2017-18 Unaudited Actuals Report September 4, 2018 1 2017-18 - - PowerPoint PPT Presentation

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2017-18 Unaudited Actuals Report September 4, 2018 1 2017-18 - - PowerPoint PPT Presentation

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2017-18 Unaudited Actuals Report September 4, 2018 1 2017-18 Revenue Summary Federal Other State 8% 5% Other Local Description Amount 10% LCFF $175,485,376 Federal $17,769,111 Other State $12,450,331 LCFF Other Local $22,537,797

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SLIDE 1

2017-18 Unaudited Actuals Report

September 4, 2018

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SLIDE 2

2017-18 Revenue Summary

Total General Fund Revenue Entitlement in 2017-18 was $228 Million

LCFF 77% Federal 8% Other State 5% Other Local 10%

LCFF Federal Other State Other Local

Description Amount

LCFF $175,485,376 Federal $17,769,111 Other State $12,450,331 Other Local $22,537,797 Total Combined Revenue (Unrestricted & Restricted) $228,242,615

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Other Local Revenue overstated by $1.2M. Audit adjustment to revenue is expected with the 2017-18 audit.

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SLIDE 3

General Fund Combined Revenue History

$- $50 $100 $150 $200 $250 MILLIONS Restricted Revenue * Contribution to Restricted: E.g., LCAP, Sp.Ed., RRMA Unrestricted Revenue

*Removed SELPA Income

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SLIDE 4

General Fund Revenue History by Classification

08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18

121 93 92 93 98 119 120 130 129 122

Unrestricted Revenue in Millions

08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18

7 12 17 18 14 13 32 48 57 63

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

08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18

$73 $82 $75 $42 $44 $36 $34 $33 $36 $43

Restricted Revenue in Millions

2017-18 Summary

  • Unrestricted Revenue Decreased
  • Unrestricted Contribution to Restricted Increased
  • Restricted Revenue Increased

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SLIDE 5

2017-18 Expenditure Summary

Total General Fund Expenditures in 2017-18 were $236 Million

*Indirect Cost Transfer totaled -$1,735,298 resulting in a net expenditure of $234,698,947

Certificated Total Classified Total Benefits Total Books and Supplies Services and Other Operating Capital Outlay Other Outgoing Transfers of Indirect Costs

Description Amount

Certificated Salaries $ 95,815,548 Classified Salaries $ 30,341,982 Employee Benefits $ 56,739,544 Books and Supplies $ 14,490,865 Services and Other Operating $ 29,456,548 Capital Outlay $ 9,012,855 Other Outgoing $ 576,902 Total Expenditures $ 236,434,245 5

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SLIDE 6

$- $50 $100 $150 $200 $250

Millions

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 beginning in 2013-14

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SLIDE 7

$150 $170 $190 $210 $230 $250 $270

Millions

Revenue Expenditures

General Fund Revenue vs. Expenditures

In 2017-18 expenditures exceeded revenues and expenditures are expected to continue to exceed revenues in the projected years.

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SLIDE 8

General Fund 2017-18 Ending Fund Balance

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2017-18 Unrestricted EFB 2017-18 Restricted EFB 2017-18 Combined EFB Total Revenues 185,387,971 42,854,644 228,242,615 Total Expenditures plus Contributions to Restricted Resources and Other 196,407,268 39,124,225 235,531,494 Increase/(Decrease) to Reserve (11,019,298) 3,730,419 (7,288,879) Fund Balance Beginning Fund Balance 54,796,693 18,006,911 72,803,604 Ending Fund Balance Prior to Other Assignments 43,777,395 21,737,329 65,514,725 Components of Ending Fund Balance Revolving Cash 50,000

  • 50,000

Stores 38,170

  • 38,170

Other Assignment-Deficit Spending 24,287,345

  • 24,287,345

Other Assignment - Unrestr Programs 4,912,172

  • 4,912,172

Reserve for Economic Uncertainties 7,120,000

  • 7,120,000

Reserved Restricted Fund

  • 21,737,329

21,737,329 Unappropriated Amount - Amount that establishes our certification 7,369,709

