LONG BEACH UNIFIED SCHOOL DISTRICT 2020-21 BUDGET June 2, 2020 1
CALIFORNIA STATE BUDGET • May Revision • Adoption of State Budget this month • August Revision • Personal Income Tax deadline shift Continuing Issues Life of the virus Consumer confidence and spending Revival of small and large businesses Federal unemployment benefits Performance of world economy 2
MAY REVISION • Eleven years of economic expansion came to an abrupt halt this year. • CA jobless rate 15.5% in April; likely to reach 23% when reported for May • May Revision based on a $54 billion shortfall for 2019-20 and 2020-21 3
2020-21 GOVERNOR’S MAY REVISION • 10% reduction in LCFF and categorical programs* • Cash deferrals • Temporary relief from STRS and PERS increases • Commitment to increased special education funding • CARES Act funding of $4.4 billion *Cuts would be reversed if federal aid was available 4
2020-21 OPERATING REVENUES ($MILLIONS) General Fund Unrestricted $ 691.20 Adult Education, Cafeteria , $33.80 General Fund Restricted $ 197.30 $1.70 , 0% , 4% Child Development $ 39.50 Child Adult Education $ 1.70 Cafeteria $ 33.80 Development, $ 963.50 $39.50 , 4% General Fund Restricted, $197.30 , 20% General Fund Unrestricted, $691.20 , 72% Total: $963.5 million 5
2020-21 GENERAL FUND REVENUES ($MILLIONS) LCFF $ 663.3 Federal Local, $21.3 , 2% Federal $ 89.7 State Other State $ 114.2 Local Other State, Local $ 21.3 $114.2 , 13% Federal , $89.7 , $ 888.5 10% LCFF, $663.3 , 75% Total: $888.5 million 6
LCFF 2012-13 THROUGH 2023-24 ($MILLIONS) $800.0 2012 ‐ 13 $ 487.1 $ 487.1 2013 ‐ 14 $ 520.1 $ 520.1 $735.1 $730.1 2014 ‐ 15 $ 586.9 $ 586.9 2015 ‐ 16 $ 664.5 $ 664.5 $697.9 $691.1 2016 ‐ 17 $700.0 $ 691.1 $ 691.1 $664.5 $663.3 2017 ‐ 18 $ 697.9 $ 697.9 $646.1 $633.2 2018 ‐ 19 $ 730.1 $ 730.1 $620.5 2019 ‐ 20* $ 735.1 $ 735.1 $586.9 $600.0 2020 ‐ 21* $ 663.3 $ 663.3 2021 ‐ 22* $ 646.1 $ 646.1 2022 ‐ 23* $ 633.2 $ 633.2 $520.1 2023 ‐ 24* $ 620.5 $ 620.5 $487.1 $500.0 $400.0 $300.0 $200.0 $100.0 $ ‐ 2012 ‐ 13 2013 ‐ 14 2014 ‐ 15 2015 ‐ 16 2016 ‐ 17 2017 ‐ 18 2018 ‐ 19 2019 ‐ 20* 2020 ‐ 21* 2021 ‐ 22* 2022 ‐ 23* 2023 ‐ 24* *Projected 7
FEDERAL REVENUES • CARES Act funding direct to districts Included $20 million in budget • $4.4 billion of CARES Act funding Mitigate learning loss Must be spent by December 2020 • Title I, II, III programs, Head Start, Child Nutrition No known reductions at this time 8
DEFERRALS RETURN • Delay in cash payments to districts (IOU) • Rely on cash balances • Interfund borrowing • Borrow cash short term (Tax and Revenue Anticipation Notes- TRANS) 9
EXPENSES • All known program expenses • Does not include expenses related to new standards or requirements for reopening of school 10
2020-21 OPERATING FUNDS EXPENSES ($MILLIONS) Total Capital Outlay, $1.7 , 0% Other Outgo, $0.8 , 0% Certificated Salarie $ 400.1 Services and Other Operating, Classifed Salaries $ 143.1 $113.4 , 11% Employee Benefits $ 282.3 Books and Supplies $ 69.0 Books and Supplies, $69.0 , Services and Other $ 113.4 7% Capital Outlay $ 1.7 Other Outgo $ 0.8 $ 1,010.4 Certificated Salaries, $400.1 , 40% Employee Benefits, $282.3 , 28% Classifed Salaries, $143.1 , 14% Total: $1,010.4 million 11
2020-21 GENERAL FUND EXPENSES ($MILLIONS) Certificated Salari $ 384.2 Capital Outlay, $1.3 , 0% Other Outgo, $(0.5), 0% Classifed Salaries $ 121.6 Services and Other Employee Benefit $ 260.7 Operating, $110.0 , 12% Books and Supplie $ 57.3 Services and Othe $ 110.0 Capital Outlay $ 1.3 Books and Supplies, $57.3 , 6% Other Outgo $ (0.5) $ 934.6 Certificated Salaries, $384.2 , 41% Employee Benefits, $260.7 , 28% Classifed Salaries, $121.6 , 13% Total: $934.6 million 12
THE BOTTOM LINE • Unrestricted Ending Balance (Reserve) • Serves as a cushion and allows us to be more strategic in addressing adverse fiscal circumstances. 13
PROJECTED GENERAL FUND UNRESTRICTED BALANCES ($MILLIONS) 2014 ‐ 15 2015 ‐ 16 2016 ‐ 17 2017 ‐ 18 2018 ‐ 19 2019 ‐ 20 2020 ‐ 21 2021 ‐ 22 2022 ‐ 23 2023 ‐ 24 Budget Adoption ‐ June 2020 90.20 149.60 169.40 187.90 $ 229.8 $ 263.7 $ 224.4 $ 140.8 $ 26.8 $ (112.7) 300.00 Minimum Required Reserve 15.2 16.6 17.60 18.30 $ 18.8 $ 18.3 $ 18.8 $ 18.3 $ 18.6 $ 18.8 7.6 8.3 8.8 9.15 9.413 9.155 9.4 9.15 9.3 9.4 $263.7 11.86842 18.0241 19.25 20.535519 24.40922 28.80415 23.86947 15.38962 2.885699 ‐ 11.9894 250.00 $229.8 $224.4 187.90 200.00 169.40 149.60 $140.8 150.00 90.20 100.00 50.00 $26.8 $18.8 17.60 18.30 $18.3 $18.8 $18.3 $18.6 $18.8 0.00 16.6 15.2 2014 ‐ 15 2015 ‐ 16 2016 ‐ 17 2017 ‐ 18 2018 ‐ 19 2019 ‐ 20 2020 ‐ 21 2021 ‐ 22 2022 ‐ 23 2023 ‐ 24 ‐ 50.00 $(112.7) ‐ 100.00 Budget Adoption ‐ June 2020 Minimum Required Reserve ‐ 150.00 14
January May June August BUDGET AND FINANCIAL State May August Governor’s Budget Revision Revision Budget Adoption REPORTING PROCESS June Aug/Sept December March June LBUSD 45 Day First Second Estimated Budget Budget Interim Interim Actuals Adoption Revision September December Unaudited Independent Actuals Audit Report
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