PIEDMONT UNIFIED SCHOOL DISTRICT 2014-15 UNAUDITED ACTUALS 2015-16 REVISED BUDGET Board of Education September 9, 2015 1
Acknowledgment • 2014-2015 Unaudited Actuals is based on the reliability of timely and accurate information. This document represents the time and efforts of the Business Services Department. 2
Support Information • The 2014-15 Unaudited Actuals includes the documentation of all actual fiscal transactions of the Piedmont Unified School District and presents the District’s financial position for the period July 1, 2014, through June 30, 2015. The Revised Budget for 2015-16 has been updated to reflect adjustments, specifically to the Beginning Fund Balance per the Ending Fund Balance from the Unaudited Actuals. • The 2015-16 Budget will require more in-depth analysis and further modification once final figures on staffing, benefit modifications, and step & column/longevity calculations have been completed. Staff is planning on presenting to the Board the updated “Preview of the 2015 - 16 First Interim” budget, in October 2015. This will enable the Board and the public to review and comment on the 2015-16 budget projections prior to the official First Interim report filing in December 2015. • Attached is a summary of the 2014-15 Unaudited Actuals for all funds operated by the District. The 2014-15 General Fund ending fund balance as reported on the spreadsheet and the Standardized Account Code Structure (SACS) report is $2,847,160, before specified funding designations. After designations have been made, which include the Reserve for Economic Uncertainties and Restricted Ending Balance, the net Fund Balance is $1,032,574 which will be applied to the 2015-16 Fund Balance. • On each summary spreadsheet, there are three columns: • 2014-15 Estimated Actuals • 2014-15 Unaudited Actuals • 2015-16 Revised Budget (incorporating Ending Fund Balance from 2014-15) 3
General Fund • The General Fund is the most significant of the funds managed because it represents the day-to-day operations of the District. The General Fund includes income from the State and Federal Government, local revenues (including Parcel Tax Measure A, Parent Club contributions, Support Group donations) • The General Fund reflects the District’s priorities to offer a breadth of student program opportunities and providing compensation to attract and retain the most highly qualified personnel possible. • The Board recognizes and is concerned about the reliance on one-time funds in the budget and is grateful to the Piedmont community for its continued support. 4
Unaudited Actuals 9/9/15 General Fund: State revenue increased by $86k. The primary cause Is one-time lottery receipts; Additional funds based on Larger than output of Jackpots, thus increased Distribution to school districts 5
Unaudited Actuals 9/9/15 Total Expenditure savings: $865k • $344k is carryover funds from 2014-15 into 2015-16; these funds are restricted ending balances • Employees’ salaries are based on actual costs. The bulk of the net decrease of approximately $59k in actual expenditures comes from support staff overtime • Employee benefits with lower than actual expenditures of $132k than the Estimated Actuals and the primary savings is CalSTRS assessments. For budgeting purposes, the District must consider every certificated salary dollar is subject to STRS contribution; however, some actual/wages are not STRS creditable but won’t be known until actual salaries are paid out • Post employment benefits show a savings of $75k • Expenditures in Books and Supplies and Service/Operating are considered in tandem and reflect a net decrease of $605k. A $344k has been restricted (first bullet point) for use in 2015-16 and the balance of $261k comes from savings in special education mental health and AB 602 contracted services 6
Unaudited Actuals 9/9/15 The change in Fund Balance from the Estimated Actuals to the Unaudited Actuals is $963k. Of the $963k, $344k is designated as carryover funds from 2014-15 which leaves a net increase of $618k to the General Fund for discretional/flexible spending. Since this is a one-time increase, the amount can be designated to support fund balance in subsequent fiscal years 7
Ending Fund Balance Ending Fund Balance from 2014-15 Unaudited Actuals will become the Beginning Fund Balance of Revised Budget 2015-16 $2,847,160 Reserve for Economic Uncertainty Of 4%: $1,437,443 $344,345 designated as restricted carryover funds to support ongoing program in 2015-16 $2,037,010 as the remaining Reserve Fund Balance for use in 2015-16 8
