Santa Paula Unified School District 2015-2016 Unaudited Actuals September 14, 2016 1
Timeline and Process • Unaudited Actuals is the 4 th and last financial report prepared for 2015/16 • The Fiscal year ended June 30, 2016 • 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 2015-16 Unaudited Actuals 2nd Interim Unaudited Difference TOTAL REVENUES 64,268,118 66,243,640 1,975,522 TOTAL EXPENDITURES 64,727,930 62,713,388 (2,014,542) NET CHANGE (459,812) 3,530,251 3,990,063 BEGINNING BALANCE 14,793,325 14,793,325 0 ENDING BALANCE 14,333,513 18,323,576 3,990,063 3
SPUSD 2015-16 Unaudited Actuals Ending Fund Balance Analysis Carryover: Total 3,990,063 Restricted Funds Increase: -1,107,833 Unrestricted Increase: 2,882,230 Unrestricted Breakdown: Carryover from Spring 2016 Textbook order not received until July: -1,100,000 Carryover in designated funds: -786,502 Carryover in One-time funds for LCAP Goals -584,000 Remaining Miscellaneous Unused funds: 411,728 4
SPUSD 2015-16 Unaudited Actuals Components of Ending Fund Balance Revolving Cash/Pre-paids 13,874 Committed Funds (Textbooks Spring ’16) 1,100,000 Economic Uncertainties (3%) 1,881,402 Assigned/Designated 3,549,760 Legally Restricted 1,815,110 Undesignated 9,963,431 Total Ending Balance 18,323,576 5
SPUSD 2015-16 Unaudited Actuals Carryover: Restricted Funds: Educator Effectiveness 289,968 Routine Restricted Maintenance 669,991 Calif. Clean Energy Jobs Act 129,093 Medi-Cal Billing 167,592 Restricted Lottery 243,401 Other Restricted: Donations 282,915 Special Ed: Mental Health Funds 32,150 Total Ending Balance 1,815,110 6
Assigned/Designated • Assigned and Designated are expenditures that are expected in the future, or designated carryovers in programs: • Spring ‘17 Textbook order: $1,000,000 • Medi-Cal Administrative Activities: $163,347 • One Time Funding – LCAP Goal 1: $584,000 • SERP (last Payment 2017): $39,155 • Earned but Unused Vacation Liability: $381,562 • OPEB: Retiree Earned Benefits: $527,154 • East Area 1 K-8 start up: $250,000 • Board Priorities: $604,542 7
Unaudited Actuals GASB Accounting Changes New rules implemented for this report require the District to record revenue and expenditures for “On - Behalf” payments and support: – “STRS” payments made by State of California • $1,430,922 – “Federal E - rate Program” support for internet and telecommunications • $496,000 – CNS “Commodities Program” • $207,399 8
SPUSD 2015-16 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 ) 9
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