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FY 06/07 3 rd Interim May 22, 2007. Changes from 2nd Interim to 3rd Interim UnrestrictedRestrictedCombined Revenues 2nd Interim New Revisions/Amendments.

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Presentation on theme: "FY 06/07 3 rd Interim May 22, 2007. Changes from 2nd Interim to 3rd Interim UnrestrictedRestrictedCombined Revenues 2nd Interim New Revisions/Amendments."— Presentation transcript:

1 FY 06/07 3 rd Interim May 22, 2007

2 Changes from 2nd Interim to 3rd Interim UnrestrictedRestrictedCombined Revenues 2nd Interim New Revisions/Amendments 3 nd Interim Projected Year Totals 61,463, ,537 61,586,522 21,717, , ,668 22,954,401 83,181, , ,205 84,540,923 Expenditures 2nd Interim New Revisions/Amendments Net Adjustments 3 nd Interim Projected Year Totals 54,991, ,353 55,250,003 29,623, , , ,416 31,347,193 84,615, , , ,769 86,597,195

3 Changes from 2 nd Interim to 3 rd Interim Year Totals UnrestrictedRestrictedCombined Other Sources/(Uses) 2 nd Interim Budget Revisions 3 nd Interim Projected Year Totals (6,216,002) (486,415) (6,702,417) 6,062, ,415 6,548,521 (153,896) 0 (153,896) Net Increase (Decrease) in Fund Balance Beginning Balance Ending Balance (365,898) 2,533,757 2,167,859 (1,844,271) 1,844,271 - (2,210,169) 4,378,028 2,167,859

4 Components of Fund Balance UnrestrictedRestrictedCombined Ending Fund Balance Revolving Cash For Economic Uncertainties Available Unrestricted Reserve 2,167,859 50,000 2,615,293 (497,434) ,167,859 50,000 2,615,293 (497,434)

5 Multi-Year Projections Major Assumptions Categories Enrollment and ADA District Enrollment (CBEDS)9,9129,7799,575 District ADA – Projected9,4859,3469,114 District ADA – Funded9,4859,4859,346 Revenue Revenue Limit COLA5.92%4.53%3.70% Revenue Limit Deficits0% Equalization Aid Per ADA$86.56$0 Base Revenue Limit$5,525$5,777$5,992 Net Change in Revenue Limit$2.5M$2.4M$1.2M Net Percent Change in Revenue Limit4.9%4.4%2.1% Federal COLA0% Other State COLA5.92%4.53%3.70% Mandate Reimbursement$1.56M--

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 Growth in Special Education Encroachment$1.43M$0.35M$0.5M Inflationary Increase - CPI3.4%2.9%2.5% Indirect Cost Rate2.93% Spending Reductions and Reallocations$0.8M$1.4M- Fund Balance Mandate Reimbursement Set Aside-1.08M

7 Multi-Year Projections Categories REVENUES Revenue Limit Sources53,812,21656,204,62157,384,325 Federal Revenues6,265,6356,175,335 Other State Revenues14,954,75813,009,57113,440,101 Other Local Income9,508,3149,341,317 Total Revenues84,540,92384,730,84486,341,077 EXPENDITURES Salaries & Benefits68,101,49866,016,35466,749,667 Books/Supplies & Outlay5,408,2133,766,1673,859,508 Services & Operating Expenses11,143,56810,345,50610,956,770 Other Outgo & Transfers1,943,916 Total Expenditures86,597,19582,071,94383,509,861 Other Sources (Uses)(153,896)(514,249) Net Inc/Dec in Fund Balance(2,210,169)2,144,6522,316,967 BEGINNING BALANCE4,378,0282,167,8594,312,511 ENDING BALANCE2,167,8594,312,5116,629,478

8 Components of Fund Balance FY06/07 Projection FY07/08 Projection FY08/09 Projection Ending Fund Balance Revolving Cash For Economic Uncertainties For Other Designations Available Unrestricted Reserve 2,167,859 50,000 2,615,293 - (497,434) 4,312,511 50,000 2,479,536 1,080, ,975 6,629,478 50,000 2,522,673 1,080,000 2,976,805

9 Outstanding Issues that Could Impact the Budget Negotiations P2 Average Daily Attendance –Audit Finding Budget Act for FY07/08 –Equalization Aid


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