2016-17 Unaudited Actuals Report September 5, 2017 General Fund - - PowerPoint PPT Presentation

2016-17 Unaudited Actuals Report

September 5, 2017

General Fund Revenue and Expenditures

LCFF 79% Federal 7% Other State 6% Other Local 8%

LCFF Federal Other State Other Local

Description Amount LCFF 175,174,110 Federal 14,419,320 Other State 14,076,032 Other Local 17,399,502 Total Combined Revenue (Unrestricted & Restricted)

221,068,964

20 2016 16-17 17 Re Reven venue ue

Total General Fund revenue entitlement in 2016-17 was $221 Million

General Fund Combined Revenue History

$- $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 Restricted Revenue * Contribution to Restricted: E.g., LCAP, Sp.Ed., RRMA Unrestricted Revenue

*Removed SELPA Income

We are close to reach the LCFF target funding and have received 97% of LCFF target in 2016-17. This means our revenue in future years will be pretty much a fixed funding rate plus COLA.

General Fund Revenue History by Classification

07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17

$110.69 $120.58 $93.36 $92.35 $93.23 $97.88 $119.32 $119.61 $130.47 $128.62

Unrestricted Revenue in Millions

07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17

$14.22 $7.14 $11.57 $17.01 $18.44 $14.22 $13.03 $31.70 $48.15 $56.91

Contribution to Restricted: E.g., LCAP, Sp.Ed., RRMA in Millions

07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17

$80 $73 $82 $75 $42 $44 $36 $34 $33 $36

Restricted Revenue in Millions

2016-17 Summary When we separate Revenue by classification;

• Unrestricted Revenue drop
• Unrestricted Contribution to restricted

increased

• Restricted Revenue is steady

Description Amount

• Cert. Salaries

92,257,081

• Class. Salaries

27,355,673

Benefits

52,684,899

Textbooks & Supplies

14,200,626

Svcs & Oper. Exp.

25,216,706

Capital Outlay

292,124

Other *

• 626,963

Total General Fund Combined Expenditures

211,380,145

Certificated Salaries 43% Classified Salaries 13% Benefits 25% Textbooks & Supplies 7% Svcs & Oper. Exp. 12% Capital Outlay 0% Other 0%

Certificated Salaries Classified Salaries

Total General Fund expenditures in 2016-17 were $211.4 Million

$(50,000,000.00) $- $50,000,000.00 $100,000,000.00 $150,000,000.00 $200,000,000.00 $250,000,000.00

Certificated Salaries Classified Salaries Employee Benefits Books & Supplies Services & Operating Capital Outlay Other Outgo*

General Fund Combined Expenditures History

The District has seen its expenditures continue to trend materially upward each year starting in 2013-14

School Services of California LCFF Analysis Report

Does the LCFF Restore Purchase Power Lost?

Per SSC report, due the fact that Retirement system establish very high increases to employer contribution rates, the purchase power will not be fully restored to districts purchase power in 2007-08 as state LCFF project promised

STRS and PERS Projected Increases in %

9 1 2 3 4 5 6 7 8 PERS Rate 11.442% 11.771% 11.847% 13.888% 15.531% 18.100% 20.80% 23.80% STRS Rate 8.250% 8.880% 10.730% 12.580% 14.430% 16.280% 18.13% 19.10% 0.000% 5.000% 10.000% 15.000% 20.000% 25.000% 30.000%

STRS & PERS Rates

2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

STRS and PERS Projected Increases in $

10 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 Increase in STRS Cost 5,610,076 6,477,961 8,482,766 11,162,174 12,803,670 14,445,166 16,086,662 16,947,338 Increase in PERS Cost 1,981,425 2,266,840 2,733,057 3,530,358 3,948,012 4,601,057 5,287,402 6,050,008

• 2,000,000

4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 20,000,000

STRS & PERS District Projected Cost Increase

School Services of California General Fund Analysis Report

School Agency Revenues vs. Expenditures Trends

Per SSC report, Revenue trend across all state school agency is steady and expenditures continue a growing trend to the point that they are crossing and exceeding revenue projections starting in 2017-18 and 2018-19 Revenue Expenditures crossing the revenue line and going over Revenue Expenditures

$- $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

Revenue Expenditures

General Fund Revenue vs. Expenditures

The District GAP between revenue and expenditures for 2016-17 is much smaller than what we had in 2007-08 (pre-recession).

