LUCIA MAR UNIFIED SCHOOL DISTRICT December 9, 2014 JAMES HOGEBOOM, Superintendent RAYNEE J. DALEY, Ed.D., Asst. Superintendent, Business/CBO RHONDA SEYBERT, Director of Finance
Developing the Snapshot Revenue LCFF One-time Expenditures Encroachments on General Fund Projected MYP 2
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Outstanding Mandated Costs back-payments. One time funding. Estimated at $650,000. CA Budget Development. Current positive economic outlook in California. Estimated $2 Billion additional dollars for schools. 4
Settlement was negotiated that prior year (FYs to ) Accounts Receivables would be paid at 40% of amount billed. $717,849 being written off for Lucia Mar Budget Adjustment – “budget income when received”, resulting in removing $271,071 from FY Total encroachment for FY due to these changes = $988,921 Evaluation of this program needs to be made as part of the “big rocks” process for FY
Funds driven by students that qualify for supplemental and concentration grant funding Proportional funds used to increase or improve services to these students As LCFF Revenue rises, LCAP Mandated Expenditures rise 6
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Both CalSTRS and CalPERS have increased employer contributions each year through FY Based on today’s salaries: CalSTRS increased cost will be $700,984 for and $1,428,895 for CalPERS increased cost will be $73,876 for FY and $291,804 for FY
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In FY , the District took back 9 classes from the COE The take-back plan for these classes included hiring LMUSD staff to support & improve the program In January 2014, the Board was given an estimated cost of $3,469,571 – we are currently within that estimate DRAFT BUDGET FY 2014/1511
Routine Restricted Maintenance returns to a 3% required contribution of all General Fund expenditures. This will increase our budget by $568,283 in FY and $608,456 in FY Incremental loss of E-Rate funding for telephonic and data plans starting in FY Loss of Revenue of $205,040 for FY and an additional loss of $131,170 in FY Mandated sick pay for substitutes starting in FY
13 Note: 0% = less than 1%
14 Note: 0% = less than 1%
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17 Current Budget is $382,483 Included in this is $268,163 for salaries & benefits for five Custodians Balance of budget, $114,320, used for various high priority projects across the District Approximately $26,495 is remaining for projects this year
*This was the Budget as of 10/31/14 – CCNTHS Phase III for $2.5 million was not yet budgeted.
POSITIVE – LMUSD will meet its financial obligations for FYs , , and District will meet its required 3% reserve in FYs , , and
January 9, Governor’s Budget to be Released January 27, Provide update to the Board at regular meeting January 2015 Begin work on Second Interim January/February 2015 – Begin Identifying “Big Rocks for Budget Development” 20