First Interim Budget 2018-19 December 11, 2018
2018-19 General Fund 1 First Interim Budget Assumptions • Local Control Funding Formula • COLA increased to 3.70% • Gap funding at 100% • Unduplicated pupil count at 47.91% • Projected ADA at 51,036 • Federal, State and Local revenues updated • One-time entitlements and mandates • 2017-18 Site carryover updated • Increase of Routine Repair Maintenance contribution
2018-19 First Interim Budget 2 Projected Revenues *Numbers in millions 2018-19 Adopted Budget vs Adopted First Interim First Interim Variance Budget Budget LCFF $468.2M $472.5M $4.3M Federal Income $21.3M $24.6M $3.3M State Revenue $91.0M $84.2M ($6.8M) Local Revenue $2.0M $7.2M $5.2M Transfers In - - - Total $582.5M $588.5M $6.0M
2018-19 First Interim Budget 3 Projected Expenditures *Numbers in millions 2018-19 Adopted Budget vs First Interim Variance Adopted Budget First Interim Budget Certificated Salaries $290.3M $294.3M $4.0M Classified Salaries $77.6M $77.8M $0.2M Employee Benefits $126.9M $130.5M $3.6M Books & Supplies $21.8M $32.5M $10.7M Services & Other Operating $60.2M $64.9M $4.7M Capital Outlay $0.6M $0.5M ($0.1M) Indirect Costs ($1.0M) ($1.0M) - Transfers Out/ Other Outgo $1.8M $1.8M - Total * $578.2M ◊ $601.3M $23.1M ◊ Includes: Additional $4.0M increased Special Ed costs over adopted budget. * Includes: $2.0M increased Special Ed costs • 0.97% salary increase per formula true up over prior year. • 2017-18 carry-over
Multi-Year Budget Assumptions 4 2019-2020 • Local Control Funding Formula • COLA remains at 2.57% • Zero gap funding – LCFF fully implemented • Unduplicated pupil count at 48.69% • Projected ADA decline of 100 • Federal, State and Local revenues • Adjustments for one-time entitlements and mandates
Multi-Year Projections 5 2019-2020 • Decrease of 13 FTE (Certificated and Classified) • Step and column advancement • Increase of STRS and PERS • Increase of student LCAP supplemental services • Increase of utilities and contracted services
Multi-Year Projections 6 2019-2020 • Increase of transportation services cost • Restoration of Routine Repair Maintenance contribution to 3%
Multi-Year Projections 7 2020-2021 Local Control Funding Formula • COLA remains at 2.67% • Zero gap funding – LCFF fully implemented • Unduplicated pupil count at 48.70% • Projected ADA decline of 100 • Adjustment of Federal, State, and Local • revenues
Multi-Year Projections 8 2020-2021 • Decrease of 4 FTE (Certificated and Classified) • Step and column advancement • Increase of STRS and PERS • Increase of student LCAP supplemental services • Increase of utilities and contracted services
Multi-Year Projections 9 2020-2021 • Increase of transportation services cost • Increase of Routine Repair Maintenance contribution
Progress Toward LCFF Implementation 10 2018-19 May Revision: Full LCFF implementation; 100% cumulative gap closure 100% 100.00% 100.00% 100.00% 100.00% 90% 92.70% 87.50% 86.74% 80% 75.00% 70% 70.63% 60% 62.50% 50% 50.00% 40% 38.55% 37.50% 30% 12.02% 25.00% 20% 10% 12.50% 0% 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 Projected Actual
Per-ADA 11 Revenues vs. Expenditures $700 $587 $600 Special Education Contribution Special Education S/C Growth ? Contribution $500 $172 Special Education ? Contribution Special Education ? Contribution ? $400 $300 $270 Step & Column Step & Column $253 $248 Step & Column $147 $143 $145 S/C Growth $44 S/C Growth $41 Step & Column Base Growth S/C Growth $200 $150 $415 $104 PERS Increase $56 PERS Increase $59 PERS Increase $51 Base Growth Base Growth PERS Increase $56 $226 $100 $212 STRS Increase Base Growth STRS Increase STRS Increase $147 $144 $143 $145 STRS Increase $78 $- LCFF Growth Revenues Expenditures LCFF Growth Revenues Expenditures LCFF Growth Revenues Expenditures LCFF Growth Revenues Expenditures 2017-18 2018-19 2019-20 2020-21 $67.4M $73.0M $78.7M $83.7M CNUSD Contribution
Multi-Year Projections Budget Summary 12 *Numbers in millions 2018-19 2019-20 2020-21 First Interim Projected Projected Adopted Budget Budget Budget Budget Total Revenues $582.5M $588.5M $590.8M $603.5M Total Expenditures $578.2M $601.4M $607.0M $621.3M Excess (Deficiency) of $4.3M ($12.9M) ($16.2M) ($17.8M) Revenues Over Expenditures Interfund Transfers-In - - - - Interfund Transfers-Out $0.3M $0.3M $0.3M $0.3M Net Increase/(Decrease) $4.0M ($13.3M) ($16.5M) ($18.2M) Beginning Balance $69.4M $69.4M $56.1M $39.7M Ending Balance $73.4M $56.1M $39.7M $21.5M 2% Contingency $11.6M $12.0M $12.1M $12.4M Restricted Assigned
STRS & PERS Impact 13 *Numbers in millions 2013-14 2020-21 STRS & PERS Contributions $27.0M $67.0M LCFF Funding (Actual) $325.0M $495.0M STRS & PERS Increase as a % of LCFF Funding Increase 23.46% LCFF Base Grant $320.0M $452.0M STRS & PERS Increase as a % 30.24% of LCFF Base Grant Increase
Other Funds 14 *Numbers in millions 2018-19 Approved Projected Revenues Expenditures Beginning Fund Ending Fund +/- +/- Balance Balance Adult Education Fund $1.9M $2.8M ($2.9M) $1.8M Child Development Fund - $0.4M ($0.4M) - Child Nutrition Fund $2.0M $20.9M ($20.9M) $2.0M Building Fund $94.2M $0.1M ($83.2M) $11.1M Capital Facilities Fund $0.8M $10.2M ($11.0M) - Self Insurance Fund $7.9M $5.0M ($3.1M) $9.8M
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