Expenditures crossing the revenue line and going over Revenue

2016-17 Unrestricted EFB 2016-17 Restricted EFB 2016-17 Combined EFB

TOTAL REVENUES

185,525,342 35,543,622 221,068,964

TOTAL EXPENDITURES plus CONTRIBUTIONS to Restricted Resources & OTHER

179,918,001 33,433,215 213,351,216

Increase/(Decrease) to Reserve

5,607,341 2,110,406 7,717,748

FUND BALANCE Beginning Fund Balance

49,564,696 15,896,504 65,461,201

Ending Fund Balance prior to other Assignments

55,172,038 18,006,911 73,178,948

COMPONENTS OF ENDING FUND BALANCE Revolving Cash & Stores Inventory

155,015 155,015

Assigned - Board Designated 1%

2,113,801 2,113,801

Assigned – LCFF Gap Funding Economic Uncertainties – 3%

6,341,404 6,341,404

Reserve Restricted Fund

18,006,911 18,006,911

Unappropriated Amount – Amount that establishes our certification

46,561,817 46,561,817

General Fund 2016-17 Ending Fund Balance

Unrestricted EFB prior to assignment is $55.2 Million use:  $44.1 M. are obligated as this will cover for projected deficit spending for the subsequent fiscal years 2017-18 to 2019-20.  $10.3 M. EFB Assignment Cash & Store Inventory, 1% Board reserve, 3% REU, & LCAP GAP.  $778,720 unassigned

2016 016-17 17 Fal allout lout

2016-17 EFB and Fallout Comparison

Unrestricted Restricted Unrestricted/Restricted

2nd Int Projection @ 2nd Interim UA ACTUALS per UA Differ./ Fallout What happen at UA (comparison to 2nd Interim Report)? 2nd Int Projection @ 2nd Interim UA ACTUALS per UA Differ./ Fallout What happen at UA (comparison to 2nd Interim Report)? 2nd Int Projection @ 2nd Interim UA ACTUAL S per UA Differ./ Fallout What happen at UA (comparison to 2nd Interim Report)? REVENUES 184,489,993 185,525,342 1,035,349 More Revenue than Projected @ 2nd Interim 38,593,182 35,543,622

• 3,049,560

Less Revenue than Projected @ 2nd Interim 223,083,175 221,068,964

• 2,014,211

Less Revenue than Projected @ 2nd Interim EXPENDITURES +

• OTH. OUTGO+

Contributions to Restricted Funds 181,521,627 179,918,001

• 1,603,627

Less Expenditures than Projected @ 2nd Interim 49,406,163 33,433,215

• 15,972,948

Less Expenditures than Projected @ 2nd Interim 230,927,790 213,351,216

• 17,576,574

Less Expenditures than Projected @ 2nd Interim Increase/ (Decrease) to Reserve 2,968,366 Increase to Reserve 5,607,341 Increase to Reserve 2,638,976 Increase to Reserve

• 10,812,981

Decrease to Reserve 2,110,406 Increase to Reserve 12,923,387 Increase to Reserve

• 7,844,615

Decrease to Reserve 7,717,748 Increase to Reserve 15,562,363Increase to Reserve FUND BALANCE (FB) Beginning FB 49,572,134 49,564,696

• 7,438

15,889,066 15,896,504 7,438 65,461,200 65,461,201 1 Ending FB Prior to Assignments 52,540,500 55,172,038 2,631,538 5,076,085 18,006,911 12,930,826 57,616,585 73,178,948 15,562,364 EFB Assignment 36,215,241 8,610,220

• 27,605,021

Removed assignments at UA as requested- Balance covering MYP Deficit spending 5,076,085 18,006,911 12,930,826 41,291,326 26,617,130

• 14,674,196

Removed assignments at UA as requested-Balance covering MYP Deficit spending Ending FB for Certification 16,325,259 46,561,818 30,236,560 16,325,259 46,561,818 30,236,560

Unrestricted EFB prior to assignment is $55.2 Million use:  $44.1 M. are obligated as this will cover for projected deficit spending for the subsequent fiscal years 2017-18 to 2019-20.  $10.3 M. EFB Assignment Cash & Store Inventory, 1% Board reserve, 3% REU, & LCAP GAP.  $778,720 unassigned - See MYP including Minimum Wage Mandated Adjustments cost increase.