  • 7,369,709
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SLIDE 9

Fund 01- General Fund Variance Estimates vs. 2017-18 Unaudited Actuals

2017-18 Estimated Actuals (EA) Budget 2017-18 Unaudited Actuals (UA) Budget Variance % Change REVENUE FUND 01 LCFF Sources 175,891,902 175,485,376 (406,526)

  • 0.23%

Federal Revenue 16,941,731 17,769,111 827,380 4.88% Other State Revenue 13,176,075 12,450,331 (725,744)

  • 5.51%

Other Local Revenue 18,347,305 22,537,797 4,190,492 22.84% Total Revenue 224,357,013 228,242,615 3,885,602 1.73% EXPENDITURES FUND 01 Certificated Total 95,741,990 95,815,548 73,558 0.08% Classified Total 30,463,582 30,341,982 (121,600)

  • 0.40%

Benefits Total 57,550,364 56,739,544 (810,820)

  • 1.41%

Books and Supplies 15,724,391 14,490,865 (1,233,526)

  • 7.84%

Services and Other Operating 28,828,831 29,456,548 627,717 2.18% Capital Outlay 8,946,247 9,012,855 66,608 0.74% Other Outgo, IC, & Others (1,145,389) (1,158,396) (13,007) 1.14% Total Expenditures 236,110,016 234,698,947 (1,411,069)

  • 0.60%

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$1.2M was over accrued for excess costs from Wilsona School District resulting in a $4.1M variance. The variance should be $2.9M or 16%.

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SLIDE 10

Fund 01- General Fund Variance Estimates vs. 2017-18 Unaudited Actuals

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2017-18 Estimated Actuals (EA) Budget 2017-18 Unaudited Actuals (UA) Budget Variance % Change Ending Fund Balance Prior to Other Assignments 59,912,982 65,514,725 5,601,742 9.3% Components of Ending Fund Revolving Cash 100,000 50,000 (50,000)

  • 50.0%

Stores 55,000 38,170 (16,831)

  • 30.6%

Other Assignment-Deficit 24,287,345 24,287,345

  • 0.0%

Other Assignment - Unrestr 4,389,160 4,912,172 523,012 11.9% Reserve for Economic 7,120,000 7,120,000

  • 0.0%

Reserved Restricted Fund 21,449,310 21,737,329 288,019 1.3% Unappropriated Amount - Amount that establishes our certification 2,512,167 7,369,709 4,857,542 193.4%

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SLIDE 11

20,095 19,591 19,281 19,247 19,074 19,170 18,692 18,288 17,546 17,182

15,500 16,000 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 (Proj) 2019-20 (Proj) 2020-21 (Proj) Enrollment at CBEDs *Enrollment projections will be updated at 1st interim.

2018-19 Proposed Budget Report Assumptions: Enrollment

  • 405
  • 742
  • 364
  • 434

2018-19 enrollment as of 08/31/2018 is 19,038

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SLIDE 12
  • $8.66
  • $1.81

$10.66 $7.56 $19.19 $7.72

  • $7.29
  • $11.13
  • $18.14
  • $16.08
  • $25
  • $20
  • $15
  • $10
  • $5

$0 $5 $10 $15 $20 $25

11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21

LCFF Increased Funding while in LCFF transition period

2017-18 Unaudited Actuals and 2017-18 Adopted Budget MYP Report Increases/(Decreases) to Reserve

Actuals MYP Projection

Budget Cuts Main reason for deficit expenditure projections is the Increasing expenditure trend vs. steady revenue trend LCFF Fully Funded COLA Only Increases Expected

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SLIDE 13

2017-18 All Other Funds

This Table indicates Beginning Fund Balance, Revenue, expenditures, and Ending Fund Balance for all other funds in 2017-18.

