San Marino Unified School District 2018-19 First Interim Financial - - PowerPoint PPT Presentation

2018-19 First Interim Financial Report Board of Education Meeting December 11, 2018

Presented by: Julie Boucher, Assistant Superintendent, Business Services

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San Marino Unified School District

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Key Revenue Assumptions

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❖CBEDS Student Enrollment ❖Average Daily Attendance (ADA) ❖ Unduplicated Student Count ❖ LCFF Funding ❖ Other State Funding ❖ Federal Funding ❖ Local Funding

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Data Source: SMUSD Website: 10-Year Historical CBEDS Data and 2018-19 CBEDS

Student Enrollment Trends

Key Revenue Assumptions

2018-19 Adopted Budget 2018-19 First Interim Difference CBEDS Enrollment 3,072 2,967 (105) Unduplicated Count 486/15.82% 525/17.69% 39/1.87% Average Daily Attendance 2,993.05 2,887.41 105.64 LCFF Gap Funding 1,466,080 1,656,835 190,755 One-Time Funding 885,000 552,000 (333,000) Parent Donations 684,606 1,428,232 743,626 Schools Foundation 2,000,000 2,114,000 114,000 Parcel Taxes 5,700,000 5,700,000

• Transfers In from

Cash Flow Fund 1,175,000 695,000 (480,000)

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Key Expenditure Assumptions

❖Step and Column Salary Adjustments ❖Benefit Cost Adjustments

• Health Benefit Contributions
• CalSTRS and CalPERS

❖Materials and Supplies ❖Operating Services ❖Equipment/Capital Outlay ❖Transfers In/Out

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Budget Adjustments

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Adjusted LCFF Funding, federal revenues, other state funding, local revenues (donations, contributions, and grants) based on actuals and projections

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Adjusted salaries, and benefits based on actual staffing levels, and step/column placements ❖ Adjusted materials and supplies, operating services and equipment expenditures based on parent donations

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Adjusted Transfer In from the Cash Flow Fund ❖ Adjusted components of Ending Balance

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2018-19 Revenue Adjustments

General Fund 2018-19 Adopted Budget 2018-19 First Interim Difference Increase/ (Decrease) LCFF Funding 25,925,364 26,144,977 219,613 Federal Funding 811,145 976,274 165,129 Other State Revenues 3,187,363 2,856,130 (331,233) Local Revenue 11,550,236 12,341,511 791,275 Total Projected Revenue 41,474,108 42,766,455 1,292,347 Lottery Revenues 607,875 607,875

• Parent/PTA/PTSA Donations

684,606 1,428,232 743,626 Use of Facilities 300,160 241,762 (58,398)

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2018-19 Key Expenditure Adjustments

General Fund 2018-19 Adopted Budget 2018-19 First Interim Difference Certificated Salaries 17,228,457 17,358,651 130,194 Classified Salaries 8,273,296 8,331,148 57,852 Employee Benefits 9,979,256 10,070,889 91,633 Books and Supplies 1,291,544 2,365,050 1,073,506 Operating Services 3,490,972 4,841,401 1,350,429 Equipment/Capital Outlay 625,000 901,242 276,242 Other Outgo 510,175 510,175

• Total Expenditures

41,398,700 44,378,556 2,979,856

STRS and PERS Employer Contributions

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Increases in pension costs are consuming 40% of Prop 98 growth. Future year increases are projected through 2025-26.

Data Sources: LAO Proposition 98 Analysis, Feb 7, 2018.

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2018-19 Ending Balance Adjustments

General Fund 2018-19 Adopted Budget 2018-19 First Interim Difference Beginning Balance (including restricted carry-over) 1,692,675 2,507,783 815,108 Projected Ending Balance 2,927,583 1,575,182 (1,352,401) Reserve for Economic Uncertainties 3% 1,242,426 1,331,822 89,396 Assigned for Carryover 116,319 135,556 19,237 Assigned Gap Funding 1,466,080

• (1,466,080)

Revolving Fund/Stores 102,758 107,804 5,046

Ending Balance History and Projections

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*Projected

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2019-20 Budget Assumptions

Revenues:

• Decrease in LCFF Funding
• No Additional One-time State Funding

Expenditures:

• Step and Column Salary Adjustments
• CalSTRS and CalPERS Increases
• Health Benefit Costs
• Budget Savings/Adjustments

Ending Balance:

• 3% Reserve for Economic Uncertainties

Planning for 2019-20 Budget

❖ Governor’s Proposed State Budget January, 2019 ❖ Assessment/Evaluation of Staffing, Programs and Budgets - Cabinet and Principals Meetings January - June, 2019 ❖ Projected Student Enrollment/ADA February, 2019 ❖ Local Control Accountability Plan Development February - May, 2019 ❖ Second Interim Financial Report March, 2019 ❖ Proposed 2019-20 Budget and Future Year Projections June, 2019

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Balancing the Budget

• Student Enrollment/Average Daily Attendance
• Right Sizing Staffing Levels Based on Enrollment
• Funding Increased Costs
• Exploring Additional Revenue Sources
• Identifying Potential Savings

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Questions and Discussion