2013-14 Final Budget/Actuals Sierra Joint Community College District - PowerPoint PPT Presentation

2013-14 Final Budget/Actuals Sierra Joint Community College District December 2014

2013-14 Budget Odyssey 1. Tentative Budget presented in June 2013 2. Adopted Budget presented in September 2013 3. Budget Revision 1 presented in February 2014 4. Budget Revision 2 presented in June 2014 5. Final/Actual Budget presented in December 2014

RESERVES The uncommitted fund balance (reserves) at year end is $11,097,603 $5 million moved out of reserves in June - $3M to capital projects & $2M to bargaining units Total General Fund expenses (restricted and unrestricted) for the year were 92,819,303. This gives the district a fund balance percentage of 12% (11,097,603/92,819,303) at year end.

Summary: Revenue/Expenditures Final Budget (as of 11/4/14) YTD Actuals (as of 11/4/14) General Fund General Fund General Fund General Fund General Fund General Fund Unrestricted Restricted Total Unrestricted Restricted Total Revenues 8000 Revenue 80,798,270 11,759,057 92,557,327 80,505,115 10,685,384 91,190,498 Total Revenues $ 80,798,270 $ 11,759,057 $ 92,557,327 $ 80,505,115 $ 10,685,384 $ 91,190,498 Expenses, Debt, Transfers & Other 1000 Certificated Salaries 33,374,958 1,886,188 35,261,146 33,164,022 1,809,527 34,973,549 2000 Classified Salaries 16,100,862 2,100,389 18,201,251 16,095,864 2,092,176 18,188,041 3000 Benefits 15,315,313 607,946 15,923,259 14,913,696 586,757 15,500,453 4000 Supplies and Materials 1,506,649 1,045,163 2,551,811 1,363,109 680,770 2,043,879 5000 Other Operating Expenses and Services 9,893,838 4,446,688 14,340,527 9,379,815 3,918,628 13,298,444 6000 Capital Outlay 1,002,791 1,066,147 2,068,937 957,003 995,384 1,952,387 7000 Debt Payments, Transfers, Other 6,318,502 606,536 6,925,038 6,260,410 602,141 6,862,550 Total Expenses, Debt, Transfers & Other $ 83,512,912 $ 11,759,057 $ 95,271,969 $ 82,133,919 $ 10,685,384 $ 92,819,303 Beginning Fund Balance 16,013,007 16,013,007 Change in Fund Balance (2,714,642) (1,628,805) Total Estimated Unrestricted Fund Balance 13,298,365 14,384,202

District’s Unrestricted Revenues Total Revenues $80,505,115 State Apportionment $72M (90%) Other State Dollars $2.7M ( 3%) Local/Other Revenues $3.9M ( 5%) One-Time Funds $1.8M ( 2%) *Revenue Details on Exhibit E of Board Packet

2013-14 Revenues Included: COLA of $1.1 million (1 st since 2008-09) No GROWTH funding (potential of $1.1M) District received stability funding of $5.6M

FTES Picture 15,000 14,801 14,500 14,582 14,000 FTES 13,500 13,359 13,000 12,500 2012-13 (Actual) 2013-14 (Reported) 2014-15 (Estimated)

District’s Unrestricted Expenditures Total Expenditures $82,133,919 Certificated Salaries $33.1M Classified Salaries $16.1M Benefits $14.9M Supplies/Operations $11.7M Debt/Transfers $6.2M * Expense details on Exhibit D of Board Packet

Structural Surplus/Deficit in 2013-14 Change in Fund Balance (1,628,805) One-time Prior Yr Apportionment Revenue (1,868,662) One-Time SCFA & SCMA Payouts 802,000 Furloughs - SCMA 125,000 Scheduled Maintenance 176,000 ePAR Allocations 765,788 Board Directed Transfer to Cap Projects 3,000,000 Structural Surplus/(Deficit) $ 1,371,321 See Bottom of Exhibit B of Board Packet

2013-14 Deficit Factor Due to a statewide property tax shortfall, a 1% deficit factor exists, which equals $727K February we will know final 2013-14 deficit Any changes to the deficit will be reflected as a one- time adjustment in 2014-15

Restricted/Categorical Funds Final Actual Amount $10.7M Major Restricted/Categorical Programs Student Success & Support Program (SSSP) 830,155 Lottery 546,462 Disabled Student Programs and Services (DSPS) 720,742 Extended Opportunity Programs and Services (EOPS) 580,193 Board Financial Assistance Program (BFAP) 577,594 Career and Technical Education (CTE - 5 awards) 569,629 Community Education 1,271,340 Parking 1,179,511 Health Services 545,948 Misc Other (29) 3,863,010

Reserve History 2009-10 13.2% 2010-11 16.2% 2011-12 16.4% 2012-13 14.8% 2013-14 12.0% *See Exhibit G in board packet