Fund Description Beginning Balance Revenue Transfers In Expenditures Transfers Out Ending Balance 10.0 Special Education Pass Through 10,409,152 60,404,295 55,368,008 15,445,439 12.0 Child Development 240,641 16,077,824 16,076,622 241,843 13.0 Cafeteria 5,585,352 13,279,829 13,862,717 5,002,464 20.0 Post Employment Benefits 178,939 2,803

  • 181,742

21.0 Building Fund (GO Bonds) 59,519,824 1,952,449 7,040,229 54,432,045 25.0 Capital Facilities (Dev Fees) 353,603 434,399 139,954 648,048 40.0 Capital Outlay 2,293,682 11,739,465 5,017,247 9,015,901 49.0 Building Fund (Spec Tax Bonds) 23,619,394 96,675 10,703,160 13,012,909 51.0 Bond Interest & Redemption 5,965,848 6,981,440 5,048,333 7,898,955 52.0 Debt Service (Spec Tax Bonds) 11,449,203 6,540,576 2,478,015 15,511,764 56.0 Debt Service (COPs) 848,228 2,478,711 3,124,362 202,576

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SLIDE 14

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 = 60.25% Target Met GANN The GANN limit is a limit on the appropriation of tax revenues of 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 = $125,702,051 Appropriations Subject to GANN Limit = $125,702,051 ICR The Indirect Cost Rate is the amount that can be charged to restricted categorical programs to recover administrative costs. Indirect Charged = $1,735,298 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% Indirect Rate for 17-18 = 7.59% ESMOE Every Child Succeeds (ES) Maintenance of Effort (MOE) Determination. Established to improve the education opportunities for every child. The District must have a minimum of 90% of the prior year expenditures to meet the MOE requirements. PY Expenditures = $192,552,151 90% of PY Exp = $173,296,936 CY Expenditures = $200,520,395 MOE Met

2017-18 Unaudited Actuals Supplemental Forms

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SLIDE 15

Looking Forward

  • Change Continues
  • Enrollment, ADA
  • LCFF Fully Funded
  • COLA only growth ahead
  • Conservative Expenditure
  • 2018-19 First Interim Report coming in

December

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SLIDE 16

Questions?

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SLIDE 17

The Palmdale Aerospace Academy

2017-18 Unaudited Actuals Report

September 4, 2018

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SLIDE 18

TPAA REVENUE SUMMARY 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals (EA) 2018-19 Budget 45- Day Revision** Variance % Change REVENUES LCFF Sources 16,118,590 17,888,551 1,769,961 11.0% Federal Revenue 1,426,783 1,468,221 41,438 2.9% Other State Revenue 3,376,459 3,322,498 (53,961)

  • 1.6%

Other Local Revenue 276,966 279,391 2,425 0.9% Total Revenue 21,198,798 22,958,661 1,759,863 8.3%

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SLIDE 19

TPAA EXPENDITURE SUMMARY 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals (UA)* 2018-19 Budget 45- Day Revision** Variance % Change EXPENDITURES Certificated Total 6,310,595 7,069,592 758,997 12.0% Classified Total 2,653,288 3,072,247 418,959 15.8% Benefits Total 3,237,768 4,297,263 1,059,495 32.7% Books and Supplies 1,776,630 2,083,169 306,539 17.3% Services and Other Operating 5,081,853 5,033,250 (48,603)

  • 1.0%

Capital Outlay 327,189 354,670 27,481 8.4% Other Outgo, IC, & Others 837

  • (837)
  • 100.0%

Total Expenditures 19,388,160 21,910,191 2,522,031 13.0% *From 2017-18 Charter School Unaudited Actuals Financial Report - Alternate Form **From 2018-19 Charter School Budget Report - Alternate Form

