfall $276 million in cuts to categorical programs $703 million in cash deferrals

3 Cuts to Selected Categoricals

4 DISTRICT BUDGET – FUND BALANCE Changes in Unrestricted Balances YearBeg BalanceRevenue & Trans.Expend. & Trans.Balance ,481,521114,266,043115,840,02613,907,538actual ,907,538120,640,551122,089,27112,458,818actual ,458,818116,707,385123,128,2006,038,003estimate 20116,038,003114,996,940114,675,5876,359,356budget During fiscal year the District deficit spent approximately $6.4 million. Of this amount, $3.5 million is attributed to deficit spending on employee benefits.

5 Benefit Budget Past practice was to use average benefit rates of: 34.34% for academic employees 41.72% for classified employees These rates were intended to cover all required employer statutory benefits as well as negotiated health and welfare benefits. In hindsight, practice did not adequately provide for sufficient budget to pay for 100% of employer benefits.

6 Benefit Budgets (continued) Beginning 7/01/10 benefits are budgeted by benefit cost and per position. For every employer paid benefit, a unique account code has been created and the annual cost budgeted for by program. Accounting Advisory – GASB 45 – Accounting for OPEB “OPEB costs for active eligible employees are a direct cost to programs and grants where employees are currently charged.”

7 Benefit Budgets (continued)

8

9 Study Session on Student Services Budgets Questions?


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