Certifies District’s Ability to Meet Financial Obligations ◦ Positive , Qualified, Negative. - Positive Certification – The District is able to meet its financial obligations for the current year, and two subsequent years. Material Changes from First Interim Budget ◦ Changes in State Revenue Allocations for Multi Year Projections Substantial one-time revenues ◦ Expenditure projection adjustments
2014-15 Updated Budget Assumptions - Ongoing First Second Approx. Interim Interim Change LCFF Gap Funding 29.56% 29.15% ($435,233)
2014-15 Budget Assumptions Declining Enrollment – Updated 20,362 20,500 20,020 Second nd 20,000 Interim rim 19,606 First st 19,247 47 Interim rim 19,265 19,500 19,169 69 19,000 Adopted: 18,978 18,500 18,000 2010-11 2011-12 2012-13 2013-14 2014-15*
2014-15 Budget Assumptions Average Daily Attendance (ADA) P-1 19,472 P-1 P-2 19,500 19,404 ,404 19,165 P-1 P-2 19,000 18,781 19,114 ,114 P-2 P-1 18,683 ,683 18,395 18,500 P-1 P-2 $18,420 18,462 ,462 18,000 17,500 2010-11 2011-12 2012-13 2013-14 2014-15*
Salaries ($1,750,000) ◦ K-3 GSA Positions Closed ◦ Shift to Restricted Resources ◦ Established Position Control Special Education Contribution $566,000 Textbook Adoption Savings ($1,180,000) ($2,364,000)
2015 - 2016 2016-2017 First Second First Second Interim Interim Interim Interim Cost of Living 2.40% 1.58% 2.60% 2.10% Adjustment (COLA) 32.19% 23.71% LCFF Gap Funding 20.68% 25.48% $128 $128 Lottery – Unrestricted $126 $126 2.50% 2.80% Interest Rate 2.80% 3.20% 2.10% 2.50% Consumer Price Index 2.60% 2.70%
Mandate Claims Reimbursement • Governor’s Proposed 2015 -16 Budget • One – Time Revenue – Assigned to Fund Balance • Funded on a per ADA Basis • Estimated $171/ADA • 2014/15 ADA at P1: 18,210 • Estimated Change to Budgeted 2015-16 Revenues: $3,113,910
2014-2015 Other State Revenue: Projected 2015-2016 2016-2017 First Interim: $2,888,511 Totals Projection Projection Second Interim: $6,002,421 REVENUES 2015-2016 LCFF Base Grant $3,113,910 LCFF State Revenue 125,585,667 130,746,483 133,671,509 First Interim: $129,266,782 Federal Revenue 0 0 0 Second Interim: $130,746,483 Other State Revenue 4,343,337 6,002,421 2,908,062 Increase: $1,479,701 Other Local Revenue 3,339,733 1,593,748 1,593,748 Other Sources Contributions -18,555,362 -22,204,746 -23,242,344 TOTAL REVENUES 114,713,415 116,137,906 114,930,976 EXPENDITURES First Interim Report: Certificated Salaries 52,914,969 53,709,694 54,514,324 Certificated Salaries: $55,016,691 Classified Salaries 12,894,039 13,144,922 13,144,922 Classified Salaries: $13,325,543 Employee Benefits 27,932,306 30,050,899 32,356,915 Net Decrease from 1 st Interim: $1,487,618 Books and Supplies 4,177,366 4,265,091 4,401,699 Services, Other Operating Expenses 12,354,263 12,613,703 12,929,045 Capital Outlay 10,807 12,000 12,000 Other Outgo 6,122,083 6,543,311 6,543,311 First Interim: Indirect Costs -1,370,990 -1,370,990 -1,370,990 ($2,389,871) ($6,962,105) ($8,430,393) TOTAL EXPENDITURES 115,034,843 118,967,650 122,728,420 (2,829,744.00) (7,797,444.00) Increase/(Decrease) to Reserve (321,428.00)
