2017-18 Adopted Budget Top Facts about the 2017-18 Budget Inc. - - PowerPoint PPT Presentation

Cotati-Rohnert Park USD 2017-18 Adopted Budget

Top Facts about the 2017-18 Budget

1.

Third positive budget in a row!

2.

Enrollment and ADA have been projected conservatively.

3.

Waiting for details about the final state budget.

4.

Changes will be needed.

Inc.

Projected District Enrollment

Forecast uses a conservative cohort projection--very modest growth in all years We have had some enrollment from new housing in University District District Less: ETK CBEDS County Programs Funded Total Change 2014-15 Actual 5,868 n/a 5,868 42 5,910 80 2015-16 Actual 5,897 n/a 5,897 45 5,942 32 2016-17 Actual 5,874 53 5,821 32 5,853

• 89

2017-18 Budget 5,885 60 5,825 32 5,857 4 2018-19 Projected 5,920 66 5,854 32 5,886 29 2019-20 Projected 5,938 72 5,866 32 5,898 12

Projected Average Daily Attendance (ADA)

Forecast is very conservative Used 95% ADA to enrollment ratio Average for last three years is 95.3% ADA growth in two subsequent years due only to increased enrollment P-2 District County Programs Total Change 2014-15 Actual 5,575 45 5,620

• 3

2015-16 Actual 5,640 45 5,685 65 2016-17 Actual 5,556 29 5,585

• 100

2017-18 Budget 5,563 29 5,592 7 2018-19 Projected 5,591 29 5,620 27 2019-20 Projected 5,602 29 5,631 12

District Revenues for 2017-18

2016-17 Estimated Actuals 2017-18 Adopted Budget Net Change 17-18 vs. 16-17 Revenues: LCFF Revenue Sources 49,087,700 49,703,057 1.3% Federal 2,652,441 2,205,517

• 16.8%

Other State 5,632,380 4,948,700

• 12.1%

Other Local 6,040,712 4,614,292

• 23.6%

Total Revenues 63,413,233 61,471,569

• 3.1%

2017-18 Adopted Budget General Fund Projection

16-17 Estimated 17-18 Budget Difference Total Revenue 63,413,233 61,471,569

• 1,941,664

Expenditures: Certificated Salaries 24,827,451 24,635,730

• 191,721

Classified Salaries 6,887,613 6,962,856 75,243 STRS and PERS 5,757,984 6,368,239 610,255 Health Benefits: Actives 9,197,938 9,607,065 409,127 Health Benefits: Retirees 968,740 785,947

• 182,793

Other Employee Benefits 1,966,848 1,687,364

• 279,484

Books & Supplies 1,733,962 1,190,255

• 543,707

Services & Op. Expenditures, Other 13,012,832 10,928,743

• 2,084,089

Net Increase (Decrease)

• 940,135
• 694,630
• 245,505

Beginning Balance 2,997,588 2,057,453

• 940,135

Ending Balance 2,057,453 1,362,823

• 694,630

Budget Highlights for 2017-18

• Additional one-time mandate backlog payment $813,000, down from $1.2

million in 2016-17

• Increased retirement contributions for both STRS and PERS
• CalSTRS 14.43%, up from 12.58% in 2016-17
• CalPERS 15.531% vs. 13.888% in 2016-17
• CVT rates for the October 1, 2017 renewal:
• Kaiser 4 increase 1.48%
• Small decreases to dental, vision and life rates
• No contribution to OPEB trust in budget
• General fund contribution to food service program increases due to PERS

2017-18 Budget Adoption Multi-Year Projections

Factor 2017-18 2018-19 2019-20 Statutory COLA 1.56% 2.15% 2.35% LCFF Factors Gap Funding Percentage 2017-18 2018-19 2019-20

• Dept. of Finance

43.97% 71.53% 73.51%

COLA increases the LCFF target Funding has closed 97% of the gap by 2017-18—ahead of schedule Full funding projected in 2020-21

Projected Unrestricted Reserves 2017-18 Adopted Budget

Unrestricted & Economic Uncertainty Budget Stabilization Reserve Special Reserve Fund Total Reserves Unrestricted Reserve %

2014-15 323,643 855,193 1,178,836 2.21% 2015-16 1,037,899 1,898,917 2,936,816 4.63% 2016-17 579,188 850,432 1,915,299 3,344,919 5.16% 2017-18 789,459 1,934,299 2,723,758 4.34% 2018-19 142,471 1,953,641 2,096,112 3.31% 2019-20 1,973,178 1,973,178 3.07%

District Reserves in Multi-Year Projection: Budget Stabilization Reserve

Other uncertainties remain: Projected enrollment and staffing Gap funding percentage in future years Health premium increases—projected at 3% in 2018-19 and 2019-20 Shown as “Assigned” in multi-year projection

Issues for Future Years

• Operating budget items, such as:
• Instructional materials
• Technology for students and staff—replacement cycle
• Custodial and maintenance staff for added facilities
• Deferred maintenance funding
• Ongoing increases to STRS and PERS
• Funding of retiree medical liability
• Proposed minimum wage increases with no funding increase
• Any future negotiated salary increases
• Impact of the Affordable Care Act changes

What’s Next?

More budget details will come in trailer bills 45 days to update the District budget for the final State budget once the Governor signs it Update to be presented at August 15 board meeting Unaudited Actuals to be presented at September 19 board meeting

Questions?