Revenue Fund 01 Description 2016-17 Estimated Actuals (EA) Budget 2016-17 Unaudited Actuals (UA) Variance Positive (Negative) % Diff LCFF 176,431,801 175,174,110

• 1,257,692
• 0.71%

Federal Revenue 13,667,655 14,419,320 751,665 5.50% State Revenue 15,311,176 14,076,032

• 1,235,144
• 8.07%

Local Revenue 17,524,194 17,399,502

• 124,692
• 0.71%

Grand Total 222,934,826 221,068,964

• 1,865,863
• 0.84%

Expenditures Fund 01 2016-17 Estimated Actuals (EA) Budget 2016-17 Unaudited Actuals (UA) Variance Positive (Negative) % Diff Certificated Salaries 91,412,015 92,257,081 845,066

• 0.92%

Classified Salaries 26,381,013 27,355,673 974,660

• 3.69%

Benefits 52,757,312 52,684,899

• 72,413

0.14% Textbooks & Supplies 19,843,718 14,200,626

• 5,643,092

28.44% Services & Oth Operating 27,805,112 25,216,706

• 2,588,406

9.31% Capital Outlay 302,993 292,124

• 10,869

3.59% Other Outgo, IC, & Others

• 653,798
• 626,963

26,834 4.10% Grand Total 217,848,365 211,380,145

• 6,468,220

2.97%

EFB Description 2016-2017 Estimated Actuals (EA) Budget 2016-2017 Unaudited Actuals (UA) Variance Positive (Negative) % Diff EFB Fund 01 - Before Other Assignments and Reserve Grand Total

70,547,661 73,178,948 2,631,287 3.73%

EFB Fund 01 - After Other Assignments and Reserve Revolving Cash & Stores Inventory

200,000 155,015

• 44,985 -22.49%

Assigned - Board Designated 1%

2,178,484 2,113,801

• 64,683 -2.97%

REU 3%

6,535,451 6,341,404

• 194,047 -2.97%

Restricted Fund Reserve

16,659,305 18,006,911 1,347,606 8.09%

EFB minus other Assignmt. Unassigned EFB

44,974,422 46,561,817 1,587,396 3.53%

Multi–Year Projections

Summary Fund 01.0-01.4 Restricted and Unrestricted

Multi-year projections data included in this presentation correspond to 2016-17 unaudited actuals data, MYP included in the 2017-18 adopted budget, and main changes reported in the 45-Day budget update only. A comprehensive analysis and detailed budget update to include, but no limited to: 1) 2016-17 purchase orders rollover 2) Personal attrition 3) Any other expenditure change 4) Revenue projection change

• ccurring after budget development will be

completed at the 2017-18 First Interim Report due to the CDE on December 15, 2017.

16,500 17,000 17,500 18,000 18,500 19,000 19,500 20,000 20,500 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 20,095 19,591 19,281 19,247 19,078 19,168 18,588 18,102 17,862

Enrollment at CBEDs

+ 90

• 580
• 486
• 240

This is the District’s report on Declining Enrollment based on previous years CBEDS data and current estimates from 2017-18 to 2019-20

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 19,165 18,820 18,426 18,395 18,231 18,234 17,752 17,288 17,059 19,158 18,681 18,462 18,344 18,227 18,167 17,752 17,288 17,059 18,468 18,348 18,233 18,170 17,752 17,333 17,059 P1 ADA P2 ADA LCFF FCMAT Funded ADA

• 418
• 418
• 274

This is the District’s report on Declining ADA per previous years attendance reports and current estimates from 2017-18 to 2019-20

2016-17 2017-18 2018-19 2019-20 Enrollment CBEDS** and Estimates 19,168 18,588 18,102 17,862 Enrollment Year to Year Change 90 (580) (486) (240) Unduplicated Count Estimates 16,595 16,172 15,568 15,361 Unduplicated Count % 86.76% 87.00% 86.00% 86.00% Current Year Projected ADA Estimates 18,170.03 17,751.54 17,287.90 17,059.36 Projected ADA % 95.00% 95.50% 95.50% 95.51% ADA Year to Year Change (63.16) (418.49) (463.64) (228.54) Funded ADA Estimates using FCMAT Calculator 18,170.03 17,751.54 17,333.05 17,059.36 Funded ADA % 95.00% 95.50% 95.75% 95.51% **NOTE: Enrollment for 2017-18 in LCFF Revenue calculation is 19,127. This is prepopulated information in FCMAT calculator per CDE report.

