May 21, 2020 Regular Board Meeting Newark Unified School District - - PowerPoint PPT Presentation

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May 21, 2020 Regular Board Meeting Newark Unified School District Newark, CA (Alameda County) Required due to QUALIFIED certification of the 2 nd Interim Report---ACOE required: budget report, list of reductions, update on SCAC Covers

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May 21, 2020 Regular Board Meeting Newark Unified School District Newark, CA (Alameda County)

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 Required due to QUALIFIED certification of the 2nd Interim

Report---ACOE required: budget report, list of reductions, update on SCAC

 Covers the period of July 1 through April 30  Snapshot of the budget as of April 30, 2020  Review revenues and expenditures forecasted for the current

year as compared to the Adopted Budget and 2nd Interim.

 Includes a multi-year projection (MYP) for the two

subsequent years 2020-21 and 2021-22

 No Certification Required----FHRA  Submit to ACOE, CDE and State Controller by June 1, 2020

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 Increase in fund balance $566,723  Additional revenues from prior years federal MAA (Medi-Cal

Administrative Activities) reimbursements $428K—offset SpEd contribution

 Reduced expenditures in utilities and substitute costs

Change in Fund Balance- Unrestricted 3rd Interim 2nd Interim Change Revenues 46,810,662 46,289,029 521,633 Expenditures 47,076,989 47,122,079 (45,090) Net Surplus/(Deficit) (266,327) (833,050) 566,723 Beginning Fund Balance 4,471,801 4,471,801 Net Surplus/(Deficit) (266,327) (833,050) 566,723 Ending Fund Balance 4,205,474 3,638,751 566,723

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 Any potential savings in unspent dollars will

be needed to backfill against next year’s anticipated reduction in State funding

 Additional costs due to COVID-19 pandemic

Extra time compensation for “essential” classified

employees

Cleaning, disinfecting schools
Virtual graduations
Food service costs
Distance learning services, materials, supplies and

resources

Masks, gloves, disinfectants, hand sanitizers
Facilities modifications

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 ASSUMPTIONS

COLA (LCFF) 3.26% 0.00% 0.00% STRS 17.10% 18.40% 18.10% Change in STRS rate from PY 1.30%

0.30%

PERS 19.721% 22.80% 24.90% Change in PERS rate from PY 3.08% 2.10% Lottery per ADA - Unrestricted $153 $153 $153 Restricted $54 $54 $54 Step & Column - Certificated 1.69% 1.69% 1.69% Step & Column- Classified 1.19% 1.19% 1.19% Total Benefits - Certificated 23.51% 24.81% 24.51% Total Benefits- Classified 32.331% 35.41% 37.51% H&W increase 2.00% 2.00% Salary increase- Certificated 1.50% 1.00% 1.75% Salary increase - Classified 0.00% 0.00% 0.00% Budget Reductions- Resolution 2158 700,000 1,520,000 1,620,000 Budget Reductions- Resolution 2061 700,000 2,431,000

Enrollment

5,631 5,600 5,574 P-2 ADA 5,477 5,426 5,401 Funded ADA (LCFF) 5,556 5,477 5,426

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MYP General Fund Unrestricted 2019-20 2020-21 2021-22 Total Change in Fund Balance & Reserves Revenues 46,810,662 44,692,558 44,347,274 Expenditures 47,076,989 45,840,776 46,438,534 Net Surplus/(Deficit) (266,327) (1,148,218) (2,091,259) (3,505,805) Fund Balance Beginning Fund Balance 4,471,801 4,205,474 3,057,256 Net Surplus/(Deficit) (266,327) (1,148,218) (2,091,259) Ending Fund Balance- Unrestricted 4,205,474 3,057,256 965,996 (3,505,805) Reserves Reserve for NTA increase-retro 466,000 Reserve for Economic Uncertainty 3,739,474 3,057,256 965,996 Fund 17 Special Reserves 2,261,198 2,261,198 2,261,198 Total Reserves Available 6,000,672 5,318,454 3,227,194 (3,505,805) Minimum Required-3% of Total Expenditures (Unrestricted & Restricted) 2,036,690 1,967,671 1,992,966 Minimum Met Yes Yes Yes

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 0% COLA  10% cut to LCFF  STRS and PERS Rates decrease  Cash Deferrals

June 2020 to July 2020 $5M
April, May, June 2021 to July 2021-$15M

 The CARES Act/Federal Funding  Special Ed Funding  Flexibility/Local Relief Measures  Changes to LCAP- due 12/15/20  More info at June 4 Board Meeting

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 Current year deficit in unrestricted funds is $266K (an

improvement of $566K since 2nd Interim).

 Total deficit this year and next two years estimated at $3.5

Million in unrestricted funds.

 Assumptions in the MYP include over $5.5 Million in budget

reductions over the next two years.

 With 0% COLA and declining enrollment, LCFF revenues

projected to decrease $3.7 Million over the next two years compared to 2nd Interim estimates.

 School consolidation and closures included in budget balancing

plan. (If not done, then other reductions will be needed.)

 Next year’s budget to be presented to Board in June.

Anticipate more reductions
More details to come from May Revise

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1st Interim (December) 2nd Interim (March) 3rd Interim (May) (If Qualified) Proposed Budget (June) Year End Unaudited Actuals (September)

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