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3/16/2016
1
Presented to CUSD Board of Trustees and Superintendent Campbell
March 15, 2015
Contents
ObjectivesGeneral Fund ComponentsGeneral Fund RevenuesGeneral Fund ExpendituresGeneral Fund Contributions and TransfersGeneral Fund Summary and Estimated Fund BalanceEstimated Ending Fund Balance (All Funds)Enrollment / Attendance TrendsGeneral Fund Multi-Year ProjectionNext Steps
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Objectives
2015-16 Second Interim Budget
Projected financial activity through June 30th (budget)Actual activity through January 31st
Second Interim Budget Report includes:Detailed Budgets for All Funds Enrollment and ADA TrendsMulti-Year Projection Estimated Cash Flow
Communication, Transparency, and Engagement
Local Control Funding Formula (LCFF) Target
CALCULATE LCFF TARGET
COLA 1.020%
Unduplicated as % of Enrollment 3 yr average 55.98% 55.98% 2015‐16
ADA Base Gr Span Supp Concen TARGET
Grades TK‐3 835.99 7,083 737 876 38 7,301,407
Grades 4‐6 647.50 7,189 805 35 5,198,846
Grades 7‐8 454.32 7,403 829 36 3,756,370
Grades 9‐12 1,017.89 8,578 223 985 43 10,005,334
Subtract NSS ‐ ‐ ‐ ‐
NSS Allowance ‐ ‐
TOTAL BASE 2,955.70 22,670,986 843,114 2,632,639 115,218 26,261,957
Targeted Instructional Improvement Block Grant ‐
Home‐to‐School Transportation 1,337,636
Small School District Bus Replacement Program ‐
LOCAL CONTROL FUNDING FORMULA (LCFF) TARGET 27,599,593
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LCFF Gap CalculationCALCULATE LCFF FLOOR
12‐13 15‐16
Rate ADACurrent year Funded ADA times Base per ADA 5,276.57 2,955.70 15,595,958
Current year Funded ADA times Other RL per ADA 43.94 2,955.70 129,873
Necessary Small School Allowance at 12‐13 rates ‐
2012‐13 Categoricals 3,835,928
2012‐13 Categorical Program Entitlement Rate per ADA * cy ADA ‐ ‐ ‐
Less Fair Share Reduction ‐
Non‐CDE certified New Charter: District PY rate * CY ADA ‐ ‐ ‐
Beginning in 2014‐15, prior year LCFF gap funding per ADA * cy ADA 972.28$ 2,955.70 2,873,768
LOCAL CONTROL FUNDING FORMULA (LCFF) FLOOR 22,435,527
CALCULATE LCFF PHASE‐IN ENTITLEMENT
2015/16LOCAL CONTROL FUNDING FORMULA TARGET 27,599,593
LOCAL CONTROL FUNDING FORMULA FLOOR 22,435,527
Applied Funding Formula: Floor or Target FLOOR
LCFF Need (LCFF Target less LCFF Floor, if positive) 5,164,066
Current Year Gap Funding 51.97% 2,683,765
ECONOMIC RECOVERY PAYMENT ‐
LCFF Entitlement before Minimum State Aid provision 25,119,292
General Fund Revenues
LCFF / Property Tax – 63% of our LCFF revenue is from Property Taxes
Federal – District must follow specific grant guidelines for expending these funds (Title I, Title II, etc.)
Other State – State funds not part of LCFF (Lottery, Restricted Lottery, Special Education, etc.)
Local – Funds received from local sources (interest, rental/fees, donations, etc.)
LCFF, 85%
Federal, 5%
Other State, 7%
Local, 3%
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General Fund Revenue (cont.)