Adult Education The Adult Ed program continues to offer a complement of formerly State-funded ADA classes (Creative Retirement and Diploma classes) and maintain fee-based classes. The Revised Budget reflects increases, $5k, from the prior year’s ending fund balance. Adult Education continues to have a healthy Fund Balance. Planned changes in administrative assignments will be updated once the State’s new Adult Education Block Grant (AB 104) becomes available and apparent: on-line learning and independent study and an expanded list of fee-based classes based on the community of Piedmont interests and needs. 9
Cafeteria Fund The Cafeteria Fund is the fund through which the Federal milk money income must be accounted and all costs associated with the service for food for students at Piedmont Middle School and Piedmont High School. It is also the fund through which all elementary lunch program funds are collected and dispersed. There are healthy increases, $47k, to the revised 2015-16 Beginning Fund Balance as a result of positive financial operations from 2014-15. 10
Deferred Maintenance The Deferred Maintenance Fund is used to account for major school building repair projects such as roofing, paving, electrical and plumbing. The DM Fund is no longer acknowledged as an operational fund for State Account Code purposes and is permanently part of the LCFF base. However, safe, clean, and functional school facilities are needed in order to support the learning environment. Additionally, compliance requirements do not cease to exist under the Williams settlement program. On an annual basis, the General Fund transfers $190,000 to this Fund. The 2014-15 Unaudited Actuals reflects actual revenue and expenditures remain largely unchanged from the Estimated Actuals. 11
Special Reserve Fund - NODA The NODA fund is established to support the Visual Arts Program in grades 6 through 12. The interest earned on the endowment is budgeted each year and any amount exceeds the base endowment of $100,000 should be granted in the area of visual and performing arts. However, since interest rate is remarkably low, the actual amount in this Fund for 2014-15 is only $99,452. Thus, there are no grants awarded since the base endowment of $100,000 has not been reached. 12
Special Reserve Fund – Parcel Tax This is a special fund established to account for transfers for future use to support Parcel Tax programs. The purpose of this fund is to support programs in the final years of a Parcel Tax Measure. 2015-16 was the first year that there was a transfer to this fund from Measure A, which was approved by the voters in March 2013 for eight years. 13
Building Fund The Building Fund is the fund through which the Seismic Safety Bond Program construction projects were accounted. All the funds have been expended per the Bond language. $25,864 from 2014-15 was sales tax rebate for portables leased in 2006. Part of the money has been spent on Alan Harvey theater ADA accessibility work and other non-structural hazard fixtures. The remaining funds will be spent in 2015-16. 14
State School Facilities Fund This is the fund mandated by the State for the District to account for all State matching funds received to support the seismic improvements and modernization funds received by the Piedmont USD. Expenditures in 2014-15 include two-way communications at PMS/PHS/MHS; shade and heat reduction efforts at elementary school sites; emergency paving and sewer work; storm drain repairs, services (including design, construction management, legal), and fees. 15
Capital Facilities Fund The Capital Facilities is used to account for facilities projects that are not eligible under the Deferred Maintenance Program or are not part of the construction projects funded by the General Obligation Bond program. The 2014-15 Unaudited Actuals included carryover funds of $590k in donations to support capital improvements at Alan Harvey Theater. These funds have been maintained under a different resource code so as to separate revenue and expenditures between AHT, Witter/Becker Field replacement, and other capital projects as they are identified. Expenditures in 2014-15 at AHT include replacement of seats, upgrades to HVAC systems, and new stage overlay. 16
Self Insurance Fund This fund is established to account for funds spent on self-insurance activities such as deductibles for property and liability, and workers compensation. The General Fund transferred $10,000 to this fund and $7,545 was spent in 2014-15 on activities mentioned. 17
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