Santa Paula Unified School District 2017/18 Unaudited Actuals September 12, 2018 1
SPUSD 2017/18 Unaudited Actuals Timeline and Process • The Unaudited Actuals are the 4 th and final financial report prepared for 2017/18 • The Fiscal year ended June 30, 2018 • All accounts & programs are closed in July and August • The Unaudited Actuals report must be submitted to the County Office of Education by September 15 th 2
SPUSD 2017/18 Unaudited Actuals Estimated Unaudited Actuals Actuals Difference TOTAL REVENUES 67,185,157 69,396,470 2,211,313 TOTAL EXPENDITURES 69,855,715 70,355,365 499,650 NET CHANGE (2,670,558) (958,895) 1,711,663 BEGINNING BALANCE 17,768,697 17,768,697 0 ENDING BALANCE 15,098,139 16,809,802 1,711,663 3
SPUSD 2017/18 Unaudited Actuals Components of Ending Fund Balance Revolving Cash/Pre-paids 18,490 Committed Funds (Textbooks) 822,823 Economic Uncertainties (3%) 2,095,586 Assigned/Designated 829,759 Legally Restricted 1,016,874 Undesignated 12,026,270 Total Ending Balance 16,809,802 4
SPUSD 2017/18 Unaudited Actuals Restricted Ending Balances (Entitlements): Medi-Cal Billing Option 89,510 Lottery: Instructional Materials 407,647 Special Ed: Mental Health Services 825 College Readiness Block Grant 96,444 Other Restricted State 22,786 Routine Maintenance Account (RMA) 106,986 Other Restricted Local (Donations) 292,674 Total Ending Balance 1,016,874 5
SPUSD 2017/18 Unaudited Actuals Unearned Revenues ( Grants): Title I – Part A 391,713 Title II – Professional Development 85,543 Title III – Immigrant 6,913 Career Pathways – VC Innovates 28,046 Ag. Science 55,500 Total Carryovers 567,715 6
SPUSD 2017/18 Unaudited Actuals Next Steps • Auditor (Nigro & Nigro)Visits/Testing by November • Auditor Report due to VCOE/State by December 15 th • Board will receive Auditor’s report at a January Board Meeting • Director of Budget & Finance will post carryover revenues and expenditure budgets in the First Interim Report (December 15 th ) 7
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