2015/16 FISCAL YEAR BUDGET PRESENTATION BO A RD O F TRUSTEES M - - PowerPoint PPT Presentation
2015/16 FISCAL YEAR BUDGET PRESENTATION BO A RD O F TRUSTEES M EETING JUNE 9 , 2 0 1 5 DISCUSSION OVERVIEW I nitia l T ho ug hts a nd Ge ne ra l Assumptio ns 2015/ 16 F isc a l Ye a r Budg e t Multiple -ye a r Budg e t Pro je c
BO A RD O F TRUSTEES M EETING JUNE 9 , 2 0 1 5
xpe nditure s
lo w
nding F und Ba la nc e
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nc re a se d re ve nue is re c o g nize d in b udg e t & MYP
nc re a se d re ve nue is no t re fle c te d in L CAP o r spe nding pla n
nding b a la nc e is infla te d in sho rt te rm
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Ja nua ry Ma y Ga p % 32.19% 53.08% COL A 1.58% 1.02% Adjuste d Ba se Gra nt pe r ADA $8,849 $8,801 Curre nt Ye a r Ga p F unding $7.0 m $11.3 Supple me nta l Gra nt pe r ADA $854 $852 Supple me nta l Gra nt $2.9 m $4.2 m Minimum Pro po rtio na lity 5.69% 6.97% One -time pe r ADA $180 $601 One -time pe r Amo unt $2.5 m $8.3 m
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2015/16 2016/17 2017/18 2018/19 State Budget Info Statutory COLA 1.02% 1.60% 2.48% 2.87% Gap Funding Rate (SSC) 53.08% 12.62% 18.24% 20.58% Gap Funding Rate (DOF) 53.08% 37.40% 36.74% 20.97% STRS-PERS CalSTRS Rate 10.73% 12.58% 14.43% 16.28% CalPERS Rate 11.87% 13.05% 16.60% 18.20% CalSTRS Increase Over Prior Year $1,225,000 $1,200,000 $1,196,000 $1,200,000 CalPERS Increase Over Prior Year $167,000 $215,000 $633,000 $365,000 Combined Increase Over Prior Year $1,392,000 $1,415,000 $1,829,000 $1,565,000 Cumulative Amount $2,807,000 $4,636,000 $6,201,000 District Info Enrollment 14,396 14,396 14,396 14,396 P-2 ADA 13,849 13,849 13,849 13,849 Step and Column Cost 1,150,000 $ 1,094,475 $ 820,500 $ 785,000 $
xpe nditure s fo r the b udg e t ye a r a nd sub se q ue nt two ye a rs, inc luding a ppro pria tio ns fo r c o nting e nc ie s fo r the Ge ne ra l F und a nd e a c h spe c ia l fund , will no t e xc e e d the to ta l re ve nue s plus a ny c a rryo ve r fro m prio r ye a rs, o r b e g inning b a la nc e s a va ila b le fo r tha t fund.
limina te Struc tura l De fic it
c o ntinue re d uc tio n a nd e limina tio n o f the struc tura l de fic it b y 2015/ 16 in o rde r to a ssure q ua lity e duc a tio na l pro g ra ms.
