Board of Education Presentation 2016 17 Unaudited Actuals Business - PowerPoint PPT Presentation

Board of Education Presentation 2016 ‐ 17 Unaudited Actuals Business Services October 18, 2017

Presentation Items 1. Education Code Requirement 2. 2016 ‐ 17 County School Service Fund (CSSF) (Fund 01)  Revenues  Expenditures  Unrestricted and Restricted Graphs  Components of Ending Fund Balance 3. Summary of Funds 2

Education Code Requirement Santa Clara County Office of Education’s 2016 ‐ 17 Unaudited Actuals • Financial Report provides actual revenues, expenditures, ending fund balances, and reserves for the period July 1, 2016 through June 30, 2017. Education Code 1628 states: • On or before October 15 of each year, the county superintendent of schools of each county office shall prepare and file, in a format prescribed by the Superintendent of Public Instruction, an annual statement of all receipts and expenditures of the county office for the preceding fiscal year and shall file the statement, along with the statement received pursuant to subdivision (b) of Section 42100, with the Superintendent of Public Instruction 3

2016 ‐ 17 Year ‐ end Close County School Service Fund (Fund 01) – Revenues Sub ‐ Funds 800 to 990 4

County School Service Fund: Unrestricted Revenues County School Service Fund (CSSF) revenue categories, amounts and percentages for the unrestricted funds are shown below. 2016 ‐ 17 County School Service Fund Unaudited Actual Unrestricted Adopted Budget 2nd Interim Revenue Amount % Amount % Amount % 1 LCFF Sources $ 52,834,371 89.00% $ 59,177,717 87.53% $ 60,354,028 82.74% Federal Revenue ‐ 0.00% ‐ 0.00% 72,260 0.10% Other State Revenue 680,877 1.15% 1,014,040 1.50% 1,017,268 1.39% 2 Other Local Revenue 7,648,484 12.88% 9,522,182 14.08% 13,342,543 18.29% Transfers In 25,000 0.04% 1,628,783 2.41% 1,603,783 2.20% Contributions (1,822,313) ‐ 3.07% (3,730,006) ‐ 5.52% (3,443,856) ‐ 4.72% Total $ 59,366,419 100.00% $ 67,612,716 100.00% $ 72,946,026 100.00% Contributing factors affecting growth in Revenue: 1) LCFF increases due to property tax increases (Note all excess is remitted and does not provide greater spending ability) 2) Other Local Revenue increases mainly due to Redevelopment dollars 5

County School Service Fund: Restricted Revenues County School Service Fund (CSSF) revenue categories, amounts and percentages for the restricted funds are shown below. 2016 ‐ 17 County School Service Fund Unaudited Actual Restricted Adopted Budget 2nd Interim Revenue Amount % Amount % Amount % 3 LCFF Sources $ 68,360,095 43.57% $ 69,882,808 41.39% $ 76,946,022 46.46% Federal Revenue 43,601,410 27.79% 52,655,430 31.19% 45,245,810 27.32% Other State Revenue 13,560,226 8.64% 10,712,905 6.35% 10,255,800 6.19% Other Local Revenue 29,568,112 18.84% 31,844,031 18.86% 29,736,707 17.95% Transfers In ‐ 0.00% ‐ 0.00% ‐ 0.00% Contributions 1,822,313 1.16% 3,730,006 2.21% 3,443,856 2.08% Total $ 156,912,156 100.00% $ 168,825,180 100.00% $ 165,628,195 100.00% Contributing factor towards growth in Restricted Revenues: 3) LCFF increase is due to Property tax increase allocation for special education 6

2016-17 County Sc hool Se r vic e F und: Unr e str ic te d and R e str ic te d R e ve nue s Total Revenues & Transfer In $238,574,221 LCFF $137,300,050 57% Federal Revenue $45,318,071 19% Other State Revenue Transfer In Other Local $11,273,068 $1,603,783 Revenue 5% 1% $43,079,249 18% 7

2016 ‐ 17 Year End Close County School Service Fund (Fund 01) – Expenditures Sub-F unds 800 to 990 8