Changes between First and Second Interim include:Increase in LCFF due to estimated Gap rate from 51.52% to 51.97%Increase in Unduplicated Pupil Percentage from 54.47% to 55.98%Increase in Local Revenue due to receiving one-time grants
Bus replacementAgricultural equipment replacement
Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined
LCFF 25,000,108 ‐ 25,000,108 25,119,292 ‐ 25,119,292 119,184 ‐ 119,184
Federal Revenue ‐ 1,395,956 1,395,956 ‐ 1,395,956 1,395,956 ‐ ‐ ‐
State Revenue 2,061,611 122,555 2,184,166 2,059,878 122,555 2,182,433 (1,733) ‐ (1,733)
Local Revenue 247,838 170,546 418,384 556,315 447,448 1,003,763 308,476 276,902 585,378
Total Revenues 27,309,557 1,689,057 28,998,614 27,735,485 1,965,959 29,701,444 425,927 276,902 702,829
2015‐16 First Interim 2015‐16 Second Interim Variance between 1st & 2nd
General Fund Expenditures
75% of our budgeted
expenditures is made up of employees
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General Fund Expenditures (cont.)
Changes between First and Second Interim include:Increase classified salaries and benefits due to one-time CSEA paymentIncrease in Capital Outlay due to the district receiving a bus replacement grant and Agricultural equipment replacement grantDecrease in Other Outgo due to greater amount of debt service being paid out of developer fees
Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined
Certificated Salaries 9,736,908 1,861,161 11,598,069 9,649,950 1,912,883 11,562,833 (86,959) 51,722 (35,237)
Classified Salaries 3,228,158 1,468,364 4,696,522 3,323,216 1,511,131 4,834,347 95,058 42,767 137,825
Benefits 5,174,871 1,277,939 6,452,810 5,248,716 1,348,672 6,597,388 73,845 70,733 144,578
Books and Supplies 1,242,074 1,083,176 2,325,250 1,172,901 1,140,398 2,313,299 (69,173) 57,222 (11,951)
Other Services & Oper. 1,735,859 1,136,925 2,872,784 1,734,744 1,182,208 2,916,951 (1,115) 45,283 44,167
Capital Outlay 1,365,000 52,842 1,417,842 1,730,626 76,892 1,807,518 365,626 24,050 389,676
Other Outgo 592,632 10,000 602,632 492,632 10,000 502,632 (100,000) ‐ (100,000)
Transfer of Indirect (89,023) 34,677 (54,346) (90,104) 35,759 (54,346) (1,081) 1,081 ‐
Total Expenditures 22,986,478 6,925,084 29,911,563 23,262,680 7,217,942 30,480,622 276,201 292,858 569,059
2015‐16 Second Interim Variance between 1st & 2nd2015‐16 First Interim
Expenditures by Activity
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Contributions
Description2015‐16
First Interim2015‐16
Second InterimAgricultural Vocation Ed* 8,982 8,982
BTSA / Induction 31,043 31,043
Restricted Maintenance 851,754 860,046
Special Education 3,755,184 3,762,848
Total Contributions $4,646,962 $4,662,919
2015-16 Summary of General Fund
Unassigned Fund Balance was projected at 5.9%
Unassigned Fund Balance is projected at 7.2%
Description Unrestricted Restricted Combined Unrestricted Restricted Combined
