District 2015-2016 Unaudited Actuals September 14, 2016 1 - - PowerPoint PPT Presentation

Santa Paula Unified School District

2015-2016 Unaudited Actuals

September 14, 2016

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Timeline and Process

• Unaudited Actuals is the 4th and last financial

report prepared for 2015/16

• The Fiscal year ended June 30, 2016
• All accounts, programs are closed in July and

August

• The Unaudited Actuals report must be

submitted to the County Office of Education by September 15th

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SPUSD 2015-16 Unaudited Actuals

2nd Interim Unaudited Difference TOTAL REVENUES 64,268,118 66,243,640 1,975,522 TOTAL EXPENDITURES 64,727,930 62,713,388 (2,014,542) NET CHANGE (459,812) 3,530,251 3,990,063 BEGINNING BALANCE 14,793,325 14,793,325 ENDING BALANCE 14,333,513 18,323,576 3,990,063

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SPUSD 2015-16 Unaudited Actuals

Ending Fund Balance Analysis

Carryover: Total 3,990,063 Restricted Funds Increase:

• 1,107,833

Unrestricted Increase: 2,882,230 Unrestricted Breakdown: Carryover from Spring 2016 Textbook

• rder not received until July:
• 1,100,000

Carryover in designated funds:

• 786,502

Carryover in One-time funds for LCAP Goals

• 584,000

Remaining Miscellaneous Unused funds: 411,728 4

SPUSD 2015-16 Unaudited Actuals Components of Ending Fund Balance

Revolving Cash/Pre-paids 13,874 Committed Funds (Textbooks Spring ’16) 1,100,000 Economic Uncertainties (3%) 1,881,402 Assigned/Designated 3,549,760 Legally Restricted 1,815,110 Undesignated 9,963,431 Total Ending Balance 18,323,576

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SPUSD 2015-16 Unaudited Actuals Carryover: Restricted Funds:

Educator Effectiveness 289,968 Routine Restricted Maintenance 669,991

• Calif. Clean Energy Jobs Act

129,093 Medi-Cal Billing 167,592 Restricted Lottery 243,401 Other Restricted: Donations 282,915 Special Ed: Mental Health Funds 32,150 Total Ending Balance 1,815,110

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Assigned/Designated

• Assigned and Designated are expenditures that are expected

in the future, or designated carryovers in programs:

• Spring ‘17 Textbook order:

$1,000,000

• Medi-Cal Administrative Activities:

$163,347

• One Time Funding – LCAP Goal 1:

$584,000

• SERP (last Payment 2017):

$39,155

• Earned but Unused Vacation Liability:

$381,562

• OPEB: Retiree Earned Benefits:

$527,154

• East Area 1 K-8 start up:

$250,000

• Board Priorities:

$604,542

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Unaudited Actuals GASB Accounting Changes

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New rules implemented for this report require the District to record revenue and expenditures for “On-Behalf” payments and support:

– “STRS” payments made by State of California

• $1,430,922

– “Federal E-rate Program” support for internet and telecommunications

• $496,000

– CNS “Commodities Program”

• $207,399

SPUSD 2015-16 Unaudited Actuals Next Steps:

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• Auditor (Nigro & Nigro)Visits/Testing by

November

• Auditor Report due to VCOE/State by

December 15th

• Board will receive Auditor’s report at a

January Board Meeting

• Director of Budget & Finance will post

carryover revenues and expenditure budgets in the First Interim Report (December 15th)