Prepared by: Kevin Franklin & Pheno Taylor
Education Code (EC) Sections 42127(a) and 42127(a)(2) require the Governing Board of each school district to adopt a budget on or before July 1 and file that budget with the county superintendent of schools.
Adoption – June 30 th 45 day Revise – Due 45 days after State budget adopted if significant changes from adoption 1 st Interim – As of Oct 31 st, due by Dec 15 th 2 nd Interim – As of Jan 31 st, due by Mar 15 th 3 rd Interim – As of Apr 30 th, due by June 30 th (qualified or negative certifications) Unaudited Actuals – As of June 30 th, due by Sept 15th
Full Revenue Limit Funding Reduced by the State of California % from Full-funding. We are being funded 81 Cents Of Every Dollar Owed In Federal Sequestration reductions for all programs (Title I, II, and III) are projected to be approximately 5%-5.5% Declining Enrollment which equals a loss of revenue (projected loss of 50 ADA) Uncertainty of Construction Liabilities: Penalties & Legal Costs (Jefferson ORG/Whelan Huerta) Depleted Reserve in June for the fiscal year Need For Fiscal Recovery Plan Directly Related To On-Going Shortfall & Deficit Spending
Revenues Based on Current Revenue Limit Funding Formula Deficit Reduction Factor of % COLA – Included 1.565% Staffing ratios maintained at current class sizes Employee Compensation Restore 3% reduction and restore 3 furlough days for certificated staff (5 furlough days) Classified staff – 8 furlough days EPA funding expected to be received in Sept, Dec, Mar, June
Projected Declining Enrollment & ADA Loss of Approx. 50 ADA Loss of Approx. 50 ADA QEIA Revenue included through Use of State Categorical Flexibility
Projected increase in health benefits Step and column increases Savings from employee concessions Capital Outlay Savings of $108K
Local Control Formula is not included in Budget Adoption report COLAs included for (1.65%) and (2.20%) Deficit Factor included each year at %
This Budget adoption report does not call for a school district positive, qualified, or negative status report and Current Bargaining Units Agreements Included In Projections Agreement Expires: Employee Compensation Restored to 2009/10 Levels. No Furloughs, No Reductions In Charter School Fund has a projected Reserve balance of $3,277,674
2013/142014/152015/16 Revenue$ 26,104,083$ 25,653,432$ 26,939,944 Expenditures$ 29,097,658$ 29,171,956$ 29,188,340 Surplus/ (Deficit)$ (2,993,575)$ (3,518,524)$ (2,248,396) Beginning Balance$ 10,205,813$ 7,212,238$ 3,693,714 Ending Balance$ 7,212,238$ 3,693,714$ 1,445,317 Reserve for Economic Uncertainties $ 1,422,789$ 1,434,106$ 1,437,218 Additional Available Reserves $ 5,789,449$ 2,259,608$ 8,099 Available Percentage 15.21%7.73%3.02%
2012/132013/142014/15 Grade KOption 2, Fully Implemented, 100% Funding Grades 1-3Option 1, Fully Implemented, 100% Funding Option 1, Fully Implemented, 100% Funding. Some Reduction Due to Sunset of Legislation 6/30/14 QEIA Grades 4-8Fully Implemented Felton, Jefferson, Moffett, LMS Grades 4-529:1 Buford & Huerta 29:1 Buford & Huerta 29:1 Buford & Huerta
District Negotiations Submit Adopted Budget by July 1, 2013 Await Governor’s Signature on Signed Budget Analyze LCFF and Associated Education Trailer Bills o It may take several months for final trailer bills and regulations to come out
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