SANTA PAULA ELEMENTARY SCHOOL DISTRICT BUDGET UPDATE FEBRUARY 14, 2012

DEFICIT SPENDING IN Revenue 29,393,125 Expenditures 30,728,138 Net Change (1,335,013) Revenue28,090,873 Expenditures30,728,138 Net Change(2,637,265) Tax Initiative Passes Tax Initiative Fails o In expenditures exceed revenues. o The degree of deficit spending depends on whether the Governor’s proposed tax initiative passes or fails. o To match expenditures to revenues we need to reduce spending by $1.3 to $2.6 million.

BUDGET OPTIONS o Management/Confidential o Furlough day $12,600 o 1% salary & benefits $28,500 o Mileage Stipends $34,500 o Staffing Reductions o SPFT o Furlough day $71,400 o 1% salary & benefits $128,200 o Class Size/Staffing Reductions o CSEA o Furlough day $19,100 o 1% salary & benefits $44,000 o Staffing Reductions

Multi Year Projection – Two Scenarios: Effect of Expenditure Reductions on Budget Stabilization if Taxes Pass. 31A Taxes Pass Revenue 30,602,73929,393,12529,439,28229,366,570 Expenditures 32,090,09530,728,13831,014,98331,097,354 Ending Fund Balance 3,597,4552,262,442686,741(1,044,043) Cash/Economic Uncertainties (969,000)(925,160)(933,766)(936,232) Budget Stabilization ** 2,628,4551,337,282(247,025)(1,980,275) Revenue 29,040,55629,439,28229,366,570 Expenditures 29,931,62231,014,98331,097,354 Ending Fund Balance 2,706,3891,130,688(600,096) Cash/Economic Uncertainties (925,160)(933,766)(936,232) Budget Stabilization 1,781,229196,922(1,536,328) Revenue 29,040,55629,191,22629,118,514 Expenditures29,931,62230,218,46730,300,838 Ending Fund Balance 2,706,6891,679,148496,824 Cash/Economic Uncertainties (925,160)(933,766)(936,232) Budget Stabilization 1,781,229745,382(439,408) **Reduced by $51,337 from January 31, 2011 estimates based on SB 81 recently signed by the Governor. Trigger language previously included a $13/ADA cut to RL and a loss of 50% of transportation funding. Now the trigger cut is $53/ADA and NO loss of transportation funding. Scenario #1: Current Staffing/Furlough/Mileage Stipends in Only Scenario #2: Current Staffing/Furlough/Mileage Stipends Ongoing