2016 ‐ 17 Unaudited Actuals September 11, 2017 Presenter: Tim Zearley Associate Superintendent, Business Services/CBO
Unrestricted Estimated Actuals Unaudited Actuals Difference +/- (Sept) (June) Beginning Fund Balance $61,313,680 $61,313,680 Ending Balance, $59,141,057 $74,411,665 $15,270,608 June 30, 2017 Net Increase/Decrease <$2,172,623> $13,097,984 $15,270,608 Stores, Revolving Cash, $1,500,000 $1,715,312 <$215,312> Prepaid Expenditures Economic Uncertainty $11,285,329 $11,274,812 $10,517 Assigned $452,814 $2,756,874 <$2,304,060> Unassigned Balance $45,902,914 $58,664,667 $12,761,753 2
Unrestricted Estimated Actuals Unaudited Actuals Difference +/- (June) (Sept) Revenues $299,030,529 $296,157,299 <$2,873,230> Major factors of revenue difference: <$3.8M> Change in the Gap percentage and ADA Adjustment based on 2016/17 P2 $0.3M Unrestricted Lottery $0.1M State Testing Reimbursements $0.1M Rebates – Utilities and Visa cards $0.4M Interest Income $0.2M Excess State Teachers Retirement System (STRS) $0.2M Student AP Testing Fees <$0.6M> Investments $0.2M Misc. Local Revenue Dollars are rounded 3
Unrestricted Estimated Actuals Unaudited Actuals Difference +/- (June) (Sept) Expenditures $259,636,827 $256,489,057 <$3,147,770> Major factors of expenditure difference: $ 4.3M additional savings in salaries and benefits $ 0.8M additional savings in supplies, services and operating $ 4.5M additional savings in services and other operating services $ 2.4M additional savings in capital outlay $ 1.9M reduced County Transfer Due to Gap Percentage <$10.7M> recording of Capital Lease Agreement Dollars are rounded 4
Unrestricted Estimated Actuals Unaudited Actuals Difference +/- (June) (Sept) Other <$35,249,597> <$20,343,572> $14,906,025 Sources/Uses Major factors of other sources/uses difference: $10.7M recording of Capital Lease Proceeds $ 2.7M reduction in Special Education Contribution $ 1.6M Special Reserve Transfer for English Language Arts Adoption Materials Dollars are rounded 5
2017/18 Budget Changes Since Adoption – Local Control Funding Formula Adjustments – <$0.4M> • Gap closure reduced from 43.97% to 43.19% – Elementary = <$74K> – High School = <$73K> • ADA Adjustment based on P2 – Elementary Increase 45.12 = $73K – High School Decrease in Community Day School 288.61 = <$2.2M> – One-Time Mandate Reimbursement of $147/ADA – $4.2M – Reduction in Estimated Charter In-Lieu Transfer – <$0.2M> – Decrease County Transfer for Community Day School – <$2.2M> 6
2017/18 Budget Changes Since Adoption – Reduced Deferred Maintenance Transfer from Unrestricted – $2.0M – Reduced Contribution to Routine Restricted Maintenance – $2.2M – Reduced Contribution to Special Education due to Mental Health Carryover – $1.4M – Reduced Contribution to Special Education due to Estimated Savings – $2.3M – Incorporate Additional Estimated Savings – <$2.7M> – Addition of One-time Unrestricted Carryover Funds – $2M 7
2017/18 Changes to Assigned Reserve – Fair Market Value Adjustment – <$580K> – Increase in Approved Carryover – $766K – Estimated 2016/17 Impact from Collective Bargaining Agreements Approved by the Board 8/28/2017 – $16.6M 8
Summary At this time, the 2016/17 unaudited actual documents are recommended for approval. 9
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