c o ntinue d e ve lo ping a nd imple me nting de ta ile d thre e -ye a r fina nc ia l b udg e ts a nd pla ns c o nsiste nt with the susta ina b ility
Se e a g e nda pa g e s 51-22
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(T
und E xpe nditure s – Ca pita l Outla y a nd Othe r Outg o ) x 0.50%
$200,000
$400,000 $800,000
$600,000 $800,000
$800,000 $800,000
(T
und E xpe nditure s – Ca pita l Outla y a nd Othe r Outg o ) x 3.0%
$3.3 millio n
$4.4 millio n
Se e a g e nda pa g e s 61-62
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e xtb o o k/ instruc tio na l ma te ria ls a do ptio ns $1,500,000
$350,000
e c hno lo g y initia tive s & upg ra de s $500,000
$100,000
$100,000
urniture re pla c e me nt $50,000
ra nspo rta tio n sho p e q uipme nt $35,000
$2,635,000
mplo ye e Be ne fits (OPE B)
und 20 Spe c ia l Re se rve fo r Po ste mplo yme nt Be ne fits (GASB 45 se t-a side )
Se e a g e nda pa g e s 62-63
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Re ve nue s $157,759,736 E xpe nditure s Ce rtific a te d Sa la rie s $64,313,657 Cla ssifie d Sa la rie s 18,738,780 Be ne fits 29,859,349 Bo o ks & Supplie s 7,956,547 Se rvic e s & Othe r 14,456,986 Ca pita l Outla y 742,425 Othe r Outg o 9,605,655 T ra nsfe rs (53,738) T
xpe nditure s $145,619,661 E xc e ss (De fic ie nc y) 12,140,075 Othe r So urc e s/ Use s ($805,177 - $269,450) 535,727 Ne t I nc re a se (De c re a se ) $12,675,802
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Be g inning F und Ba la nc e $18,512,376 Ne t I nc re a se (De c re a se ) 12,675,802 T
nding F und Ba la nc e $31,188,178 Co mpo ne nts o f E nding Ba la nc e Re vo lving Ca sh, Sto re s, Pre pa id $ 215,701 L e g a lly Re stric te d 1,223,459 Othe r De sig na tio ns 11,659,675 3% Re se rve fo r E c o no mic Unc e rta inty 4,376,674 Unre stric te d/ Una ssig ne d/ Una ppro pria te d 13,712,669 T
nding F und Ba la nc e $31,188,178
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Se e Ha ndo ut – 2014/ 15 – Budg e t Summa ry a nd Co mpa riso n
School Services of California 2015/16 2016/17 2017/18 Gap Funding % 53.08% 12.62% 18.24% Revenues1 $157,759,736 $149,115,718 $ 152,088,237 Total Expenditures2 $145,619,661 $148,603,994 $ 153,836,481 Excess (Deficiency) $ 12,140,075 $ 511,724 $ (1,748,244) Net Sources/Uses (Transfers) $ 535,727 $ 535,727 $ 535,727 Net Increase (Decrease) $ 12,675,802 $ 1,047,451 $ (1,212,517) Beginning Fund Balance $ 18,512,376 $ 31,188,178 $ 32,235,629 GF Ending Fund Balance $ 31,188,178 $ 32,235,629 $ 31,023,112 GF “U3” Ending Balance3 $13,712,669 $10,016,473 $3,177,263 Reserves4/Expenditures 12.42% 9.84% 5.17%
1State revenue projections under LCFF funding assume School Services projections 2Supplemental gap funding expenditures are included as assignments 3Unrestricted/Unassigned/Unappropriated 43% Required Reserves + Unrestricted/Unassigned/Unappropriated
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Department of Finance 2015/16 2016/17 2017/18 Gap Funding % 53.08% 12.62% 18.24% Revenues1 $157,759,736 $152,126,402 $ 156,573,506 Total Expenditures2 $145,619,661 $148,603,994 $ 153,836,481 Excess (Deficiency) $ 12,140,075 $ 3,522,408 $ 2,737,025 Net Sources/Uses (Transfers) $ 535,727 $ 535,727 $ 535,727 Net Increase (Decrease) $ 12,675,802 $ 4,058,135 $ 3,272,752 Beginning Fund Balance $ 18,512,376 $ 31,188,178 $ 35,246,313 GF Ending Fund Balance $ 31,188,178 $ 35,246,313 $ 38,519,065 GF “U3” Ending Balance3 $13,712,669 $13,027,157 $10,673,216 Reserves4/Expenditures 12.42% 11.87% 10.05%
1State revenue projections under LCFF funding assume School Services projections 2Supplemental gap funding expenditures are included as assignments 3Unrestricted/Unassigned/Unappropriated 43% Required Reserves + Unrestricted/Unassigned/Unappropriated
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School Services Projection
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School Services Projection
*$805,177 is tra nsfe rre d a nnua lly to the Ge ne ra l F und.
