Cotati-Rohnert Park USD 2017-18 Adopted Budget
Top Facts about the 2017-18 Budget Inc. Third positive budget in a row! 1. Enrollment and ADA have been projected conservatively. 2. Waiting for details about the final state budget. 3. Changes will be needed. 4.
Projected District Enrollment Less: County Funded District ETK CBEDS Programs Total Change 2014-15 Actual 5,868 n/a 5,868 42 5,910 80 2015-16 Actual 5,897 n/a 5,897 45 5,942 32 2016-17 Actual 5,874 53 5,821 32 5,853 -89 2017-18 Budget 5,885 60 5,825 32 5,857 4 2018-19 Projected 5,920 66 5,854 32 5,886 29 2019-20 Projected 5,938 72 5,866 32 5,898 12 Forecast uses a conservative cohort projection--very modest growth in all years We have had some enrollment from new housing in University District
Projected Average Daily Attendance (ADA) County P-2 District Programs Total Change 2014-15 Actual 5,575 45 5,620 -3 2015-16 Actual 5,640 45 5,685 65 2016-17 Actual 5,556 29 5,585 -100 2017-18 Budget 5,563 29 5,592 7 2018-19 Projected 5,591 29 5,620 27 2019-20 Projected 5,602 29 5,631 12 Forecast is very conservative Used 95% ADA to enrollment ratio Average for last three years is 95.3% ADA growth in two subsequent years due only to increased enrollment
District Revenues for 2017-18 Net Change 2016-17 2017-18 17-18 vs. Estimated Adopted 16-17 Actuals Budget Revenues: LCFF Revenue Sources 49,087,700 49,703,057 1.3% Federal 2,652,441 2,205,517 -16.8% Other State 5,632,380 4,948,700 -12.1% Other Local 6,040,712 4,614,292 -23.6% Total Revenues 63,413,233 61,471,569 -3.1%
2017-18 Adopted Budget General Fund Projection 16-17 Estimated 17-18 Budget Difference Total Revenue 63,413,233 61,471,569 -1,941,664 Expenditures: Certificated Salaries 24,827,451 24,635,730 -191,721 Classified Salaries 6,887,613 6,962,856 75,243 STRS and PERS 5,757,984 6,368,239 610,255 Health Benefits: Actives 9,197,938 9,607,065 409,127 Health Benefits: Retirees 968,740 785,947 -182,793 Other Employee Benefits 1,966,848 1,687,364 -279,484 Books & Supplies 1,733,962 1,190,255 -543,707 Services & Op. Expenditures, Other 13,012,832 10,928,743 -2,084,089 Net Increase (Decrease) -940,135 -694,630 -245,505 Beginning Balance 2,997,588 2,057,453 -940,135 Ending Balance 2,057,453 1,362,823 -694,630
Budget Highlights for 2017-18 Additional one-time mandate backlog payment $813,000, down from $1.2 million in 2016-17 Increased retirement contributions for both STRS and PERS • CalSTRS 14.43%, up from 12.58% in 2016-17 • CalPERS 15.531% vs. 13.888% in 2016-17 CVT rates for the October 1, 2017 renewal: • Kaiser 4 increase 1.48% • Small decreases to dental, vision and life rates No contribution to OPEB trust in budget General fund contribution to food service program increases due to PERS
2017-18 Budget Adoption Multi-Year Projections Factor 2017-18 2018-19 2019-20 Statutory COLA 1.56% 2.15% 2.35% LCFF Factors Gap Funding Percentage 2017-18 2018-19 2019-20 Dept. of Finance 43.97% 71.53% 73.51% COLA increases the LCFF target Funding has closed 97% of the gap by 2017-18 — ahead of schedule Full funding projected in 2020-21
Projected Unrestricted Reserves 2017-18 Adopted Budget Unrestricted Budget Special Unrestricted & Economic Stabilization Reserve Total Reserve Uncertainty Reserve Fund Reserves % 2014-15 323,643 0 855,193 1,178,836 2.21% 2015-16 0 1,037,899 1,898,917 2,936,816 4.63% 2016-17 579,188 850,432 1,915,299 3,344,919 5.16% 2017-18 0 789,459 1,934,299 2,723,758 4.34% 2018-19 0 142,471 1,953,641 2,096,112 3.31% 2019-20 0 0 1,973,178 1,973,178 3.07%
District Reserves in Multi-Year Projection: Budget Stabilization Reserve Other uncertainties remain: Projected enrollment and staffing Gap funding percentage in future years Health premium increases — projected at 3% in 2018-19 and 2019-20 Shown as “Assigned” in multi -year projection
Issues for Future Years Operating budget items, such as: • Instructional materials • Technology for students and staff — replacement cycle • Custodial and maintenance staff for added facilities • Deferred maintenance funding Ongoing increases to STRS and PERS Funding of retiree medical liability Proposed minimum wage increases with no funding increase Any future negotiated salary increases Impact of the Affordable Care Act changes
What’s Next? More budget details will come in trailer bills 45 days to update the District budget for the final State budget once the Governor signs it Update to be presented at August 15 board meeting Unaudited Actuals to be presented at September 19 board meeting
Questions?
Recommend
More recommend
