Amador County Office of Education 2020 21 Annual Budget Adoption - - PDF document

6/24/2020

Amador County Office of Education 2020‐21 Annual Budget Adoption

June 24, 2020

Jared Critchfield Assistant Superintendent, Business Services

• Business office

– Budget development and monitoring, accounting, payroll, purchasing, cash

handling, facilities, etc.

• External Audit

– Annual audit report is presented each January

• Board of Trustees

– Budget review and approval process – Certification for each interim report

• Fiscal Crisis and Management AssistanceTeam (FCMAT)

– Multi‐year Projections and Fiscal Health Risk Analysis studies complete with the

reports posted on the website

• California Department of Education (CDE)

– Fiscal oversight including approval of annual budget adoption

Budget Monitoring and Accountability

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Revenue Components Comparison

Federal, $1,183,837 , 9% State, $4,274,581 , 31% Local, $5,734,700 , 42% LCFF, $2,470,971 , 18%

2019‐20 Estimated Actuals

Federal State Local LCFF

Federal, $786,589 , 12% State, $2,595,219 , 38% Local , $1,613,530 , 24% LCFF, $1,791,467 , 26%

2020‐21 Budget

Federal State Local LCFF

Operating Expenditure Components Comparison

Certificated Salaries, $4,844,624 , 36% Classified Salaries, $2,246,349 , 17% Employee Benefits, $3,793,043 , 28% Books and Supplies, $265,088 , 2% Service & Other Operating, $2,249,302 , 17% Other Outgo, 30079, 0%

2019‐20 Estimated Actuals

Certificated Salaries Classified Salaries Employee Benefits Books and Supplies Service & Other Operating Other Outgo

Certificated Salaries, $2,460,835 , 36% Classified Salaries, $955,233 , 14% Employee Benefits, $1,430,542 , 21% Books and Supplies, $67,107 , 1% Services & Other Operating , $1,612,827 , 24% Other Outgo, $232,750 , 4%

2020‐21 Budget

Certificated Salaries Classified Salaries Employee Benefits Books and Supplies Services & Other Operating Other Outgo

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County Office 3‐year Outlook

Multi‐year Projection

2020‐21 2021‐22 2022‐23

Revenue $6,799,788 $6,703,080 $6,620,138 Expenditures $6,759,294 $6,831,167 $6,800,228 Ending Fund Balance $1,119,465 $991,378 $811,288 Reserve for Economic Uncertainties $700,956 $571,869 $390,279 Reserve Percentage 10.37% 8.37% 5.74% Reserve Requirement (4%) $270,372 $273,247 $272,009

‐ The County Office is expected to meet the state reserve requirement at the end of the fiscal year 2020‐21 with a projected decrease to reserves in 2021‐22 and 2022‐23 ‐ This projection includes the financial impact of the Special Education transfer ‐ These are current projections with a multitude of factors that could change the

• utlook for the coming years including changes to the current budget from the state

legislature

ACOE Ending Fund Balance

$439,956 $416,646 $471,095 $503,851 $502 $290,572 $659,600 $700,956 $571,869 $390,279 $812,290 $271,349 $231,775 $57,426 $456,460 $377,306 $446,160 $718,709 $453,855 $465,607 $323,510 $323,510 $323,509 $323,509 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 2022‐23

General Fund Year by Year Comparison

Economic Uncertainties General Reserve Designated Projected Projected Projected

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• Continued fiscal discipline and right‐sizing to ensure the county
• ffice does not re‐enter a cycle of deficit spending
• Special Education transfer impacts to budget will be closely

monitored

• Budget impacts due to the COVID19 Pandemic will continue to be

closely monitored

• Continued high levels of engagement from the board in fiscal

matters

• Potential 45‐day Budget Revision for board approval

Moving forward

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