General Fund MYP Ending Fund Balance Revenue Changes from Adopted Budget

Item May Revision Adopted Budget Finance Implications for 2017-18 MYP LCFF Gap Funding and ADA reduction GAP: 43.97% ADA: GAP: 43.19% ADA:

• $2,035,418

Final FCMAT Calculation

3 years total revenue at

($535,618,002 @ adopted budget) ($533,582,584 @ unaudited actuals)

One-Time Discretionary Funds $147 per ADA contingent (Delay to May 2019) $147 per ADA (No delay) +$2,670,621

*See State Revenue

Mandated Block Grant $28.42 per ADA $30.34 per ADA +$34,882

*See State Revenue

NOTE: Budget adjustments will be included with 2017-18 the First Interim Report

2017-18 MYP - Changes after Adopted Budget Report

2017-18 Adopted Budget 2017-18 Budget 8/11/17 Difference Unrestricted Restricted Combined Unrestricted Restricted Combined Combined ONLY Changes posted to MYP after adopted budget Revenue 182,249,769 34,792,494 217,042,263 183,351,421 34,792,494 218,143,915 1,101,652 LCFF changes due to ADA projection and LCFF GAP changes, One Time Revenue and Mandated Block Grant Expenditures 130,202,416 103,645,842 233,848,258 123,869,673 103,645,842 227,515,515 (6,332,743) Removed Buses Purchase and added Minimum wage salary & benefits cost increase Contributions & Other (64,104,185) 64,104,185

• (64,104,185)

64,104,185

• N/A

Deficit/Surplus (12,056,832) (4,749,163) (16,805,995) (4,622,437) (4,749,163) (9,371,600) 7,434,395 Per Changes above Beginning Balance 53,888,357 16,659,305 70,547,661 55,172,039 18,006,911 73,178,950 2,631,288 Per actual Ending Fund Balance in the UA report Ending Fund Balance 41,831,525 11,910,142 53,741,666 50,549,602 13,257,748 63,807,349 10,065,683 Per Changes above Revolving/Stores/ Pre- paids 200,000

• 200,000

155,015

• 155,015

(44,985) Match 2016-17 UA assignment Board Reserve (1%) 2,338,483

• 2,338,483

2,275,155

• 2,275,155

(63,328) Per Changes in Expenditures Reserve for Econ Uncertainty (3%) 7,015,448

• 7,015,448

6,825,465

• 6,825,465

(189,983) Per Changes in Expenditures LCFF GAP Reserve

• N/A

Restricted Programs

• 11,910,142

11,910,142 13,257,748 13,257,748 Per Changes above Bus Lease Reserve

• 6,400,000

6,400,000 6,400,000 Bus purchase rescheduled to 2018-19 Unappropriated Fund Balance 32,277,594