2014-2015 2015-2016 2016-2017 2014-2015 2015-2016 2016-2017 Budget Projection Projection Budget Projection Projection REVENUES REVENUES LCFF State Revenue LCFF State Revenue 16,283,972 16,654,047 25,786,222 22,782,783 30,717,175 28,984,963 LCFF Supplemental and Concentration Grants at Federal Revenue 14,094,679 11,236,924 11,236,924 Federal Revenue 13,899,854 11,236,924 11,236,924 First Interim Report: Other State Revenue Other State Revenue 4,249,008 2,339,628 1,745,901 1,745,901 1,745,901 1,745,901 Other Local Revenue Other Local Revenue 13,655,239 13,591,092 12,404,092 12,404,092 12,404,092 12,404,092 $16,654,047 $22,782,783 $28,984,963 Other Sources Other Sources ($370,075) $3,003,439 $1,732,212 Contributions Contributions 18,555,362 17,866,387 22,204,746 20,281,435 23,242,344 21,004,943 TOTAL REVENUES TOTAL REVENUES 66,838,260 66,351,008 73,377,885 68,451,135 79,346,436 75,376,823 EXPENDITURES EXPENDITURES Certificated Salaries Certificated Salaries 25,441,109 26,708,933 28,638,270 28,885,362 29,053,259 29,246,429 Classified Salaries 9,575,444 10,951,040 11,115,305 Classified Salaries 9,458,432 10,808,627 10,970,756 Employee Benefits Employee Benefits 15,041,413 14,632,635 16,459,818 16,012,884 18,039,614 16,823,291 Books and Supplies Books and Supplies 6,142,056 6,004,780 10,341,921 9,341,921 12,872,400 12,872,400 Services, Other Operating Services, Other Operating Expenses 8,007,703 6,548,385 6,548,385 Expenses 7,168,553 5,544,946 5,689,114 Capital Outlay Capital Outlay 1,398,213 1,330,061 1,234,701 234,701 1,234,701 234,701 Other Outgo Other Outgo 1,352,191 785,546 470,318 470,318 470,318 470,318 Indirect Costs 611,236 1,128,500 1,129,350 Indirect Costs 528,673 1,128,500 1,129,350 TOTAL EXPENDITURES TOTAL EXPENDITURES 67,569,365 58,157,069 75,722,953 72,427,259 80,463,332 77,436,359 Increase/(Decrease) to Fund Increase/(Decrease) to Fund (3,976,124.00) (2,059,536.00) (3,976,124.00) (2,059,536.00) Balance Balance (266,605.00) (266,605.00)
First Interim Report: ($2,389,871) ($6,962,105) ($8,430,393) 2014-2015 2016-2017 2015-2016 Second Interim Report Budget Projection Projection ($321,428) ($2,829,744) ($7,797,444) $2,068,443 $4,132,361 $632,949 TOTAL REVENUES (Minus Contributions) 114,713,415 116,137,906 114,930,976 Net effect of change in Revenues and TOTAL EXPENDITURES 115,034,843 118,967,650 122,728,420 Expenditures: $6,833,753 Increase/(Decrease) to Reserve (321,428) (2,829,744) (7,797,444) FUND BALANCE Beginning Fund Balance 32,238,255 31,916,826 29,087,081 Ending Fund Balance 31,916,826 29,087,081 21,289,637 Components of Fund Balance: Revolving Cash & Stores Inventory 200,000 200,000 200,000 First Interim Report: $14,455,886 Assigned - Board Designated 1% 1,826,042 1,947,406 2,031,918 Second Interim Report: $21,289,637 Assigned – LCFF Gap Funding 2,979,416 4,715,392 Net change in projected Unrestricted Assigned – Mandate Reimbursement 3,113,910 3,113,910 Fund Balance $6,833,751 Economic Uncertainties – 3% 5,478,126 5,842,218 6,095,752 Unappropriated Amount 24,412,658 15,004,131 5,132,665 Total : 31,916,826 29,087,081 21,289,637
Change continues Charter school pass-through revenues to be removed Steps to LCFF target are uncertain Governor’s budget May revision
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