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FY07/08 2 nd Interim March 11, 2008. Changes from 1 st Interim to Projected Year Totals UnrestrictedRestrictedCombined Revenues 1 st Interim New/Revised.

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Presentation on theme: "FY07/08 2 nd Interim March 11, 2008. Changes from 1 st Interim to Projected Year Totals UnrestrictedRestrictedCombined Revenues 1 st Interim New/Revised."— Presentation transcript:

1 FY07/08 2 nd Interim March 11, 2008

2 Changes from 1 st Interim to Projected Year Totals UnrestrictedRestrictedCombined Revenues 1 st Interim New/Revised One Time FY07/08 Projected Year Totals 62,054, , ,469 62,681,596 21,701, , ,210 22,601,435 83,755,624 1,183, ,679 85,283,031 Expenditures 1 st Interim Negotiated Compensation Increases Special Education New/Revised One Time Net Adjustments FY07/08 Projected Year Totals 51,838, , ,985 49,992 52,695,968 34,206, , , , , ,703,988 86,045, , , , ,195 49,992 88,399,956

3 Changes from 1 st Interim to Projected Year Totals UnrestrictedRestrictedCombined Other Sources/(Uses) 1 st Interim Net Adjustments FY06/07 Projected Year Totals (7,349,681) (597,625) (7,947,306) 6,913, ,625 7,511,400 (435,906) - (435,906) Net Increase (Decrease) in Fund Balance Beginning Balance Ending Balance 2,038,322 2,074,863 4,113,185 (5,591,153) 5,591,153 - (3,552,831) 7,666,016 4,113,185

4 Components of Fund Balance UnrestrictedRestrictedCombined Ending Fund Balance Revolving Cash Legally Restricted For Economic Uncertainties Other Designation: Mandate Set Aside Other Designation: P2 ADA Available Unrestricted Reserve 4,113,185 50, ,665,076 1,080, ,358 (140,249) ,113,185 50, ,665,076 1,080, ,358 (140,249)

5 Multi-Year Projections Major Assumptions Categories Enrollment and ADA District Enrollment (CBEDS)9,9129,9549,7999,717 District ADA – Projected9,5169,5859,3909,333 District ADA – Funded9,5169,585 9,390 Revenue Revenue Limit COLA5.92%4.53%4.94%3.00% Revenue Limit Deficits0% 6.99% Equalization Aid Per ADA$ Base Revenue Limit$5,525$5,777$5,641$5,824 Federal COLA0% Other State COLA5.92%4.53%(6.5%)3.00% Mandate Reimbursement$1.33M---

6 Multi-Year Projections Major Assumptions Categories Expenditures Step and Column Salary Increases$0.83M FY05/06 Negotiated Salary Increase (4.7%)$5.1M$2.5M FY07/08 Negotiated Salary Increase (2.0%)-$0.8M$1.1M FY08/09 Negotiated Salary Increase (4.0%)--$1.9M$2.2M Special Education Encroachment$4.8M$5.7M$6.5M$7.0M Growth in Special Education Encroachment$1.2M$0.9M$0.8M$0.50M Inflationary Increase - CPI3.4%3.2%2.7%2.5% Indirect Cost Rate2.93%2.84%3.22% Spending Reductions and Reallocations$0.8M$1.4M$1.5M$2.5M Fund Balance Mandate Reimbursement Set Aside-1.08M--

7 Multi-Year Projections Categories REVENUES Revenue Limit Sources53,841,71956,083,43854,776,53155,361,711 Federal Revenues5,234,6775,593,1315,588,427 Other State Revenues15,525,25613,989,84713,208,76913,561,247 Other Local Income9,967,2709,616,6159,165,089 Total Revenues84,568,92185,283,03182,738,81683,676,474 EXPENDITURES Salaries & Benefits66,452,04467,713,70469,799,57370,641,135 Books/Supplies & Outlay2,612,8907,512,1802,164,4042,069,522 Services & Operating Expenses9,384,99111,656,85610,630,39011,376,150 Other Outgo & Transfers2,251,7601,517,216 Total Expenditures80,701,68588,399,95684,111,58385,604,022 Other Sources (Uses)(579,249)(435,906)(325,906) Net Inc/Dec in Fund Balance3,287,987(3,552,831)(1,698,673)(2,253,454) BEGINNING BALANCE4,378,0287,666,0164,113,1852,414,511 ENDING BALANCE7,666,0164,113,1852,414,511161,057

8 Components of Fund Balance FY06/07 Actuals FY07/08 Projection FY08/09 Projection FY09/10 Projection Ending Fund Balance 7,666,0164,113,1852,414,511161,057 Revolving Cash50,000 For Economic Uncertainties2,438,4282,665,0762,536,4252,505,667 Legally Restricted Balance5,591, For Other Designations Mandate Cost Reimbursement-1,080,000-- P2 ADA-458,358-- Spending Reductions---(2,517,700) Available Unrestricted Reserve(413,565)(140,249)(171,913)123,090

9 Unrestricted Revenue

10 Unrestricted Expenditures

11 Unrestricted Non-Personnel Expenditures

12 Outstanding Issues that Could Impact the Budget State Budget P2 Average Daily Attendance (ADA) Special Education


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