2017-18 Unaudited Actuals Report September 4, 2018 1
2017-18 Revenue Summary Federal Other State 8% 5% Other Local Description Amount 10% LCFF $175,485,376 Federal $17,769,111 Other State $12,450,331 LCFF Other Local $22,537,797 77% Total Combined Revenue (Unrestricted & Restricted) $228,242,615 Other Local Revenue overstated by $1.2M. Audit adjustment to revenue is expected with the 2017-18 audit. LCFF Federal Other State Other Local Total General Fund Revenue Entitlement in 2017-18 was $228 Million 2
General Fund Combined Revenue History Restricted Revenue * Contribution to Restricted: E.g., LCAP, Sp.Ed., RRMA Unrestricted Revenue $250 MILLIONS $200 $150 $100 $50 $- *Removed SELPA Income 3
General Fund Revenue History by Classification Contribution to Restricted: E.g., LCAP, Sp.Ed., RRMA in Unrestricted Revenue in Millions Millions 130 129 63 121 122 119 120 57 98 48 93 92 93 32 18 17 14 13 12 7 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 2017-18 Summary Restricted Revenue in Millions • Unrestricted Revenue Decreased • Unrestricted Contribution to Restricted Increased • Restricted Revenue Increased $82 $75 $73 $44 $42 $43 $36 $36 $34 $33 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 4
2017-18 Expenditure Summary Books and Services and Description Amount Supplies Other Certificated Salaries $ 95,815,548 Operating Classified Salaries $ 30,341,982 Benefits Total Employee Benefits $ 56,739,544 Capital Outlay Books and Supplies $ 14,490,865 Services and Other Operating $ 29,456,548 Other Outgoing Classified Total Capital Outlay $ 9,012,855 Other Outgoing $ 576,902 Total Expenditures $ 236,434,245 Certificated Transfers of Total Indirect Costs Total General Fund Expenditures in 2017-18 were $236 Million *Indirect Cost Transfer totaled -$1,735,298 resulting in a net expenditure of $234,698,947 5
General Fund Combined Expenditures History $250 Millions Certificated Salaries $200 Classified Salaries $150 Employee Benefits Books & Supplies $100 Services & Operating $50 Capital Outlay $- Other Outgo* The District has seen its expenditures continue to trend materially upward each year beginning in 2013-14 6
General Fund Revenue vs. Expenditures Revenue Expenditures $270 Millions $250 $230 $210 $190 $170 $150 In 2017-18 expenditures exceeded revenues and expenditures are expected to continue to exceed revenues in the projected years. 7
General Fund 2017-18 Ending Fund Balance 2017-18 2017-18 2017-18 Unrestricted EFB Restricted EFB Combined EFB Total Revenues 185,387,971 42,854,644 228,242,615 Total Expenditures plus Contributions to Restricted Resources and Other 196,407,268 39,124,225 235,531,494 Increase/(Decrease) to Reserve (11,019,298) 3,730,419 (7,288,879) Fund Balance Beginning Fund Balance 54,796,693 18,006,911 72,803,604 Ending Fund Balance Prior to Other Assignments 43,777,395 21,737,329 65,514,725 Components of Ending Fund Balance Revolving Cash 50,000 - 50,000 Stores 38,170 - 38,170 Other Assignment-Deficit Spending 24,287,345 - 24,287,345 Other Assignment - Unrestr Programs 4,912,172 - 4,912,172 Reserve for Economic Uncertainties 7,120,000 - 7,120,000 Reserved Restricted Fund - 21,737,329 21,737,329 Unappropriated Amount - Amount that establishes our certification 7,369,709 - 7,369,709 8
Fund 01- General Fund Variance Estimates vs. 2017-18 Unaudited Actuals 2017-18 Estimated 2017-18 Unaudited Actuals (EA) Budget Actuals (UA) Budget Variance % Change REVENUE FUND 01 LCFF Sources 175,891,902 175,485,376 (406,526) -0.23% Federal Revenue 16,941,731 17,769,111 827,380 4.88% Other State Revenue 13,176,075 12,450,331 (725,744) -5.51% Other Local Revenue 18,347,305 22,537,797 4,190,492 22.84% Total Revenue 224,357,013 228,242,615 3,885,602 1.73% EXPENDITURES FUND 01 Certificated Total 95,741,990 95,815,548 73,558 0.08% Classified Total 30,463,582 30,341,982 (121,600) -0.40% Benefits Total 57,550,364 56,739,544 (810,820) -1.41% Books and Supplies 15,724,391 14,490,865 (1,233,526) -7.84% Services and Other Operating 28,828,831 29,456,548 627,717 2.18% Capital Outlay 8,946,247 9,012,855 66,608 0.74% Other Outgo, IC, & Others (1,145,389) (1,158,396) (13,007) 1.14% Total Expenditures 236,110,016 234,698,947 (1,411,069) -0.60% $1.2M was over accrued for excess costs from Wilsona School District resulting in a $4.1M variance. The variance should be $2.9M or 16%. 9
Fund 01- General Fund Variance Estimates vs. 2017-18 Unaudited Actuals 2017-18 Estimated 2017-18 Unaudited Actuals (EA) Budget Actuals (UA) Budget Variance % Change Ending Fund Balance Prior to Other Assignments 59,912,982 65,514,725 5,601,742 9.3% Components of Ending Fund Revolving Cash 100,000 50,000 (50,000) -50.0% Stores 55,000 38,170 (16,831) -30.6% Other Assignment-Deficit 24,287,345 24,287,345 - 0.0% Other Assignment - Unrestr 4,389,160 4,912,172 523,012 11.9% Reserve for Economic 7,120,000 7,120,000 - 0.0% Reserved Restricted Fund 21,449,310 21,737,329 288,019 1.3% Unappropriated Amount - Amount that establishes our certification 2,512,167 7,369,709 4,857,542 193.4% 10
2018-19 Proposed Budget Report Assumptions: Enrollment 2018-19 enrollment as of 08/31/2018 is 19,038 20,500 20,095 20,000 19,591 19,281 19,247 19,500 19,074 19,170 18,692 19,000 18,288 18,500 18,000 17,546 -434 17,500 17,182 -405 17,000 -742 16,500 -364 16,000 15,500 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 (Proj) (Proj) (Proj) Enrollment at CBEDs * Enrollment projections will be updated at 1 st interim.