County School Service Fund: Unrestricted Expenditures County School Service Fund (CSSF) expenditure categories, amounts and percentages for the unrestricted funds are shown. 2016 ‐ 17 County School Service Fund Unaudited Actual Adopted Budget 2nd Interim Amount % Amount % Unrestricted Expenditures Amount % Certificated Salaries $ 9,832,866 11.13% $ 9,977,013 11.10% $ 9,582,137 13.56% Classified Salaries 22,261,550 25.19% 24,496,080 27.24% 23,687,465 33.51% Employee Benefits 12,888,492 14.58% 13,576,237 15.10% 13,842,266 19.59% 1 Subtotal Salaries and Benefits 44,982,908 50.90% 48,049,330 53.44% 47,111,868 66.66% Books and Supplies 3,958,605 4.48% 3,528,971 3.92% 1,410,620 2.00% 2 Services and Other Operating Expenditures 15,271,409 17.28% 16,755,722 18.63% 9,483,030 13.42% Capital Outlay 15,562,186 17.61% 13,747,849 15.29% 2,607,950 3.69% Other Outgo 19,965,317 22.59% 20,294,075 22.57% 19,312,972 27.33% Direct Support/Indirect Cost (11,438,961) ‐ 12.94% (12,726,998) ‐ 14.15% (11,162,468) ‐ 15.79% Subtotal Other Expenditures 43,318,556 49.02% 41,599,619 46.26% 21,652,104 30.64% 3 Transfers Out 71,925 0.08% 273,801 0.30% 1,909,684 2.70% Total Unrestricted Expenditures $ 88,373,389 100.00% $ 89,922,750 100.00% $ 70,673,656 100.00% Contributing factors in changes to expenditures: 1) Growth in Salaries and Benefits 2) Decreases in Services, other expenditures and Capital Outlay (reallocated in the multiyear forecast) 3) Increase in transfer out (e.g. main portion for a change in the accounting treatment of debt service of COPS moved to fund 560) 9

County School Service Fund: Restricted Expenditures County School Service Fund (CSSF) expenditure categories, amounts and percentages for the restricted funds are shown. 2016 ‐ 17 County School Service Fund Adopted Budget 2nd Interim Unaudited Actual Amount % Amount % Restricted Expenditures Amount % Certificated Salaries $ 39,691,802 24.95% $ 42,725,851 23.55% $ 41,071,070 25.36% Classified Salaries 34,838,889 21.89% 36,961,359 20.36% 36,903,733 22.78% Employee Benefits 38,499,137 24.19% 39,516,594 21.77% 37,534,023 23.17% 4 Subtotal Salaries and Benefits 113,029,828 71.03% 119,203,804 65.68% 115,508,826 71.31% 5 Books and Supplies 4,217,117 2.65% 8,147,825 4.49% 2,105,698 1.30% Services and Other Operating Expenditures 27,423,810 17.24% 33,470,017 18.44% 27,559,127 17.02% Capital Outlay 117,840 0.07% 3,722,632 2.05% 858,155 0.53% 6 Other Outgo 1,912,828 1.20% 3,307,141 1.82% 3,732,745 2.30% Direct Support/Indirect Cost 10,824,942 6.80% 12,047,019 6.64% 10,596,292 6.54% Subtotal Other Expenditures 44,496,537 27.96% 60,694,634 33.44% 44,852,017 27.69% Transfers Out 1,605,813 1.01% 1,605,813 0.88% 1,609,669 1.00% Total Restricted Expenditures $ 159,132,178 100.00% $ 181,504,251 100.00% $ 161,970,512 100.00% Contributing factors in expenditures changes: 4) Growth in salaries and benefits 5) Decrease in books and supplies 6) Increase in other outgo 10

2016 ‐ 17 County School Service Fund Total Expenditures Unaudited The following table provides Expenditures Category Actuals % of Total the Santa Clara County Certificated Salaries $50,653,207 21.77% Classified Salaries 60,591,198 26.05% Office of Education’s 2016 ‐ Employee Benefits 51,376,288 22.08% 17 County School Service Sub ‐ total Salaries & Benefits 162,620,693 69.90% Fund expenditures of Books/Supplies 3,516,318 1.51% $232.6M. Services/Capital Outlay 40,508,263 17.41% Other Outgo/ Interfund Transfer ‐ out 25,998,893 11.18% Total Expenditures $232,644,167 100.00% 75.57% of these funds are for Salaries & Benefits. Back ‐ out Return of Excess Property Tax (17,459,375) Total Expenditures exclude Return of Excess Property Tax $215,184,792 % of Salaries & Benefit over Total Expenditures exclude Return of Excess Property Tax 75.57% 11

2016 ‐ 17 County School Service Fund Unrestricted and Restricted Expenditures Total Expenditures & Transfer Out The following pie Classified Salaries $232,644,167 28.16% chart provides the breakdown of Employee expenditures, Benefits 23.88% excluding the return of prior year excess property tax at $215.1M Certificated ($232.6M ‐ Salaries Books & Supplies 23.54% $17.5M). 1.63% Services & Other Other Outgo / Operating Interfund Transfer Expenditures Captial Outlay Out 17.21% 1.61% 3.97% % Total of Salaries & Benefits = 75.57% 12