Presentation on theme: "San Marino Unified School District 2012-13 Second Interim Financial Report Board of Education Meeting March 12, 2013."— Presentation transcript:
San Marino Unified School District 2012-13 Second Interim Financial Report Board of Education Meeting March 12, 2013
Second Interim Report The Second Interim Report looks at actual revenues received and funds expended from July 1, 2012 through January 31, 2013. Financial projections are then made for the remainder of the current 2012-13 year and the subsequent two fiscal years (2013-14 and 2014- 15).
Positive Certification Based upon current and future projections and using assumptions presented herein, the District is submitting a “Positive Certification” to the County and State that it will be able to meet its financial obligations for the current 2012-13 fiscal year and subsequent two fiscal years, 2013-14 and 2014-15.
Revenue Assumptions Revenue Limit Funding State Categorical Funding Lottery Revenues Federal Funding Parcel Taxes Schools Foundation PTA/PTSA Donations Use of Facilities Revenues
Revenue Assumptions 2012-13 2013-14 2014-15 ENROLLMENT 3,150 REVENUE LIMIT ADA 3,060 STATUTORY COLA 3.24% 1.65% 2.20% REVENUE LIMIT DEFICIT -22-272% -22.272% NET REVENUE LIMIT PER ADA $5,302.20 $5,387.85 $5,505.54 FEDERAL FUNDINGSTATUS QUO -10.00% SEQUESTRATION -10.00% SEQUESTRATION CATEGORICAL FUNDINGSTATUS QUO OR LCFF STATUS QUO OR LCFF PARCEL TAX REVENUE$5.3 MILLION
Revenue Adjustments Additional donations from PTA’s, PTSA, and ASB restricted for specific purposes. Federal sequestration 10% revenue reductions beginning in 2014-15
Expenditure Assumptions Salaries Benefits Supplies Services Equipment Other Outgo
Expenditure Assumptions 2012-132013-142014-15 Certificated SalariesStep & Column 186 Work Year and Realignment of Step 17 by 1% TBD Classified SalariesStep & Realignment of Steps 7 and 8 by 1.3% TBD Health BenefitsBased on Actual Rates TBD Statutory BenefitsActual RatesStatus quo Supplies, Svcs & Equip.Budgeted AmountsStatus quo Transfer to Capital Projects Fund $10,000 Transfer to Deferred Maintenance Fund $456,125 Minimum Reserve for Economic Uncertainties 5.00%
Expenditure Adjustments Salaries and benefit adjustments based on column movements Supplies, services and equipment adjustments based on restricted PTA, PTSA, ASB donations Transfers Out
Ending Balance Adjustments Assignment of funds for future year carry-over 5% Reserve for Economic Uncertainties
Next Steps... Monitor State Budget Process Governor’s May Revise 2013 Adopted State Budget July 2013 Kindergarten Registration Enrollment/Staffing Projections Budget Development Proposed District Budget June 25, 2013