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Mt. Diablo Unified School District First Interim Report 2004-05.

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Presentation on theme: "Mt. Diablo Unified School District First Interim Report 2004-05."— Presentation transcript:

1 Mt. Diablo Unified School District First Interim Report

2 REVENUE Total Revenue 246,961,079249,666,571253,357,679 EXPENDITURES Total Expenditures 258,530,977250,318,307254,129,344 Revenue/Expenditure Difference (11,569,898)* (651,736) (771,665) *Actual revenue/expenditure difference is ($3,049,233) after excluding one-time expenditures funded by beginning balance Beginning Balance$ 19,190,623$ 7,620,725$ 6,968,990 Mt. Diablo Unified School District Multi-Year Revenue/Expenditure Budget Projections First Interim Report

3 Revenue/Expenditure Difference(11,569,898) (651,736) (771,665) Ending Balance 7,620,725 6,968,990 6,197,325 Reserved for revolving cash/stores 1,050,000 1,050,000 1,050,000 Reserved for economic uncertainties (2%) 5,170,620 5,170,620 5,170,620 Designated lottery funds (with cap at $105) 199, , ,142 Designated one-time money Unrestricted/Undesignated Ending Balance 1,200,893* 359,943 (591,437) Mt. Diablo Unified School District Multi-Year Revenue/Expenditure Budget Projections First Interim Report *reduced by approximately $2.8 million to reflect the carryover of school site, department, and other budgets from fiscal year

4 Mt. Diablo Unified School District First Interim Report

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7 Why? Three factors...

8 Mt. Diablo Unified School District First Interim Report 1) Deficit spending of $3,049,233 in the current fiscal year

9 Mt. Diablo Unified School District First Interim Report 2) Declining Student Attendance 309 fewer students equals $1,485,672* in lost revenue *Based on fiscal year revenue which was funded at $4,808 per student attendance (ADA).

10 Mt. Diablo Unified School District First Interim Report

11 3) States challenge is to correct deficit spending; otherwise, the districts revenue will continue to be underfunded

12 Mt. Diablo Unified School District First Interim Report As noted in a November 17, 2004 article by the states Legislative Analyst, Elizabeth Hill: [the state] still has a lot of hard work to do [to reduce its spending and/or raise taxes]...we really havent addressed this large structural imbalance [of deficit spending].

13 A full copy of the detailed First Interim Report is available upon request

14 or visit our web site:

15 Mt. Diablo Unified School District First Interim Report


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