• 32,277,594

34,893,966

• 34,893,966

2,616,373 Per Changes above Unappropriated % 14.87% 16.00%

2016-17 Unaudited Actuals Revised 2016-17 Unaudited Actuals Revised 2016-17 Unaudited Actuals Revised 2016-17 Unaudited Actuals Revised 2016-17 Actuals per Unaudited Actuals 2017-18 Projected Budget 2018-19 Projected Budget 2019-20 Projected Budget Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Unrestricted Combined 2016-17 2017-18 2018-19 2019-20 LCFF 175,174,110 175,174,110 175,486,840 175,486,840 178,103,811 178,103,811 179,991,933 179,991,933 Federal Revenue 14,419,320 14,419,320 15,719,611 15,719,611 14,791,257 14,791,257 14,436,189 14,436,189 State Revenue 7,440,743 6,635,289 14,076,032 5,928,366 4,507,143 10,435,509 3,137,712 4,485,318 7,623,030 3,090,264 4,484,909 7,575,173 Local Revenue 2,910,490 14,489,012 17,399,502 1,936,215 14,565,740 16,501,955 1,601,808 14,720,790 16,322,598 1,601,808 11,099,861 12,701,669 Total Revenue 185,525,342 35,543,622 221,068,964 183,351,421 34,792,494 218,143,915 182,843,331 33,997,364 216,840,695 184,684,005 30,020,959 214,704,964 Expenditures Certificated Salaries 56,377,429 35,879,652 92,257,081 53,482,818 38,193,266 91,676,084 53,415,771 38,625,194 92,040,965 54,083,468 39,014,129 93,097,598 Classified Salaries 13,431,820 13,923,853 27,355,673 13,380,501 14,930,156 28,310,657 13,636,387 15,105,880 28,742,267 13,894,504 15,272,202 29,166,706 Benefits 30,199,861 22,485,038 52,684,899 31,121,301 27,464,947 58,586,248 32,980,058 29,140,806 62,120,864 35,156,407 30,831,024 65,987,432 Books and Supplies 10,200,910 3,999,717 14,200,626 10,492,273 10,070,469 20,562,742 10,491,832 11,752,749 22,244,580 15,472,898 12,588,091 28,060,989 Other Services & Oper. Expenses 14,172,997 11,043,709 25,216,706 16,460,691 10,992,428 27,453,119 15,386,342 11,078,779 26,465,121 15,316,391 11,116,105 26,432,496 Capital Outlay 45,529 246,595 292,124 845,007 802,963 1,647,970 6,446,443 828,578 7,275,020 47,771 852,275 900,046 Other Outgo 7xxx 397,447 204,575 602,022 315,228 315,228 325,284 325,284 334,587 334,587 Transfer of Indirect 73 (1,817,208) 588,223 (1,228,985) (2,228,146) 1,191,613 (1,036,533) (2,299,224) 1,220,872 (1,078,352) (2,364,982) 1,237,722 (1,127,260) Total Expenditures 123,008,784 88,371,361 211,380,145 123,869,673 103,645,842 227,515,515 130,382,892 107,752,858 238,135,750 131,941,044 110,911,549 242,852,593 Deficit/Surplus 62,516,558 (52,827,739) 9,688,819 59,481,748 (68,853,348) (9,371,600) 52,460,439 (73,755,494) (21,295,055) 52,742,961 (80,890,590) (28,147,629) Other Sources/(uses) & Transfers in/(out) (1,971,071) (1,971,071) Contributions to Restricted (56,909,217) 56,909,217 (64,104,185) 64,104,185 (71,023,821) 71,023,821 (73,660,506) 73,660,506 Net increase (decrease) in Fund Balance 5,607,341 2,110,406 7,717,748 (4,622,437) (4,749,163) (9,371,600) (18,563,383) (2,731,673) (21,295,055) (20,917,546) (7,230,084) (28,147,629) Beginning Balance 49,564,696 15,896,504 65,461,201 55,172,039 18,006,911 73,178,950 50,549,602 13,257,748 63,807,349 31,986,219 10,526,075 42,512,294 Ending Fund Balance Prior to Assignments 55,172,038 18,006,911 73,178,948 50,549,602 13,257,748 63,807,349 31,986,219 10,526,075 42,512,294 11,068,673 3,295,991 14,364,665 Revolving/Stores/Prepaids 155,015 155,015 155,015 155,015 155,015 155,015 155,015 155,015 Board Reserve (1%) 2,113,801 2,113,801 2,275,155 2,275,155 2,381,358 2,381,358 2,428,526 2,428,526 Reserve for Econ Uncertainty (3%) 6,341,404 6,341,404 6,825,465 6,825,465 7,144,073 7,144,073 7,285,578 7,285,578 LCFF GAP funding 2,616,971 2,616,971 421,284 421,284 Restricted Programs 18,006,911 18,006,911 6,400,000 13,257,748 19,657,748 10,526,075 10,526,075 3,295,992 3,295,992 Unappropriated Fund Balance 46,561,817 (0) 46,561,817 34,893,966 34,893,966 19,688,803 19,688,803 778,271 (1)

778,270

Unappropriated % 21.06% 16.00% 9.08%

0.36%

General Fund MYP Ending Fund Balance

Unrestricted EFB prior to assignment is $55.2 Million use:  $44.1 M. are obligated as this will cover for projected deficit spending for the subsequent fiscal years 2017-18 to 2019-20.  $10.3 M. EFB Assignment Cash & Store Inventory, 1% Board reserve, 3% REU, & LCAP GAP.  $778,220 unassigned

.

