LONG BEACH UNIFIED SCHOOL DISTRICT 2020-21 BUDGET June 2, 2020 1 - - PowerPoint PPT Presentation

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LONG BEACH UNIFIED SCHOOL DISTRICT 2020-21 BUDGET June 2, 2020 1 - - PowerPoint PPT Presentation

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LONG BEACH UNIFIED SCHOOL DISTRICT 2020-21 BUDGET June 2, 2020 1 CALIFORNIA STATE BUDGET May Revision Adoption of State Budget this month August Revision Personal Income Tax deadline shift Continuing Issues Life of the

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SLIDE 1

LONG BEACH UNIFIED SCHOOL DISTRICT 2020-21 BUDGET

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June 2, 2020

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SLIDE 2

CALIFORNIA STATE BUDGET

  • May Revision
  • Adoption of State Budget this month
  • August Revision
  • Personal Income Tax deadline shift

Continuing Issues Life of the virus Consumer confidence and spending Revival of small and large businesses Federal unemployment benefits Performance of world economy

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SLIDE 3

MAY REVISION

  • Eleven years of economic expansion came

to an abrupt halt this year.

  • CA jobless rate 15.5% in April; likely to

reach 23% when reported for May

  • May Revision based on a $54 billion

shortfall for 2019-20 and 2020-21

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SLIDE 4

2020-21 GOVERNOR’S MAY REVISION

  • 10% reduction in LCFF and categorical programs*
  • Cash deferrals
  • Temporary relief from STRS and PERS increases
  • Commitment to increased special education funding
  • CARES Act funding of $4.4 billion

*Cuts would be reversed if federal aid was available

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SLIDE 5

2020-21 OPERATING REVENUES ($MILLIONS)

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General Fund Unrestricted 691.20 $ General Fund Restricted 197.30 $ Child Development 39.50 $ Adult Education 1.70 $ Cafeteria 33.80 $ 963.50 $

General Fund Unrestricted, $691.20 , 72% General Fund Restricted, $197.30 , 20% Child Development, $39.50 , 4% Adult Education, $1.70 , 0% Cafeteria , $33.80 , 4%

Total: $963.5 million

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SLIDE 6

2020-21 GENERAL FUND REVENUES

($MILLIONS)

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LCFF 663.3 $ Federal Federal 89.7 $ State Other State 114.2 $ Local Local 21.3 $ 888.5 $

LCFF, $663.3 , 75% Federal , $89.7 , 10% Other State, $114.2 , 13% Local, $21.3 , 2%

Total: $888.5 million

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SLIDE 7

LCFF 2012-13 THROUGH 2023-24

($MILLIONS)

2012‐13 487.1 $ 487.1 $ 2013‐14 520.1 $ 520.1 $ 2014‐15 586.9 $ 586.9 $ 2015‐16 664.5 $ 664.5 $ 2016‐17 691.1 $ 691.1 $ 2017‐18 697.9 $ 697.9 $ 2018‐19 730.1 $ 730.1 $ 2019‐20* 735.1 $ 735.1 $ 2020‐21* 663.3 $ 663.3 $ 2021‐22* 646.1 $ 646.1 $ 2022‐23* 633.2 $ 633.2 $ 2023‐24* 620.5 $ 620.5 $

$487.1 $520.1 $586.9 $664.5 $691.1 $697.9 $730.1 $735.1 $663.3 $646.1 $633.2 $620.5

$‐ $100.0 $200.0 $300.0 $400.0 $500.0 $600.0 $700.0 $800.0 2012‐13 2013‐14 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20* 2020‐21* 2021‐22* 2022‐23* 2023‐24*

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*Projected

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SLIDE 8

FEDERAL REVENUES

  • CARES Act funding direct to districts

 Included $20 million in budget

  • $4.4 billion of CARES Act funding

Mitigate learning loss Must be spent by December 2020

  • Title I, II, III programs, Head Start, Child

Nutrition

No known reductions at this time

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SLIDE 9

DEFERRALS RETURN

  • Delay in cash payments to districts (IOU)
  • Rely on cash balances
  • Interfund borrowing
  • Borrow cash short term (Tax and Revenue

Anticipation Notes- TRANS)

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SLIDE 10

EXPENSES

  • All known program expenses
  • Does not include expenses related to

new standards or requirements for reopening of school

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SLIDE 11

2020-21 OPERATING FUNDS EXPENSES

($MILLIONS)

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Total Certificated Salarie 400.1 $ Classifed Salaries 143.1 $ Employee Benefits 282.3 $ Books and Supplies 69.0 $ Services and Other 113.4 $ Capital Outlay 1.7 $ Other Outgo 0.8 $ 1,010.4 $

Certificated Salaries, $400.1 , 40% Classifed Salaries, $143.1 , 14% Employee Benefits, $282.3 , 28% Books and Supplies, $69.0 , 7% Services and Other Operating, $113.4 , 11% Capital Outlay, $1.7 , 0% Other Outgo, $0.8 , 0%

Total: $1,010.4 million

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SLIDE 12

2020-21 GENERAL FUND EXPENSES

($MILLIONS)

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Certificated Salari 384.2 $ Classifed Salaries 121.6 $ Employee Benefit 260.7 $ Books and Supplie 57.3 $ Services and Othe 110.0 $ Capital Outlay 1.3 $ Other Outgo (0.5) $ 934.6 $

Certificated Salaries, $384.2 , 41% Classifed Salaries, $121.6 , 13% Employee Benefits, $260.7 , 28% Books and Supplies, $57.3 , 6% Services and Other Operating, $110.0 , 12% Capital Outlay, $1.3 , 0% Other Outgo, $(0.5), 0%

Total: $934.6 million

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SLIDE 13

THE BOTTOM LINE

  • Unrestricted Ending Balance (Reserve)
  • Serves as a cushion and allows us to be

more strategic in addressing adverse fiscal circumstances.

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SLIDE 14

PROJECTED GENERAL FUND UNRESTRICTED BALANCES

($MILLIONS)

2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 2022‐23 2023‐24 Budget Adoption‐ June 2020 90.20 149.60 169.40 187.90 229.8 $ 263.7 $ 224.4 $ 140.8 $ 26.8 $ (112.7) $ Minimum Required Reserve 15.2 16.6 17.60 18.30 18.8 $ 18.3 $ 18.8 $ 18.3 $ 18.6 $ 18.8 $ 7.6 8.3 8.8 9.15 9.413 9.155 9.4 9.15 9.3 9.4 11.86842 18.0241 19.25 20.535519 24.40922 28.80415 23.86947 15.38962 2.885699 ‐11.9894

90.20 149.60 169.40 187.90 $229.8 $263.7 $224.4 $140.8 $26.8 $(112.7) 15.2 16.6 17.60 18.30 $18.8 $18.3 $18.8 $18.3 $18.6 $18.8 ‐150.00 ‐100.00 ‐50.00 0.00 50.00 100.00 150.00 200.00 250.00 300.00 2014‐15 2015‐16 2016‐17 2017‐18 2018‐19 2019‐20 2020‐21 2021‐22 2022‐23 2023‐24 Budget Adoption‐ June 2020 Minimum Required Reserve

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SLIDE 15

Governor’s Budget

January

May Revision LBUSD Budget Adoption 45 Day Budget Revision First Interim Second Interim Independent Audit Report Unaudited Actuals

May June Aug/Sept December September December

BUDGET AND FINANCIAL REPORTING PROCESS

State Budget Adoption Estimated Actuals

June March June August

August Revision