Material Changes from First Interim Budget Changes in State Revenue - - PowerPoint PPT Presentation
Certifies Districts Ability to Meet Financial Obligations Positive , Qualified, Negative. - Positive Certification The District is able to meet its financial obligations for the current year, and two subsequent years. Material
Certifies District’s Ability to Meet Financial Obligations
Material Changes from First Interim Budget
First Interim Second Interim Approx. Change LCFF Gap Funding 29.56% 29.15% ($435,233)
18,000 18,500 19,000 19,500 20,000 20,500
2010-11 2011-12 2012-13 2013-14 2014-15*
20,362 20,020 19,606 19,265 Adopted: 18,978
First st Interim rim 19,169 69 Second nd Interim rim 19,247 47
17,500 18,000 18,500 19,000 19,500
2010-11 2011-12 2012-13 2013-14 2014-15*
P-1 19,472 P-1 19,165 P-1 18,781 P-1 $18,420 P-1 18,395 P-2 18,683 ,683 P-2 18,462 ,462 P-2 19,114 ,114 P-2 19,404 ,404
Salaries
Special Education Contribution
Textbook Adoption Savings
2015 - 2016 2016-2017 First Interim Second Interim First Interim Second Interim Cost of Living Adjustment (COLA) 2.40% 1.58% 2.60% 2.10% LCFF Gap Funding 20.68% 32.19% 25.48% 23.71% Lottery – Unrestricted $126 $128 $126 $128 Interest Rate 2.80% 2.50% 3.20% 2.80% Consumer Price Index 2.60% 2.10% 2.70% 2.50%
2014-2015 Projected Totals 2015-2016 Projection 2016-2017 Projection REVENUES LCFF State Revenue 125,585,667 130,746,483 133,671,509 Federal Revenue Other State Revenue 4,343,337 6,002,421 2,908,062 Other Local Revenue 3,339,733 1,593,748 1,593,748 Other Sources Contributions
TOTAL REVENUES 114,713,415 116,137,906 114,930,976 EXPENDITURES Certificated Salaries 52,914,969 53,709,694 54,514,324 Classified Salaries 12,894,039 13,144,922 13,144,922 Employee Benefits 27,932,306 30,050,899 32,356,915 Books and Supplies 4,177,366 4,265,091 4,401,699 Services, Other Operating Expenses 12,354,263 12,613,703 12,929,045 Capital Outlay 10,807 12,000 12,000 Other Outgo 6,122,083 6,543,311 6,543,311 Indirect Costs
TOTAL EXPENDITURES 115,034,843 118,967,650 122,728,420 (2,829,744.00) (7,797,444.00) Increase/(Decrease) to Reserve (321,428.00)
First Interim: ($2,389,871) ($6,962,105) ($8,430,393) 2015-2016 LCFF Base Grant First Interim: $129,266,782 Second Interim: $130,746,483 Increase: $1,479,701
First Interim Report: Certificated Salaries: $55,016,691 Classified Salaries: $13,325,543 Net Decrease from 1st Interim: $1,487,618
Other State Revenue: First Interim: $2,888,511 Second Interim: $6,002,421 $3,113,910
2014-2015 Budget 2015-2016 Projection 2016-2017 Projection REVENUES LCFF State Revenue 16,654,047 22,782,783 28,984,963 Federal Revenue 13,899,854 11,236,924 11,236,924 Other State Revenue 2,339,628 1,745,901 1,745,901 Other Local Revenue 13,591,092 12,404,092 12,404,092 Other Sources Contributions 17,866,387 20,281,435 21,004,943 TOTAL REVENUES 66,351,008 68,451,135 75,376,823 EXPENDITURES Certificated Salaries 26,708,933 28,885,362 29,246,429 Classified Salaries 9,458,432 10,808,627 10,970,756 Employee Benefits 14,632,635 16,012,884 16,823,291 Books and Supplies 6,004,780 9,341,921 12,872,400 Services, Other Operating Expenses 7,168,553 5,544,946 5,689,114 Capital Outlay 1,330,061 234,701 234,701 Other Outgo 785,546 470,318 470,318 Indirect Costs 528,673 1,128,500 1,129,350 TOTAL EXPENDITURES 58,157,069 72,427,259 77,436,359 (3,976,124.00) (2,059,536.00) Increase/(Decrease) to Fund Balance (266,605.00) 2014-2015 Budget 2015-2016 Projection 2016-2017 Projection REVENUES LCFF State Revenue 16,283,972 25,786,222 30,717,175 Federal Revenue 14,094,679 11,236,924 11,236,924 Other State Revenue 4,249,008 1,745,901 1,745,901 Other Local Revenue 13,655,239 12,404,092 12,404,092 Other Sources Contributions 18,555,362 22,204,746 23,242,344 TOTAL REVENUES 66,838,260 73,377,885 79,346,436 EXPENDITURES Certificated Salaries 25,441,109 28,638,270 29,053,259 Classified Salaries 9,575,444 10,951,040 11,115,305 Employee Benefits 15,041,413 16,459,818 18,039,614 Books and Supplies 6,142,056 10,341,921 12,872,400 Services, Other Operating Expenses 8,007,703 6,548,385 6,548,385 Capital Outlay 1,398,213 1,234,701 1,234,701 Other Outgo 1,352,191 470,318 470,318 Indirect Costs 611,236 1,128,500 1,129,350 TOTAL EXPENDITURES 67,569,365 75,722,953 80,463,332 (3,976,124.00) (2,059,536.00) Increase/(Decrease) to Fund Balance (266,605.00)
LCFF Supplemental and Concentration Grants at First Interim Report: $16,654,047 $22,782,783 $28,984,963 ($370,075) $3,003,439 $1,732,212
2014-2015 2015-2016 Projection 2016-2017 Budget Projection TOTAL REVENUES (Minus Contributions) 114,713,415 116,137,906 114,930,976 TOTAL EXPENDITURES 115,034,843 118,967,650 122,728,420 Increase/(Decrease) to Reserve (321,428) (2,829,744) (7,797,444) FUND BALANCE Beginning Fund Balance 32,238,255 31,916,826 29,087,081 Ending Fund Balance 31,916,826 29,087,081 21,289,637 Components of Fund Balance: Revolving Cash & Stores Inventory 200,000 200,000 200,000 Assigned - Board Designated 1% 1,826,042 1,947,406 2,031,918 Assigned – LCFF Gap Funding 2,979,416 4,715,392 Assigned – Mandate Reimbursement 3,113,910 3,113,910 Economic Uncertainties – 3% 5,478,126 5,842,218 6,095,752 Unappropriated Amount 24,412,658 15,004,131 5,132,665 Total : 31,916,826 29,087,081 21,289,637
First Interim Report:
($2,389,871) ($6,962,105) ($8,430,393) Second Interim Report ($321,428) ($2,829,744) ($7,797,444) $2,068,443 $4,132,361 $632,949 Net effect of change in Revenues and Expenditures: $6,833,753
First Interim Report:
$14,455,886 Second Interim Report: $21,289,637 Net change in projected Unrestricted Fund Balance $6,833,751
Change continues Charter school pass-through revenues to be
Steps to LCFF target are uncertain Governor’s budget May revision