1. Golden Valley Unified School District
1st Interim Report
December 3, 2013

2. Revenue Changes

3. Funding Formula Changes
Revenue Limit
Base funding = different for every district
Adjusted by COLA (when funded)
Various add-ons: beginning teacher salaries, needy meals, PERS reduction, unemployment insurance reimbursement
Over 60 additional categorical programs
Tier III
Restricted

4. Funding Formula Changes
Local Control Funding Formula
Base formula = uniform for all districts
Add-ons: Class Size Reduction ($723), Career- Technical Education ($219)
Supplemental funding for economically disadvantaged (20% boost to base funding)
Concentration grants for districts with high supplemental (additional 50% boost base funding)

5. Source: Legislative Analyst Office, An Overview of the Local Control Funding Formula, June 29, 2013

6. LCFF and GVUSD
Factors
K-3
4-6
7-8
9-12
Base grants – (with COLA)
$6,952
$7,056
$7,266
$8,419
CSR/CTE adjustment
$723 –
$219
20% Supplemental
$1,535
$1,411
$1,453
$1,728
Total LCFF per non-classified ADA
$7,675
$8,638
Total LCFF per EL/LI ADA*
$9,210
$8,467
$8,719
$10,266
Difference between funding
$1,628
*Information obtained from the Free and Reduced Lunch Application.

7. Other LCFF Considerations
LCFF will be phased in over 8 years through 2020/2021
2013/2014 funding = 12/13 funding % of RL/LCFF gap
2014/2015 funding = 13/14 funding % of RL/LCFF gap
2015/2016 funding = 14/15 funding % of RL/LCFF gap
After 2015/2016….?????
Includes an Economic Recovery Target (ERT) grant providing pre-recession funding to districts receiving less LCFF funding than under undefecited RL
Funded with equal growth over 8 years
Year 1 = 1/8 ERT
Year 2 = 2/8 ERT
Year 3 = 3/8 ERT, etc.

8. State Revenue Changes Other state aid includes: Lottery
Budget ADA = vs. First Interim =
Difference of 18.45
Budget Under Revenue Limit – First Interim Under LCFF
19 categoricals folded into LCFF calculation
Other state aid includes:
Lottery
Specialized Secondary Programs
Mandated Costs Block Grant (new since budget adoption)
Common Core Implementation Grant

9. Other State Aid Budget 1st Interim Principal Apportionment $12,077,246
$13,694,360
Other State Aid*
$2,578,239*
$852,446*
Total State Funding
$14,655,485
$14,546,806
* 19 Categorical programs are eliminated from State Aid and folded into the Principal Apportionment
Difference in ADA (18.45) = $141,304
Most significant growth in LCFF is to the later years of implementation

10. Other State Aid Changes
Mandate block grant
Guaranteed revenues in 2013/2014 = about $70,000
Common Core Implementation Funds
Estimated at $374,374 at Budget = $393,400 at First Interim

11. Federal Revenue Federal:
Medi-Cal revenues removed at first interim due to continued uncertainty - $85,000
Slight increase for Carl Perkins Grant

12. Local Revenue Local: Pep Grant Revenue – 12/13 4th quarter - $6,202
EDEP after school program revenues – from $70,000 to $148,695
Donations of $4,953 (not budgeted until received)
Slight increase for Agriculture Tech Grant

13. Expense Changes

14. Certificated Salaries
Budget for 5 new teachers and 0.66 growth
Hired 2 new kindergarten teachers
0.66 FTE growth for a 1 FTE math teacher
0.37 reading lab teacher at RMS
0.50 teacher at Ed Ops
Net savings = $86,450
Restructuring of administration
3% bonus to all certificated staff

15. Classified Salaries 3% one-time bonus included in interim
Restructuring of technology department
2 new technology positions
Early retirement agreement
4 new classified part-time EDEP positions due to increase program enrollment and revenues (fee-based)

16. Benefits
State Unemployment Insurance contributions were reduced to .05% from 1.1% ($75,000 reduction)
Benefit increase for 3% one-time salary bonus
Increases for new staff

17. Supplies and Operating Expenses
Added textbook budget for increased student need and replacements
One-to-one tablet purchase was carried over from /2013
Increased Title I expenses for Program Improvement requirements
Increased Special Education services for student settlement agreements
Hawks On Tablets!

18. Summary of Changes Budget 1st Interim Difference Classified $7,188,611
$7,288,108
$99,497
Certificated
$2,605,677
$2,775,946
$170,269
Benefits
$3,417,261
$3,404,238
($13,023)
Books/Supplies
$1,090,567
$1,112,893
$22,326
Services/Operations
$1,426,749
$1,434,308
$7,559
Total Expenses
$15,728,866
$16,015,492
$286,626

19. Inter Fund Contributions

20. Deferred Maintenance
Under LCFF deferred maintenance is now a contribution and not a revenue.
Painting = $20,000
Building Fund contribution = $51,323
VOIP failure = $50,000
Well pump failure = TBD
***Carryover of Deferred Maintenance = $69,096
Contribution Amount
Categorical Revenue
$69,881
General Fund Contribution
$12,401
Total Contribution
$82,282

21. Ending Balance

22. Budget Vs. First Interim
2013/2014 Budget Projections
Budget
1st Interim
Difference
Beginning Balance
$2,752,758
$3,020,781
$268,023
Revenues
$15,635,206
$15,555,400
($79,806)
Expenses
($16,281,859)
($16,604,264)
$322,405
Surplus (Deficit)
($646,653)
($1,048,864)
($402,211)
Ending Balance*
$2,099,647
$1,962,773
($136,874)
Economic Reserve
12.90%
11.82%
(1.08%)
*Excludes restricted revenues from calculation

23. MYP Economic Reserve Budget 1st Interim 2013/2014 12.90% 11.82%
2014/2015
9.19%
9.37%
2015/2016
6.18%
9.18%

24. Multi-Year Projection

25. Revenue Assumptions
Most significant impact of LCFF is to the latter years of implementation
2014/2015
Increase for LCFF annual growth target - ($618,482)
Elimination of one-time Common Core Grant - ($393,400)
Reduction to local revenues for current year donations - ($2,453)
2015/2016
Increase for LCFF annual growth target - ($667,249)

26. Expense Assumptions 2014/15 2015/2016
Reduction of 3% bonus - ($320,130)
Included 2.4% Step in Column - ($302,094)
Elimination of one-time Common Core expenses - ($393,400)
Removal of 5 classified furlough days - ($62,512.08)
Expiration of 2 textbook adoption payments - ($112,175)
Elimination of one-time funds for MOT truck purchase - ($6,500)
Increase in contribution to Debt Service Fund (Fund 56) - ($107,354)
Elimination of additional contribution to Deferred Maintenance Fund (Fund 14) for SVE modernization - ($12,402)
2015/2016
Included 2.4% Step in Column - ($310,534)
Reduction of 1 early retirement incentive payment (PARS) - ($93,168)

27. Moving Forward Cafeteria meal price increase to begin January 13, 2014
Second Interim report presented March 2014
Local Control Accountability Plan
District Goals

28. 2012/2013 Valley Championship Team