Board of Trustees: Presented by: Ivery Hood , President Pam Conklin, Superintendent Russ Barrington , Vice President Trudy Barrington, Director Janet Jackson Forbes , Clerk Riitta DeAnda , Member March 2020 Adrian Saiz , Member The Board and staff thank our students for their artwork contributions to this publication. 2751 De Ronde Drive Reaching beyond the boundaries to build a community of learners. Fairfield, CA 94533
2019-2020 Second Interim Reflects the Financial Condition of the district as of January 31, 2020 Board of Education required to approve by March 15 th Projected Financial Condition is Qualified
2019-2020 Second Interim • Changes to the Budget Since First Interim: • Current Labor Offer of 2% effective July 1, 2019 Impact on Ending Fund Balance • • Updated revenues to known allocation factors Decrease in enrollment by 40 • CBEDS day (10/2/2019) @ 5,455 • Adopted budget @ 5,495 • • Reviewed position control Salary changes • Vacancies ( Contracts due to vacancies) • • Review actual expenditures from prior year to current year
2019-2020 Second Interim Revenues LCFF revised for enrollment/ADA Federal Impact Aid, Title I/II/III/IV, DoDEA grants Second Interim Budget Adjusted for actual awards 2019-20 Revenues LCFF/State Aid/Property Tax 49,249,285 79.58% Other State & Local Federal Revenues 5,844,008 9.44% Lottery, Workability, Special Ed Other State Revenues 4,616,278 7.46% Adjusted for actual awards and Other Local Revenues 2,173,514 3.51% updated funding models Total Revenues 61,883,085 Fees Budgeted as received (cash basis) LCFF Other State & LCFF Base Federal Total Current Supplemental Local Grant Revenues Year Revenues Grant Revenues
2019-2020 Second Interim Second Interim Expenditures Salary & Benefits Adjustments to actual salary placement and vacancies Special Education Costs Salaries & Benefits Increased due to increased enrollment and Utilities & Services non-public school placements Insurance Supplies Utilities Debt & Other First Capital Outlay Interim Multi-Year Projections Step/Column increases 2.0% COLA adjusted to Governor's Budget Salaries & Benefits Special Education Budget CPI for many operating expenditures Utilities & Services Supplies Debt & Other Capital Outlay
General Fund Budget Summary Unrestricted & Restricted 2019-20 2019-20 First Interim Second Interim Budget Budget Beginning Fund Balance $9,299,426 $9,299,426 Revenues and Transfers $61,652,460 $61,883,085 Total Revenues $70,951,886 $71,182,511 Salary Expenditures $51,021,958 $50,671,312 Non-Salary Expenditures $13,736,918 $14,289,159 Total Expenditures $64,758,876 $64,960,471 Ending Fund Balance $6,193,010 $6,222,040 Commitments/Assignments $4,250,244 $4,273,226 Reserve for Economic Uncertainties $1,942,766 $1,948,814 As of January 2020, Source SACS Form 01I
Ending Fund Balance Detail General Fund (01 ): $ 6,222,040.41 Restricted balance $ 1,476,409.75 Unrestricted balance $ 4,745,630.66 Restricted: Lottery 333,667.03 Special Ed: Mental Health 280,000.00 Classified Employee PD Grant 28,623.42 Unrestricted: Low-Performing Students Block Grant 294,321.00 Revolving Cash 50,000.00 Routine Restricted Maintenance 302,509.62 Stores 48,114.37 Other Restricted Local 237,288.68 3% - Economic Uncertainties 1,948,814.13 1,476,409.75 TUTA Catastrophic Leave 20,000.00 Compensated Absences 373,624.05 Reserve for Textbook Adoption 171,535.64 Reserve for Current Labor Offer 895,414.00 Reserve for Sustainability 1,238,128.47 4,745,630.66
Multiyear Projections • District’s Current Labor Offer: 2% effective July 1, 2019 • Increase Average Daily Attendance (ADA) • 20 for each year: 2020/21 & 2021/22 • Increase LCFF by projected COLA only • 20/21 @ 2.29% and 21/22 @ 2.71% • Removed one-time discretionary funds • STRS/PERS figures • 20/21 @ 18.40% / 22.80% • 21/22 @ 18.10% / 24.90% • Use Fund 17 to balance the budget in 2020/21 and 2021/22 • 3% required Economic Uncertainties Reserve
Multiyear Projections
2019-2020 Second Interim Conclusion Qualified Certification 19/20 plus two more years Deficit spending Current and subsequent years Dependency on Fund 17 in 2020/21 and 2021/22
2019-2020 Budget Cycle June June Adopt Budget Adopt Budget June July-Sept July-Sept Public Hearing Close Books Close Books Jan-May Jan-May August August Budget Budget Enrollment Enrollment Development Development Verification Verification April/May April/May August/Sept. August/Sept. Preliminary Preliminary SCOE Budget SCOE Budget Enrollment Enrollment Certification Certification April April Sept-Nov Sept-Nov Second Period Second Period Audit Audit Attendance Attendance Closing Closing March March December December First First Second Second January January Interim Interim Interim Interim 1 st Period 1 st Period Attendance Attendance
Thank You! The Board and staff thank our students for their artwork contributions to this publication.
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