September 14, 2010William C. Young

Assistant Superintendent – Business Services

POSTED at www.oceanviewsd.org

California State Budget Update Federal Jobs Fund VCOE 2010-2011 Budget Review Unaudited Overview What’s Next?

Total Revenue = $ 19,851,614.21

General Fund Expenditures by ObjectTotal Expenditures = $ 20,080,701.46

Fund 01, Form 01 Overview continuedPage 251 of the board agenda

as of June 8, 2010 as of June 8, 2010 as of June 8, 20102007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013Audited Audited UNAUDITED BUDGET MYP MYP

Revenues 16,778,749$ 16,173,051$ 14,936,575$ 15,004,650$ 14,726,485$ 14,772,481$ Expenditures (15,232,217)$ (14,854,492)$ (13,475,815)$ (15,255,947)$ (14,866,574)$ (15,119,084)$ Other Sources/Uses (1,565,855)$ (345,999)$ (1,206,984)$ (1,107,605)$ (1,350,491)$ (1,350,491)$ Net Increase (Decrease) (19,322)$ 972,560$ 253,776$ (1,358,902)$ (1,490,580)$ (1,697,094)$ Beginning Fund Balance 3,312,805$ 3,290,228$ 4,209,038$ 4,462,814$ 3,100,658$ 1,556,328$ Ending Fund Balance 3,290,228$ 4,209,038$ 4,462,814$ 3,100,658$ 1,556,328$ (140,766)$

*1 month payroll ~ $1.65 million** will require $785,750 to close gap in 2012-2013 and achieve 3% minimum reserve

Monitor cash flow weekly (internal borrowing)◦ Without a state budget cash is withheld for Child

Development and Cafeteria Funds Monitor expenses (group effort)

◦ As discussed, we are facing difficult economic impacts, it will take all stakeholders to prevent insolvency

Monitor attendance (group effort)◦ Student ADA is the largest Revenue source

Adjust district budget as necessary after state adopts/revises budget

Reexamine projects and program goals (+/-) Monitor encroachment (Transportation, Special

Education, and Class Size Reduction) External independent audit (December 2010)