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TPAA EFB REPORT 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals 2018-19 Budget 45-Day Revision Total Revenues 21,198,798 22,958,661 Total Expenditures plus Contributions to Restricted Resources and Other 19,388,160 21,910,191 Increase/(Decrease) to Reserve 1,810,638 1,048,470 Fund Balance Beginning Fund Balance* 7,650,147 9,621,918 Ending Fund Balance** 9,460,785 10,670,388 *Beginning fund balance for 2018-19 budget is projected as of the 45-Day revision **Includes net investment in Capital

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SLIDE 21

TPAA ADA and ENROLLMENT

Enrollment 2017-18 2018-19 2019-20 2020-21 Grades TK-3*

  • 408

408 Grades 4-6 256 256 440 440 Grades 7-8 515 527 502 502 Grades 9-12 844 904 941 952 Total Enrollment 1,615 1,687 2,291 2,302 Projected Growth 4% 36% 0% ADA Grades TK-3*

  • 387.60

387.60 Grades 4-6 247.22 243.20 418.00 418.00 Grades 7-8 498.72 500.65 476.90 476.90 Grades 9-12 809.19 858.80 893.95 904.40 Total ADA 1,555.13 1,602.65 2,176.45 2,186.90 Projected Growth 3% 36% 0% *TPAA planning to add TK-5 in FY 2019-20 with total projected additional enrollment of 596

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SLIDE 22

Antelope Valley Learning Academy (AVLA)

2017-18 Unaudited Actuals Report

September 4, 2018

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AVLA REVENUE SUMMARY 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals (EA) 2018-19 Budget Variance % Change REVENUES LCFF Sources 27,002,018 38,491,056 11,489,038 42.5% Federal Revenue 158,719 205,750 47,031 29.6% Other State Revenue 2,071,350 3,236,597 1,165,247 56.3% Other Local Revenue 74,907 1,000 (73,907)

  • 98.7%

Total Revenue 29,306,994 41,934,403 12,627,409 43.1% Source: Form 62

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AVLA EXPENDITURE SUMMARY 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals (EA) 2018-19 Budget Variance % Change EXPENDITURES Certificated Total 9,513,951 14,335,409 4,821,458 50.7% Classified Total 2,973,601 3,994,199 1,020,598 34.3% Benefits Total 3,116,968 6,333,665 3,216,697 103.2% Books and Supplies 1,734,642 2,155,699 421,057 24.3% Services and Other Opera 8,973,425 12,193,862 3,220,437 35.9% Depreciation 172,725 175,050 2,325 1.3% Other Outgo (excl Transf 843,830 1,301,324 457,494 54.2% Other Outgo (Transfers o

  • Total Expenditures

27,329,142 40,489,208 13,160,066 48.2% Source: Form 62

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AVLA EFB REPORT 2017-18 Unaudited Actuals vs 2018-19 Budget

2017-18 Unaudited Actuals 2018-19 Budget Total Revenues 29,306,994 41,934,403 Total Expenditures plus Contributions to Restricted Resources and Other 27,329,142 40,489,208 Increase/(Decrease) to Reserve 1,977,852 1,445,195 Fund Balance Beginning Fund Balance 3,784,748 5,762,601 Ending Fund Balance* 5,762,601 7,207,796 *Includes net investment in Capital

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SLIDE 26

Antelope Valley Learning Academy ADA SUMMARY

ADA 2017-18* 2018-19** 2019-20** 2020-21** Grades TK-3 77.27 104.97 105.77 106.57 Grades 4-6 93.54 127.07 128.04 129.01 Grades 7-8 251.83 342.09 344.71 347.33 Grades 9-12 1,978.68 2,687.88 2,708.48 2,729.08 Total ADA 2,401.32 3,262.01 3,287.00 3,311.99 Projected Growth 36% 1% 1% *From Antelope Valley Learning Academy Unaudited Actuals 2017/18 Narrative **From Antelope Valley Learning Academy Budget 2018/19 Narrative