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Description
2015/16 2016/17 2017/18 School Carryover 158,000 158,000 158,000 Mandated Costs-School Carryover 38,000 38,000 38,000 Summer School 2015 Supplies Carryover 5,000 5,000 5,000 Summer School 2016 Supplies 4,000 4,000 4,000 School Improvement Program Carryover 30,000 30,000 30,000 School Library Program Carryover 48,104 48,104 48,104 Vehicle Replacement Reserve 100,000 100,000 100,000 Technology Reserve 350,000 350,000 350,000 EIA Carryover 166,765 166,765 166,765 Cal-Safe Support Carryover 242,059 242,059 242,059 Instructional Materials Textbooks (IMF) Carryover 771,877 771,877 771,877 PAR Carryover 3,000 3,000 3,000 Furniture Reserve 50,000 50,000 50,000 Health Care Reform Reserve 150,000 150,000 150,000 Food Service POS System 100,000 100,000 100,000 Textbook Adoptions 1,500,000 1,500,000 1,500,000 Technology Initiative & Upgrades 500,000 500,000 500,000 Transportation Shop Equipment 35,000 35,000 35,000 Unrestricted Lottery -School Carryover 119,000 119,000 119,000 Unrestricted Lottery Carryover 3,059,178 3,059,178 3,059,178 LCAP Supplemental Reserve 15/16 4,229,692 8,459,384 12,689,076 LCAP Supplemental Reserve 16/17
927,706 LCAP Supplemental Reserve 17/18
3% Reserve Requirement 4,376,674 4,607,010 4,783,042 Unrestricted Unappropriated/Undesignated 13,712,669 10,016,473 3,177,263 TOTAL UNRESTRICTED ASSIGNED FD BAL: 29,749,018 30,976,703 29,642,313
General Fund Unrestricted Ending Fund Balance Allocations
1. Disc ussio n o f use o f funds in a n o pe n me e ting 2. Amo unts re c e ive d/ e xpe nde d po ste d o n Distric t we b site 3. F unds c a nno t b e use d fo r a dministra to r sa la rie s/ c o sts
xpe nditure s $17,907,069
xpe nditure s $18,780,368
xpe nditure s $19,345,599
*Pro po sitio n 30 wa s pa sse d b y Ca lifo rnia vo te rs in No ve mb e r 2012 a nd we nt into e ffe c t in Ja nua ry 2013. It ra ise d the Sta te ’ s g e ne ra l sa le s ta x b y a q ua rte r o f a c e nt fo r fo ur ye a rs a nd the inc o me ta xe s fo r pe o ple who ma ke a t le a st $250,000 b y up to 3 pe rc e nta g e po ints fo r se ve n ye a rs. 18
I n sub mitting the 2015/ 16 Budg e t, the Bo a rd o f T ruste e s unde rsta nds its fiduc ia ry re spo nsib ility to ma inta in fisc a l so lve nc y fo r the c urre nt a nd sub se q ue nt two fisc a l ye a rs. I n c o njunc tio n with a do ptio n o f the 2014/ 15 b udg e t, a d e fic it e limina tio n pla n wa s a ppro ve d b y the Bo a rd o f T ruste e s. T his pla n a ddre sse s the spe nding imb a la nc e thro ug h a c o mb ina tio n
me a sure s, a nd po te ntia l re ve nue tra nsfe rs. T he se me a sure s ha ve no t ye t b e e n fully re c o g nize d in the b udg e t a nd multi-ye a r pro je c tio n. I n o rde r to ma inta in multi-ye a r fisc a l so lve nc y, the Distric t ma y ne e d to ma ke e xpe nditure re duc tio ns in 2015/ 16, 2016/ 17, a nd/ o r 2017/ 18.
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CAP Pre se nta tio n a nd Pub lic He a ring
CAP
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isc a l So lve nc y Sta te me nt
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