Budget Update: Unaudited Actual Results for 2018-19 Marysville Joint Unified School District September 10, 2019
July We Are Adopted Here! LCAP & Budget (2019-20) Adopt Unaudited LCAP & June Actual September Budget Results for 2018-19 (2020-21) 1st May LCAP Interim May December Revise Financial Report Governor’s Preliminary Budget April LCAP/Budget January Proposal 2 nd Interim Financial Report March
Total Unrestricted and Restricted 2018-19 Estimated 2018-19 Unaudited Variance Actuals Actuals $million $ 33.8 $ 33.8 $ 0.0 Beginning Balance REVENUES $ 100.9 $100.3 ($0.6) LCFF Sources 9.1 7.4 (1.7) Federal Revenue 11.6 11.2 (0.4) State Revenue 4.6 4.9 0.3 Local Revenue $126.2 $123.8 ($2.4) Total Revenue EXPENDITURES $ 45.1 $ 45.1 $ 0.0 Certificated Salaries 18.6 19.5 1.0 Classified Salaries 27.7 27.4 (0.4) Benefits 9.7 6.0 (3.7) Books and Supplies 15.7 13.0 (2.7) Other Services & Oper. Expenses 5.2 3.4 (1.8) Capital Outlay 7.5 8.6 1.1 Other Outgo 7xxx $129.5 $123.0 ($ 6.5) Total Expenditures* ($ 3.3) $ 0.8 $ 4.1 Excess / (Deficiency) $ 30.5 $ 34.6 $ 4.1 Ending Balance
2018-19 Unaudited Actuals Expenditures Capital Outlay 3% Other Outgo 7xxx 7% Other Services & Oper. Expenses Certificated Salaries 10% Books and 37% Supplies 5% Benefits 22% Classified Salaries 16%
The $4.1m Total Variance Unrestricted - $2.4 million • Carryover for Targeted Allocations: (0003 & 0004 Resources): $1,000,000 • One-Time Projects that are in progress (yet to be completed): $1,200,000 • Site Discretionary (Lottery): $800,000 2018-19 Cost of 2% Retro and 2% One-Time Off Schedule Payment: • ($900,000) • Revenue Projections: ($400,000) • Contributions to RRMA & Special Education Savings: $700,000 Restricted - $1.6 million • Classified Employee Professional Develop: $70,000 • State SB70 Mental Health: $300,000 • Prop. 20 Instructional Materials: $500,000 • Title IV Student Enrichment Program: $325,000 • Miscellaneous Local Revenue (TUPE & MAA): $80,000 • Site Donations and Local Grants: $325,000
Total Ending General Fund Balance June 30, 2019 2018-19 Unaudited Actuals Audit Adjustment (OPEB Savings) $ 2,715,549 Revolving Cash 30,000 Stores 230,616 Restricted Balances: 4,415,947 Classified Employees Prof Develop 69,921 Lottery Instructional Materials 2,422,844 Low Performing Students Block Grant 323,679 Medi-Cal Billing 404,691 SB70 State Ed Services Mental Health 693,495 Medi-Cal Grants 194,387 Site Donations and Other Local Grants 303,957 Homeless Children & Youth Yuba 2,973 Reserve for Economic Uncertainty (3.0%) 3,733,467 Other Assignments: 6,401,605 Targeted Allocation $ 1,523,910 Facilities Projects 4,295,205 Site Discretionary Carryover 582,490 Unassigned/Unappropriated 17,055,545 Total Ending General Fund Balance 6/30/19 $34,582,729
General Fund Ending Fund Balance History $40.0 In Millions ($) $35.0 $34.6 $31.1 $30.0 29.0 $23.6 $25.0 $20.0 $14.5 $17.1 $13.2 $15.4 $15.0 $11.3 $11.0 $14.5 $10.0 $12.0 $5.0 $5.6 $5.9 $5.4 $5.0 $0.0 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Total Unassigned/Unappropriated
Conclusions • VARIANCE = $4.1 TOTAL – Most of this money is earmarked (carried over) for spending in 2019-20 ($2.4 Million Unrestricted; $1.6 Million w/ Restricted) • Current 2019-20 Adopted Budget reflects deficit spending • Future forecast less optimistic – LCFF fully funded – No new money – Uncertain economy – Added reserve largely due to one-time monies and carryover allocations – Additional PERS / STRS rates: 2019-20 2020-21 2021-22 2022-23 CalPERS 19.71% 23.60% 24.90% 25.70% CALSTRS 18.13% 19.10% 19.10% 20.25% max. – Certificates of Participation (COPS) payments of $2.8M due to begin in 2023 – Anticipated greater Special Education Costs
July We Are Adopted Here! LCAP & Budget (2019-20) Adopt Unaudited LCAP & June Actual September Budget Results for 2018-19 (2020-21) 1st May LCAP Interim May December Revise Financial Report Governor’s Preliminary Budget April LCAP/Budget January Proposal 2 nd Interim Financial Report March
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