The Accelerated Schools Financial Presentation for period ending - PowerPoint PPT Presentation

The Accelerated Schools Financial Presentation for period ending January 31, 2019

The Accelerated Schools Executive Summary for period ending January 31, 2019 Overall ▪ The School's financial position has been affected by lower than expected enrollment, coupled with a significant lower ADA and unexpected expenses for the month of January during the work stoppage. Forecasted Revenues ▪ Unrestricted funding is projected to be unfavorable $799.9k from budget due to missed enrollment target Forecasted Expenditures ▪ Certificated Salaries favorable $4.7k due to late hiring of teachers for vacant positions, and due to pledged bonuses as a result of new CBA agreement ▪ Classified Salaries favorable $269.9k due to vacant (open) positions. It also includes elements of pending SEIU agreement. ▪ Other Operating Expenses unfavorable $1,393.4k due coverage of temporary staffing (~$697k) during work stoppage and coverage of Special Education (~$270k) open positions. Other Operating Expenses have amounted to 24.7% of Total Expenditures through January 2019.

The Accelerated Schools Financial Dashboards for January 2019 Revenues thru January 2019 Average Daily Attendance (ADA) 1,800.00 1,750.00 1,700.00 1,650.00 1,600.00 1,550.00 1,500.00 1,450.00 Local Control Funding Formula 1,400.00 Federal Revenues Month 1 Month 2 Month 3 Month 4 Month 5 State Revenues Actual Budget Local Revenues Expenditures thru January 2019 Cash on Hand 36,000 Thousands 34,000 32,000 30,000 28,000 26,000 24,000 22,000 Certificated Salaries Classified Salaries 20,000 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Employee Benefits Books and Supplies Other Operating Expenses Capital Outlay County Treasury California Credit Union Revolving Other Outgo CCU Money Market Wells Fargo