2017-18 Unaudited Actuals and 2017-18 Adopted Budget MYP Report Increases/(Decreases) to Reserve Actuals MYP Projection $25 $19.19 $20 $15 $10.66 $7.72 $7.56 $10 Main reason for deficit expenditure projections is the Increasing expenditure trend vs. steady $5 revenue trend $0 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 -$5 -$1.81 -$7.29 -$10 -$8.66 -$11.13 -$15 -$16.08 -$18.14 -$20 Budget LCFF Increased Funding while in LCFF transition period LCFF Fully Funded COLA Only -$25 Cuts Increases Expected 12
2017-18 All Other Funds Beginning Revenue Expenditures Ending Fund Description Balance Transfers In Transfers Out Balance 10.0 Special Education Pass Through 10,409,152 60,404,295 55,368,008 15,445,439 12.0 Child Development 240,641 16,077,824 16,076,622 241,843 13.0 Cafeteria 5,585,352 13,279,829 13,862,717 5,002,464 20.0 Post Employment Benefits 178,939 2,803 - 181,742 21.0 Building Fund (GO Bonds) 59,519,824 1,952,449 7,040,229 54,432,045 25.0 Capital Facilities (Dev Fees) 353,603 434,399 139,954 648,048 40.0 Capital Outlay 2,293,682 11,739,465 5,017,247 9,015,901 49.0 Building Fund (Spec Tax Bonds) 23,619,394 96,675 10,703,160 13,012,909 51.0 Bond Interest & Redemption 5,965,848 6,981,440 5,048,333 7,898,955 52.0 Debt Service (Spec Tax Bonds) 11,449,203 6,540,576 2,478,015 15,511,764 56.0 Debt Service (COPs) 848,228 2,478,711 3,124,362 202,576 This Table indicates Beginning Fund Balance, Revenue, expenditures, and Ending Fund Balance for all other funds in 2017-18. 13
2017-18 Unaudited Actuals Supplemental Forms Report Description Palmdale School District Results CEA Percent of Current Costs of Education for Classroom Compensation - Must meet or Value = 60.25% exceed 60% for Elementary Districts Target Met GANN The GANN limit is a limit on the appropriation of tax revenues of all California Adjusted Appropriations Government - State, cities, counties, school agencies, special districts. The Districts GANN Limit = $125,702,051 calculations and documentation are made in accord with applicable constitutional Appropriations Subject to and statutory law. GANN Limit = $125,702,051 ICR The Indirect Cost Rate is the amount that can be charged to restricted categorical Indirect Charged = $1,735,298 programs to recover administrative costs. Indirect Rate for 13-14 = 6.70% Indirect Rate for 14-15 = 5.98% Indirect Rate for 15-16 = 6.66% Indirect Rate for 16-17 = 5.39% Indirect Rate for 17-18 = 7.59% ESMOE Every Child Succeeds (ES) Maintenance of Effort (MOE) Determination. Established PY Expenditures = $192,552,151 to improve the education opportunities for every child. The District must have a 90% of PY Exp = $173,296,936 minimum of 90% of the prior year expenditures to meet the MOE requirements. CY Expenditures = $200,520,395 MOE Met 14
Looking Forward Change Continues Enrollment, ADA LCFF Fully Funded COLA only growth ahead Conservative Expenditure 2018-19 First Interim Report coming in December 15
Questions? 16
The Palmdale Aerospace Academy 2017-18 Unaudited Actuals Report September 4, 2018 17
TPAA REVENUE SUMMARY 2017-18 Unaudited Actuals vs 2018-19 Budget 2017-18 Unaudited 2018-19 Budget 45- Actuals (EA) Day Revision** Variance % Change REVENUES LCFF Sources 16,118,590 17,888,551 1,769,961 11.0% Federal Revenue 1,426,783 1,468,221 41,438 2.9% Other State Revenue 3,376,459 3,322,498 (53,961) -1.6% Other Local Revenue 276,966 279,391 2,425 0.9% Total Revenue 21,198,798 22,958,661 1,759,863 8.3%
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