Total Revenues 27,309,557 1,689,057 28,998,614 27,735,485 1,965,959 29,701,444
Total Expenditures 22,986,478 6,925,084 29,911,563 23,262,680 7,217,942 30,480,622
Total Financing Sources/Uses (4,646,962) 4,646,962 ‐ (4,762,918) 4,662,918 (100,000)
Net Surplus / (Deficit) (323,883) (589,065) (912,949) (290,113) (589,065) (879,179)
FUND BALANCE, RESERVES
Beginning Balance 3,094,601 589,065 3,683,666 3,094,601 589,065 3,683,666
Ending Balance 2,770,718 ‐ 2,770,718 2,804,488 ‐ 2,804,488
Nonspendable (Revolving Cash) 20,000 ‐ 20,000 20,000 ‐ 20,000
Prepaid Expenditures ‐ ‐ ‐ ‐ ‐ ‐
Restricted ‐ ‐ ‐ ‐ ‐ ‐
Assigned 999,982 ‐ 999,982 598,232 ‐ 598,232
Unassigned ‐ REU 897,000 ‐ 897,000 914,000 ‐ 914,000
Unassigned ‐ Other 853,736 ‐ 853,736 1,272,256 ‐ 1,272,256
Total ‐ Fund Balance 2,770,718 ‐ 2,770,718 2,804,488 ‐ 2,804,488
2015‐16 First Interim Budget 2015‐16 Second Interim Budget
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Estimated Ending Fund Balance (All Funds)
Audited
Beginning
Fund Balance Revenue Expenditures
Net
Surplus /
(Deficit)
Projected
Ending Fund
Balance
01 General Fund (Unrestricted and Restricted) 3,683,666 29,701,444 30,580,622 (879,178) 2,804,489
12 Child Development 44,284 564,627 567,441 (2,814) 41,470
13 Cafeteria 297,926 1,194,178 1,320,191 (126,013) 171,912
14 Deferred Maintenance 10,615 100,000 110,615 (10,615) ‐
21 Building Fund 1,932,662 ‐ 1,932,662 (1,932,662) ‐
25 Capital Facilities 96,577 300,600 316,000 (15,400) 81,177
35 County School Facilities ‐ ‐ ‐ ‐ ‐
40 Special Reserve Fund Capital Projects 126,863 ‐ 33,516 (33,516) 93,347
51 Bond Interest & Redemption 2,365,453 2,293,768 2,293,768 ‐ 2,365,453
52 Blended Component Debt Service 469,581 ‐ ‐ ‐ 469,581
All Funds Total $9,027,626 $34,154,617 $37,154,815 ($3,000,198) $6,027,428
Fund
-16
-53
3/16/2016
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Weekly Enrollment
Trends(page 8)
2011/12 Actual ∆ CBEDS 2012/13 Actual ∆ CBEDS 2013/14 Actual ∆ CBEDS 2014/15 Actual ∆ CBEDS 2015/16 Actual ∆ CBEDS
7/27/2011 3295 0 3302 8/1/2012 3242 0 3188 7/31/2013 3138 0 3138 7/30/2014 3126 0 3079 7/30/2015 2978 0 2996
8/3/2011 3304 9 8/8/2012 3214 ‐28 8/7/2013 3117 ‐21 8/6/2014 3111 ‐15 8/5/2015 2972 ‐6
8/10/2011 3304 9 8/15/2012 3226 ‐16 8/14/2013 3138 0 8/13/2014 3113 ‐13 8/19/2015 2988 10
8/17/2011 3296 1 8/22/2012 3214 ‐28 8/21/2013 3149 11 8/20/2014 3110 ‐16 8/26/2015 2999 21
8/24/2011 3302 7 P1 8/29/2012 3208 ‐34 P1 8/28/2013 3146 8 P1 8/27/2014 3109 ‐17 P1 9/2/2015 3008 30 P1
8/31/2011 3312 17 3,158.93 9/5/2012 3216 ‐26 3,064.86 9/4/2013 3145 7 3,002.45 9/3/2014 3098 ‐28 2,947.26 9/9/2015 3007 29 2,863.40
9/7/2011 3324 29 9/12/2012 3211 ‐31 9/11/2013 3151 13 9/10/2014 3087 ‐39 9/16/2015 3014 36
9/14/2011 3320 25 P2 9/18/2012 3205 ‐37 P2 9/18/2013 3149 11 P2 9/17/2014 3074 ‐52 P2 9/30/2015 3023 45 P2
9/21/2011 3323 28 3,142.58 9/26/2012 3199 ‐43 3,050.92 9/25/2013 3154 16 2,988.67 9/24/2014 3078 ‐48 2,923.14 10/21/2015 3025 47 ‐