LCFF Increased Funding while in LCFF transition period

• 30,000,000
• 25,000,000
• 20,000,000
• 15,000,000
• 10,000,000
• 5,000,000

5,000,000 10,000,000 15,000,000 20,000,000

11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20

• 8,661,275
• 1,809,199

10,662,349 7,559,755 19,189,620 7,717,748 (9,371,600)

• 21,295,055
• 28,147,629

Actu tual als MYP Projecti

• jection

Budget Cuts Main reason for deficit expenditure projections is the Increasing Expenditure trend vs. Steady Revenue trend

LCFF Reaching Target at 97% in 2017-18 (Steady Revenue)

Fund Description Beginning Balance [Plus] Revenue / Transfers In [Minus] Expenditures / Transfers Out [is Equal to:] Ending Balance 10.0 Special Education Pass Through $ 7,584,813.00 $ 65,620,031.06 $ 62,795,691.86 $ 10,409,152.20 12.0 Child Development $ 238,291.49 $ 13,483,320.22 $ 13,480,970.27 $ 240,641.44 13.0 Cafeteria $ 4,717,048.00 $ 13,707,720.44 $ 12,839,416.88 $ 5,585,351.56 20.0 Post Employment Benefits $ 176,992.00 $ 1,947.09 $ 178,939.09 21.0 Building Fund (GO Bonds) $ 10,543,824.00 $ 56,781,588.83 $ 7,805,588.75 $ 59,519,824.08 25.0 Capital Facilities (Dev Fees) $ 53,515.00 $ 432,214.69 $ 132,126.52 $ 353,603.17 40.0 Capital Outlay $ 2,715,788.00 $ 3,190,413.46 $ 3,612,519.32 $ 2,293,682.14 49.0 Building Fund (Spec Tax Bonds) $ 371,877.00 $ 24,836,491.47 $ 1,588,974.12 $ 23,619,394.35 51.0 Bond Interest & Redemption $ 3,415,555.00 $ 6,433,229.00 $ 3,882,936.00 $ 5,965,848.00 52.0 Debt Service (Spec Tax Bonds) $ 17,425,440.00 $ 20,314,755.63 $ 26,290,992.61 $ 11,449,203.02 56.0 Debt Service (COPs) $ 69,373.00 $ 3,335,067.65 $ 2,556,213.27 $ 848,227.38

This Table indicates Beginning Fund Balance, Revenue, expenditures, and Ending Fund Balance for all other funds in 2016-17.

Report Description Palmdale School District Results CEA Percent of Current Costs of Education for Classroom Compensation - Must meet or exceed 60% for Elementary Districts Value = 63.36% Target Met GANN The GANN limit is a limit on the appropriation of tax revenues

• f all California Government - State, cities, counties, school

agencies, special districts. The Districts calculations and documentation are made in accord with applicable constitutional and statutory law. Adjusted Appropriations GANN Limit = $123,854,425 Appropriations Subject to GANN Limit = $123,854,425 ICR The Indirect Cost Rate is the amount that can be charged to restricted categorical programs to recover administrative costs. Indirect Charged = $1,817,208 Indirect Rate for 12-13 = 6.70% Indirect Rate for 13-14 = 6.70% Indirect Rate for 14-15 = 5.98% Indirect Rate for 15-16 = 6.66% Indirect Rate for 16-17 = 5.39% NCMOE No Child Left Behind (NCLB) Maintenance of Effort (MOE)

• Determination. Established to improve the education
• pportunities for every child. The District must have a

minimum of 90% of the prior year expenditures to meet the MOE requirements. PY Expenditures = $173,024,168 90% of PY Exp = $155,721,751 CY Expenditures = $192,552,151 MOE Met

• Change continues
• E.g., Enrollment, ADA, Personnel, & Other Unexpected
• Steps to LCFF target are uncertain
• Conservative Expenditure
• STRS and PERS Rates Increase
• 2017-18 First Interim Report coming in December

Looking Forward