2018-19 Second Interim Budget Report Tim Zearley Associate - - PowerPoint PPT Presentation

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2018 19 second interim
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2018-19 Second Interim Budget Report Tim Zearley Associate - - PowerPoint PPT Presentation

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2018-19 Second Interim Budget Report Tim Zearley Associate Superintendent, Business Services March 4, 2019 Presentation Overview Second Interim Budget Update ADA Assumptions Revenue Assumptions Expenditure Assumptions MYP

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2018-19 Second Interim Budget Report

Tim Zearley Associate Superintendent, Business Services March 4, 2019

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Modesto City Schools

Second Interim Budget Update

  • ADA Assumptions
  • Revenue Assumptions
  • Expenditure Assumptions
  • MYP Summary
  • Next Steps
  • Questions

Presentation Overview

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Modesto City Schools

ADA Factors:

  • Change to projected funded ADA since 1st Interim

Elementary +9.57 High School +0.03 Total 9.60

  • Projected enrollment change

2019-20 2020-21

Elementary <232> Flat High School +32 Flat

ADA Assumptions

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Modesto City Schools

ADA Assumptions

13,400.00 13,600.00 13,800.00 14,000.00 14,200.00 14,400.00 14,600.00 14,800.00 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 Elementary High School

ADA Trend by District

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Modesto City Schools

Revenue Assumptions

General Purpose (LCFF) Revenue 82% Federal Revenue 6% State Revenue 11% Local Revenue 1%

Total General Fund Revenues Second Interim Budget 2018-19

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Modesto City Schools

Revenue Assumptions

YEAR COLA Gap Base Increase Supplemental/Concentration Increase Year Over Year 2018/19 3.70% 100% $12.6M $8.6M 2019/20 3.46% 100% $5.7M $2.3M 2020/21 2.86% 100% $5.5M $0.8M

Local Control Funding Formula (LCFF)

At Full Implementation:

  • Annual growth in LCFF funding will be determined

by (1) change in ADA, and (2) the statutory COLA

  • Supplemental and Concentration grant funding is

determined by the UPP

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Modesto City Schools

Revenue Assumptions

Grades ADA Base Grade Span Supp. Conc. TARGET Unduplicated Pupil % 87.77% 87.77%

K-3 6,221.01 $7,459 $776 $1,446 $1,349

$68,616,973

4-6 5,100.04 $7,571 $1,329 $1,241

$51,717,065

7-8 3,151.38 $7,796 $1,369 $1,277

$32,906,345 TOTAL $153,240,383 TIIG Add-On $1,084,014 Transportation Add-On $474,814 18/19 LCFF FUNDING $154,799,211

LCFF - Elementary

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Modesto City Schools

Revenue Assumptions

Grades ADA Base Grade Span Supp. Conc. TARGET Unduplicated Pupil % 65.78% 65.78%

9-12 14,434.80 $9,034 $235 $1,219 $500

$158,609,997 TOTAL $158,609,997 TIIG Add-On $717,582 Transportation Add-On $458,416 18/19 LCFF FUNDING $159,785,995

LCFF – High School

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Modesto City Schools

Other Revenue Factors:

  • Title I, Part A - $2M
  • Carl D. Perkins, Career & Technical Education - $48K
  • Title III, English Learner Student Program - $116K
  • Agriculture Incentive Grant - $35K
  • Bret Harte Fire Insurance Claim - $1.2M
  • Mark Twain Fire Insurance Claim - $110K
  • Career & Technical Education Consortia - $131K

Revenue Assumptions

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Modesto City Schools

Expenditure Assumptions

Certificated Salaries 41% Classified Salaries 14% Benefits 20% Books and Supplies 6% Other Services & Oper. 11% Capital Outlay 3% Other Outgo/Transfer 5%

Combined General Fund Expenditures Second Interim Budget 2018-19

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Modesto City Schools

Expenditure Assumptions (First Interim)

  • 2,000,000

4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 2017/18 2018/19 2019/20 2020/21

Unrestricted Pension Reform Expenses vs New Base Funding

Base Funding Increase Pension Reform Increase Expense

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Modesto City Schools

Expenditure Assumptions (Second Interim)

  • 2,000,000

4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 2017/18 2018/19 2019/20 2020/21

Unrestricted Pension Reform Expenses vs New Base Funding

Base Funding Increase Pension Reform Increase Expense

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Modesto City Schools

Pension Assumptions (First Interim)

PENSION REFORM 2017/18 2018/19 2019/20 2020/21 STRS 14.43% 16.28% 18.13% 19.1% Increase Over Prior Year $3.0M $3.1m $2.0M PERS 15.531% 18.062% 20.7% 23.4% Increase Over Prior Year $800K $1.5M $1.6M Increase over 2017/18 $3.8M $8.5M $12.0M

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Modesto City Schools

Pension Assumptions (Second Interim)

PENSION REFORM 2017/18 2018/19 2019/20 2020/21 STRS 14.43% 16.28% 17.10% 18.10% Increase Over Prior Year $3.0M $1.4M $1.7M PERS 15.531% 18.062% 20.70% 23.40% Increase Over Prior Year $800K $1.5M $1.6M Increase over 2017/18 $3.8M $6.7M $10.0M

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Modesto City Schools

Other Expenditure Factors:

  • One-time approved expenditures are reflected in

2018-19 but removed from subsequent years

  • No increases reflected for pending negotiations

Expenditure Assumptions

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Modesto City Schools

Assumptions reflected in subsequent years:

  • $12M Estimated budget savings annually
  • Step/Column costs of 1.5% year over year
  • Pension increase year over year
  • Removal of 2018/19 onetime expenditures
  • Removal of deferred and carryover funds

MYP Summary

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Modesto City Schools

MYP Summary

Unrestricted Fund Balance 2017/18 2018/19 2019/20 2020/21 Fund Balance $68,784,593 $66,167,415 $57,597,851 $47,977,985 Nonspendable – Stores, Revolving Cash, Prepaid Expenses $1,927,026 $1,500,000 $1,500,000 $1,500,000 Assigned Economic Uncertainties $11,563,364 $11,989,784 $11,781,059 $12,007,178 County Cash FMV Adjustments <$344,721> <$344,721> <$344,721> <$344,721> LCAP Supplemental & Concentration $8,471,571 $11,379,794 $13,720,698 $14,548,260 Carryover Obligation – Misc. $1,395,676 $1,738 $1,738 $1,738 One Time Expenditures $-0- $-0- $250,000 $250,000 Unassigned Balance $45,771,677 $41,640,819 $30,689,077 $20,015,529 Unassigned Reserve Percentage 17.06% 14.86% 10.89% 6.96%

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Modesto City Schools

Items NOT included in projections:

  • Future impacts from Collective Bargaining

Agreements

MYP Summary

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Modesto City Schools

Next Steps

Based on the factors and assumptions included and noted in the Second Interim Budget document, the District is able to propose a Positive Certification

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Modesto City Schools

Questions