9/28/2011 3321 26 95.52% 10/17/2012 3201 ‐41 95.58% 10/16/2013 3156 18 95.88% 10/1/2014 3078 ‐48 95.19% 10/28/2015 3023 45 ‐
10/19/2011 3317 22 10/24/2012 3205 ‐37 10/23/2013 3155 17 10/22/2014 3072 ‐54 11/4/2015 3022 44
10/26/2011 3314 19 10/31/2012 3206 ‐36 10/30/2013 3155 17 10/29/2014 3081 ‐45 11/12/2015 3014 36
11/2/2011 3311 16 Annual 11/6/2012 3204 ‐38 Annual 11/6/2013 3150 12 Annual 11/5/2014 3079 ‐47 Annual 11/18/2015 3016 38 Annual
11/9/2011 3302 7 3,133.89 11/14/2012 3211 ‐31 3,035.38 11/13/2013 3153 15 2,988.02 11/12/2014 3082 ‐44 2,907.69 12/2/2015 3020 42
11/16/2011 3299 4 11/21/2012 3211 ‐31 11/20/2013 3153 15 11/19/2014 3088 ‐38 12/9/2015 3020 42
11/30/2011 3300 5 11/28/2012 3211 ‐31 11/26/2013 3149 11 11/25/2014 3089 ‐37 12/16/2015 3015 37
12/7/2011 3308 13 12/5/2012 3206 ‐36 12/4/2013 3148 10 12/3/2014 3097 ‐29 1/13/2016 3010 32
12/14/2011 3304 9 12/12/2012 3206 ‐36 12/11/2013 3148 10 12/10/2014 3091 ‐35 1/20/2016 3009 31
1/11/2012 3315 20 12/19/2012 3202 ‐40 12/18/2013 3142 4 12/17/2014 3092 ‐34 1/27/2016 3002 24
1/18/2012 3301 6 1/16/2012 3185 ‐57 1/15/2014 3147 9 1/14/2015 3084 ‐42 2/3/2016 2999 21
1/25/2012 3299 4 1/23/2013 3183 ‐59 1/22/2014 3142 4 1/21/2015 3076 ‐50 2/10/2016 3000 22
2/1/2012 3304 9 1/30/2012 3183 ‐59 1/29/2014 3135 ‐3 1/28/2015 3077 ‐49 2/17/2016 2994 16
2/8/2012 3304 9 2/6/2013 3183 ‐59 2/5/2014 3132 ‐6 2/4/2015 3071 ‐55 2/24/2016 2994 16
2/15/2012 3314 19 2/13/2013 3185 ‐57 2/12/2011 3124 ‐14 2/10/2015 3072 ‐54 3/2/2016 2989 11
2/22/2012 3310 15 2/20/2013 3180 ‐62 2/26/2014 3127 ‐11 2/18/2015 3071 ‐55 3/9/2016 2988 10
2/29/2012 3310 15 2/27/2013 3193 ‐49 3/5/2014 3121 ‐17 2/25/2014 3070 ‐56 ‐
3/7/2012 3296 1 3/6/2013 3189 ‐53 3/12/2014 3119 ‐19 3/4/2015 3076 ‐50 ‐
3/14/2012 3296 1 3/13/2013 3182 ‐60 3/19/2014 3119 ‐19 3/11/2015 3072 ‐54 ‐
4/4/2012 3290 ‐5 3/20/2013 3184 ‐58 4/9/2014 3117 ‐21 4/1/2015 3047 ‐79 ‐
4/11/2012 3290 ‐5 4/10/2013 3190 ‐52 4/16/2014 3117 ‐21 4/8/2015 3054 ‐72 ‐
4/18/2011 3290 ‐5 4/17/2013 3192 ‐50 4/23/2014 3125 ‐13 4/15/2015 3054 ‐72 ‐
4/25/2012 3289 ‐6 4/24/2013 3188 ‐54 4/30/2014 3138 0 4/22/2015 3054 ‐72 ‐
5/2/2012 3288 ‐7 5/1/2013 3181 ‐61 5/7/2014 3139 1 4/29/2015 3053 ‐73 ‐
5/9/2012 3283 ‐12 5/8/2013 3183 ‐59 5/21/2014 3136 ‐2 5/6/2015 3054 ‐72 ‐
5/16/2012 3278 ‐17 5/22/2013 3175 ‐67 5/27/2014 3137 ‐1 5/13/2015 3052 ‐74 ‐
5/23/2012 3279 ‐16 5/29/2013 3173 ‐69 6/4/2014 3129 ‐9 5/20/2015 3045 ‐81 ‐
5/30/2012 3279 ‐16 6/5/2013 3162 ‐80 6/10/2014 3122 ‐16 5/27/2015 3043 ‐83 ‐
6/6/2012 3269 ‐26 6/12/2013 3156 ‐86 6/3/2015 3037 ‐89 ‐
6/10/2015 3026 ‐100
72 0.0219 113 0.0349 34 0.0108 96 0.0307 ‐ ‐ Annual Loss of StudentsAnnual Loss of Student Annual Loss of StudentsAnnual Loss of Students Annual Loss of Students
EVEN ODD EVEN ODD EVEN
Multi-Year Projection Revenue Assumptions
DOF Projected Gap Closure Rates
All other State, Federal and Local revenue will remain flatAssuming declining enrollment and increase COLA (or per student allocation) will offset each other
