FREMONT UNIFIED S C H O O L D I S T R I C T Unaudited Actual - - PowerPoint PPT Presentation
FREMONT UNIFIED S C H O O L D I S T R I C T Unaudited Actual Financial Report for 2018-2019 Division of Business Services September 11, 2019 1 Overview Education Code section 42100(a) states that: On or before September 15, the
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– On or before September 15, the governing board of each school district shall approve, in a format prescribed by the Superintendent of Public Instruction, an annual statement of all receipts and expenditures of the district for the preceding fiscal year and shall file the statement, along with the statement received pursuant to subdivision (b), with the county superintendent of schools.
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Adopted Budget First Interim Budget Second Interim Budget Estimated Actual Unaudited Actual Increase/ (Decrease) (a) (b) (c) (d) (e) (f=e‐d) Revenues $371.2 $382.3 $384.9 $401.4 $403.5 $2.1 Less: Expenditures 370.9 393.3 396.8 411.0 397.2 (13.8) = Surplus/ (Deficit) $0.3 ($11.0) ($11.9) ($9.6) $6.3 $15.9 Add: Beginning Fund Balance 25.4 30.3 30.3 30.3 30.3 0.0 = Ending Fund Balance $25.7 $19.3 $18.4 $20.7 $36.6 $15.9 Less: Designations 14.6 7.5 9.4 3.0 16.0 13.0 = Reserve ($) $11.1 $11.8 $9.0 $17.7 $20.6 $2.9 = Reserve (%) 3.00% 3.00% 2.28% 4.30% 5.19% 0.89%
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Revenues Amount (in Millions) Decrease in Revenue from LCFF Sources (ADA and Prior Year Adjustment) ($1.31) Net Decrease in Federal Revenues (0.04) Medical Administrative Activities ($0.06) Other Federal Revenues 0.02 Net Increase in State Revenues 0.26 One‐Time Discretionary (0.22) Lottery‐Unrestricted 0.44 Other State Revenues 0.04 Net Increase in Local Revenues 1.14 Leases and Rentals 0.30 Interest Income 0.56 Other Local Revenues 0.28
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Revenues Amount (in Millions) Net Savings due to Transfers In $0.02 Close State School Building Lease‐Purchase Fund (Fund 30) ‐Interest $0.02 Increase Cost in Contributions (2.31) Special Education Programs (1.97) Routine Restricted Maintenance Fund (1.12) Supplemental Grant 0.85 Parcel Tax (0.06) Other Categorical Programs (0.01) Net Increase/(Decrease) in Revenues ($2.24)
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Expenditures Amount (in Millions) Net Savings in Salaries and Benefits due to vacancies $3.81 Net Savings in Books and Supplies 0.46 Unspent School and Department budgets $0.46 Net Savings in Services and Other Operating Expenditures 0.73 Software and Licenses 0.21 Utilities 0.15 Home to School Transportation 0.35 Unspent School and Department budgets 0.02 Net Savings in Capital Outlay 0.20 Technology Equipment Upgrade 0.18 Unspent School and Department budgets 0.02
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Expenditures Amount (in Millions) Increase Cost due to Indirect Cost not received ($0.12) Net Increase in cost due to Transfers Out (0.01) Decrease contribution to Child Development (Cal‐SAFE) $0.10 Increase contribution to Child Nutrition Program (0.11) Net Savings in Expenditures $5.07 Net Increase/(Decrease) in Fund Balance $2.83
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Unrestricted General Fund Supplemental Grant Parcel Tax Special Education Routine Restricted Maintenance Categorical Programs Total General Fund Revenues $319.2 $15.8 $4.4 $31.6 $0.0 $32.5 $403.5 Less: Expenditures 252.9 15.1 5.5 80.7 10.5 32.5 397.2 Contribution (61.9) (0.8) 1.1 49.1 11.9 [1] 0.5 0.0 = Surplus/ (Deficit) $4.4 ($0.1) $0.0 $0.0 $1.4 $0.5 $6.3 Add: Beginning Fund Balance 18.6 0.1 0.0 0.4 0.0 11.2 30.3 = Ending Fund Balance $23.0 $0.0 $0.0 $0.4 $1.4 $11.7 $36.6 Less: Designations 2.4 0.0 0.0 0.4 1.4 11.7 16.0 = Reserve ($) $20.6 $0.0 $0.0 $0.0 $0.0 $0.0 $20.6 = Reserve (%) 5.19% 0.0% 0.0% 0.0% 0.0% 0.0% 5.19%
[1] Late change in calculation of 3% required Routine Restricted Maintenance contribution.
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Fiscal Year Estimated Actual ($) Unaudited Actual ($) Variance ($) Estimated Actual (%) Unaudited Actual (%) Variance (%) 2014‐15 23,869,638 22,627,619 (1,242,019) 8.12% 7.81% (0.31%) 2015‐16 17,523,901 15,793,476 (1,730,425) 5.32% 4.91% (0.41%) 2016‐17 8,801,200 7,108,978 (1,692,222) 2.41% 2.00% (0.41%) 2017‐18 10,886,157 11,247,432 361,275 2.99% 3.00% 0.01% 2018‐19 17,690,659 20,625,451 2,934,792 4.30% 5.19% 0.89% Average [1] $1,592,147 0.41%
[1] Absolute Value
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Beginning Balance Revenues Expenditures Ending Balance (a) (b) (c) (d=a+b‐c) Special Education Pass‐Through (Fund 10) 0.0 12.2 12.2 0.0 Adult Education (Fund 11) 2.8 4.7 5.4 2.1 Child Development (Fund 12) 0.4 1.7 1.6 0.5 Cafeteria (Fund 13) 0.1 6.7 [1] 6.7 0.1 Building Fund (Fund 21) 144.0 130.5 89.2 185.3 Capital Facilities (Fund 25) 38.2 5.5 9.8 33.9
Note: Details of Other Funds are listed on pages 57‐99 of the Unaudited Actual Financial Report. [1] includes transfer of $0.7 million from one‐time discretionary fund (General Fund) to cover its budget deficit.
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Beginning Balance Revenues Expenditures Ending Balance (a) (b) (c) (d=a+b‐c) State School Building Lease‐Purchase (Fund 30) $0.0 $0.0 $0.0 $0.0 County School Facility (Fund 35) 0.0 3.7 3.7 0.0 Special Reserve for Capital Outlay Projects (Fund 40) 30.4 1.3 15.9 15.8 Bond Interest and Redemption (Fund 51) 33.3 46.2 40.3 39.2 Self‐Insurance (Fund 67) 0.0 0.5 0.5 0.0
Note: Details of Other Funds are listed on pages 57‐99 of the Unaudited Actual Financial Report.
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Beginning Balance Revenues Expenditures Ending Balance (a) (b) (c) (d=a+b‐c) Charter School‐Circle of Independent Learning (Fund 09) $1.2 $3.8 $3.6 $1.4
Note: Circle of Independent Learning (COIL) contracted FUSD to provide business and other services necessary to the operation of the charter school.
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Adoption of 2019-20 Budget – June 26, 2019 State Budget Adoption – June 27, 2019 45-day Budget Revision – July 31, 2019