2% declining enrollment from year to yearProp 30 revenue going away (starting 2017-18)
Based on Governor's 2016/17 Budget ProposalYear 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
COLA 0.85% 1.02% 0.47% 2.13% 2.65% 2.72%Gap 30.16% 51.97% 49.08% 45.34% 6.15% 34.21%
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Multi-Year Projection Expenditure Assumptions
Projected Step & Column Starting 2016-17 ongoing 3% salary schedule increase for CSEA membersStarting 2016-17 ongoing $200 per month per member medical cap increase for CSEA membersSTRS
PERS
Projected Contracts and Services increase
Projected CalPERS Employer Rates
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21
11.771% 11.847% 13.05% 16.60%* 18.20%* 19.90%* 20.40%*
CalSTRS Rates per Education Code Sections 22901.7 and 22950.5
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21
8.88% 10.73% 12.58% 14.43% 16.28% 18.13% 19.10%
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Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined
REVENUES
General Purpose Revenue 25,119,292 ‐ 25,119,292 25,724,449 ‐ 25,724,449 26,013,744 ‐ 26,013,744 25,592,790 ‐ 25,592,790
Federal Revenue ‐ 1,395,956 1,395,956 ‐ 868,401 868,401 ‐ 868,401 868,401 ‐ 868,401 868,401
State Revenue 2,059,878 122,555 2,182,433 506,744 123,055 629,799 504,173 123,055 627,228 501,674 123,055 624,729
Local Revenue 556,315 447,448 1,003,763 253,215 87,710 340,925 253,215 ‐ 253,215 253,215 ‐ 253,215
Total Revenues 27,735,485 1,965,959 29,701,444 26,484,408 1,079,166 27,563,574 26,771,132 991,456 27,762,588 26,347,679 991,456 27,339,135
EXPENDITURES
Certificated Salaries 9,649,950 1,912,883 11,562,833 9,929,358 1,733,424 11,662,782 9,911,441 1,758,363 11,669,804 9,897,541 1,781,631 11,679,173
Classified Salaries 3,323,216 1,511,131 4,834,347 3,371,581 1,583,030 4,954,612 3,439,986 1,618,846 5,058,832 3,511,060 1,654,007 5,165,067
Benefits 5,248,716 1,348,672 6,597,388 5,466,346 1,440,080 6,906,426 5,768,140 1,549,275 7,317,415 6,004,057 1,626,750 7,630,807
Books and Supplies 1,172,901 1,140,398 2,313,299 936,136 393,852 1,329,988 934,468 382,267 1,316,735 933,390 374,563 1,307,952
Other Services & Oper. Exp 1,734,744 1,182,208 2,916,951 1,678,023 811,517 2,489,540 1,687,615 807,603 2,495,218 1,697,302 805,496 2,502,798
Capital Outlay 1,730,626 76,892 1,807,518 23,000 52,842 75,842 23,000 52,842 75,842 23,000 52,842 75,842
Other Outgo 492,632 10,000 502,632 604,481 10,000 614,481 611,120 10,000 621,120 622,649 10,000 632,649
Transfer of Indirect (90,104) 35,759 (54,346) (90,104) 35,759 (54,346) (90,104) 35,759 (54,346) (90,104) 35,759 (54,346)
Total Expenditures 23,262,680 7,217,942 30,480,622 21,918,823 6,060,502 27,979,325 22,285,665 6,214,954 28,500,619 22,598,895 6,341,047 28,939,943
Excess / (Deficiency) 4,472,805 (5,251,983) (779,179) 4,565,585 (4,981,336) (415,751) 4,485,467 (5,223,498) (738,031) 3,748,783 (5,349,591) (1,600,808)
OTHER SOURCES/USES
Transfers In ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
Transfers Out (100,000) ‐ (100,000) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
Net Other Sources (Uses) ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
Contributions to Restricted (4,662,918) 4,662,918 ‐ (4,981,336) 4,981,336 ‐ (5,223,498) 5,223,498 ‐ (5,349,591) 5,349,591 ‐
Total Financing Sources/Uses (4,762,918) 4,662,918 (100,000) (4,981,336) 4,981,336 ‐ (5,223,498) 5,223,498 ‐ (5,349,591) 5,349,591 ‐
Net Surplus / (Deficit) (290,113) (589,065) (879,179) (415,751) ‐ (415,751) (738,031) ‐ (738,031) (1,600,808) ‐ (1,600,808)
FUND BALANCE, RESERVES
Beginning Balance 3,094,601 589,065 3,683,666 2,804,488 ‐ 2,804,488 2,388,737 ‐ 2,388,737 1,650,706 ‐ 1,650,706
Ending Balance 2,804,488 ‐ 2,804,488 2,388,737 ‐ 2,388,737 1,650,706 ‐ 1,650,706 49,898 ‐ 49,898
Nonspendable (Revolving Cash) 20,000 ‐ 20,000 20,000 ‐ 20,000 20,000 ‐ 20,000 20,000 ‐ 20,000
Prepaid Expenditures ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
Restricted ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐
Assigned 598,232 ‐ 598,232 598,232 ‐ 598,232 598,232 ‐ 598,232 598,232 ‐ 598,232
Unassigned ‐ 3% REU 914,000 ‐ 914,000 840,000 ‐ 840,000 856,000 ‐ 856,000 869,000 ‐ 869,000
Unassigned ‐ Other 1,272,256 ‐ 1,272,256 930,505 ‐ 930,505 176,474 ‐ 176,474 (1,437,334) ‐ (1,437,334)
Total ‐ Fund Balance 2,804,488 ‐ 2,804,488 2,388,737 ‐ 2,388,737 1,650,706 ‐ 1,650,706 49,898 ‐ 49,898
Unassigned Reserve Unassigned Reserve 7.17% Unassigned Reserve 6.33% Unassigned Reserve 3.62% Unassigned Reserve -1.96%
2015‐16 2nd Interim Budget 2016‐17 Projected Budget 2017‐18 Projected Budget 2018‐19 Projected Budget
3/16/2016
11
Not in our Multi-Year Projection
Increasing severity of students with disabilities
Curriculum Adoptions
Deferred Maintenance
Contract Negotiations
TechnologyDue to instructional needs and aging infrastructure
Budgetary Unknowns
Free and Reduced rate / unduplicated pupil percentage
Enrollment
Prop 30 expiring? “Votes Split on Extending Proposition 30” – SSC Article, posted 12/4/15
State Revenue unknowns:Sales Taxes Fall Short According to Latest Finance Bulletin – SSC Article, posted 2/26/16January Revenues Fall Below Estimates According to State Controller – SSC Article, posted 2/12/16
3/16/2016
12
Next Steps
Continue to make budget reductions in line with declining enrollment and increasing costs
Continue to seek efficiencies
Continue to pursue and advocate for additional revenue
Continue to monitor enrollment and attendance
Regular Budget Updates
April
Technology (19th)
May
Third Interim Report (10th)
Governor’s May Revision (24th)
June
2016/17 LCAP & Proposed Budget (28th)
Presentation materials provided for distribution at meeting. Full presentation includes verbal commentary and discussion.