fy 07/08 3 rd interim may 27, 2008
DESCRIPTION
FY 07/08 3 rd Interim May 27, 2008. Changes from 2nd Interim to Projected Year Totals. Changes from 2nd Interim to Projected Year Totals. Components of Fund Balance. Multi-Year Projections Major Assumptions. Multi-Year Projections Major Assumptions. Multi-Year Projections. - PowerPoint PPT PresentationTRANSCRIPT
FY 07/08 3rd Interim
May 27, 2008
Changes from 2nd Interim to Projected Year Totals
Unrestricted Restricted Combined
Revenues
2nd Interim
New/Revised
One Time
FY07/08 Projected Year Totals
62,681,596
595,060
115,383
63,392,039
22,601,435
149,356
514,741
23,265,532
85,283,031
744,416
630,124
86,657,571
Expenditures
2nd Interim
Special Education
New/Revised
One Time
Net Adjustments
FY07/08 Projected Year Totals
52,695,968
-
-
-
(134,799)
52,561,169
35,703,988
301,286
151,218
514,741
(53,521)
36,617,712
88,399,956
301,286
151,218
514,741
(188,320)
89,178,881
Changes from 2nd Interim to Projected Year Totals
Unrestricted Restricted CombinedOther Sources/(Uses)2nd Interim
Net Adjustments
FY07/08 Projected Year Totals
(7,947,306)
(301,286)
(8,248,592)
7,511,400
301,712
7,813,112
(435,906)
426
(435,480)
Net Increase (Decrease) in Fund Balance
Beginning Balance
Ending Balance
2,582,278
2,074,863
4,657,141
(5,539,068)
5,539,068
-
(2,956,790)
7,613,931
4,657,141
Components of Fund Balance
Unrestricted Restricted Combined
Ending Fund Balance
Revolving Cash
Legally Restricted
For Economic Uncertainties
Other Designation: Mandate Set Aside
Other Designation: P2 ADA
Available Unrestricted Reserve
4,657,141
50,000
-
2,688,722
1,080,000
-
838,419
-
-
-
-
-
-
-
4,657,141
50,000
-
2,688,722
1,080,000
-
838,419
Multi-Year Projections Major Assumptions
Categories 2006-2007 2007-2008 2008-2009 2009-2010
Enrollment and ADA
District Enrollment (CBEDS) 9,9129,912 9,954 9,799 9,717
District ADA – Projected P2 ADA 9,516 9,607 9,397 9,342
District ADA – Funded P2 ADA 9,5169,516 9,607 9,607 9,397
Revenue
Revenue Limit COLA 5.92% 4.53% 4.94% 3.00%
Revenue Limit Deficits 0% 0% 6.99% 6.99%
Equalization Aid Per ADA $86.88 - - -
Base Revenue Limit $5,525 $5,777 $5,641 $5,824
Federal COLA 0% 0% 0% 0%
Other State COLA 5.92% 4.53% (6.5%) 3.00%
Mandate Reimbursement $1.33M - - -
Multi-Year Projections Major Assumptions
Categories 2006-2007 2007-2008 2008-2009 2009-2010
Expenditures
Step and Column Salary Increases $0.83M $0.83M $0.83M $0.83M
FY05/06 Negotiated Salary Increase (4.7%) $5.1M $2.5M $2.5M $2.5M
FY07/08 Negotiated Salary Increase (2.0%) - $0.8M $1.1M $1.1M
FY08/09 Negotiated Salary Increase (4.0%) - - $1.9M $2.2M
Special Education Contribution $4.8M $6.0M $6.8M $7.3M
Growth in Special Education Contribution $1.2M $1.2M $0.8M $0.50M
Inflationary Increase - CPI 3.4% 3.2% 2.7% 2.5%
Indirect Cost Rate 2.93% 2.84% 3.22% 3.22%
Spending Reductions and Reallocations $0.8M $1.4M $1.5M $2.5M
Fund Balance
Mandate Reimbursement Set Aside - 1.08M - -
Multi-Year ProjectionsCategories 2006-2007 2007-2008 2008-2009 2009-2010
REVENUES
Revenue Limit Sources 53,841,719 56,245,598 54,939,495 55,438,547
Federal Revenues 5,234,677 5,886,285 5,875,441 5,875,441
Other State Revenues 15,525,256 14,362,718 13,567,237 13,925,608
Other Local Income 9,967,270 10,162,970 9,157,516 9,157,516
Total Revenues 84,568,921 86,657,571 83,539,689 84,397,112
EXPENDITURES
Salaries & Benefits 66,452,044 67,513,546 69,727,124 70,568,686
Books/Supplies & Outlay 2,612,890 7,897,805 2,260,870 2,161,433
Services & Operating Expenses 9,384,991 12,209,220 11,219,303 11,980,180
Other Outgo & Transfers 2,251,760 1,558,310 1,558,310 1,558,310
Total Expenditures 80,701,685 89,178,881 84,765,606 86,268,609
Other Sources (Uses) (579,249) (435,480) (325,480) (325,480)
Net Inc/Dec in Fund Balance 3,287,987 (2,956,790) (1,551,398) (2,196,977)
BEGINNING BALANCE 4,378,028 7,613,931 4,657,141 3,105,743
ENDING BALANCE * 7,666,016 4,657,141 3,105,743 908,767
The FY07/08 Beginning Fund Balance has been adjusted by ($52,085) to transfer restricted funds to appropriate funds.
Components of Fund Balance
FY06/07 Actuals
FY07/08 Projection
FY08/09 Projection
FY09/10 Projection
Ending Fund Balance * 7,666,016 4,657,141 3,105,743 908,767
Revolving Cash 50,000 50,000 50,000 50,000
For Economic Uncertainties 2,438,428 2,688,722 2,556,323 2,525,882
Legally Restricted Balance 5,591,153 - - -
For Other Designations
Mandate Cost Reimbursement - 1,080,000 - -
P2 ADA - - - -
Spending Reductions - - - (2,517,700)
Available Unrestricted Reserve (413,565) 838,419 499,420 850,584
The FY07/08 Beginning Fund Balance has been adjusted by ($52,085) to transfer restricted funds to appropriate funds.
Outstanding Issues that Could Impact the Budget and MYP
• FY08/09 Budget Act
• Special Education– Transportation
• Other Post Employment Benefits (OPEB)
• Measure H Parcel Tax
Food and Nutrition ServicesMulti-Year Projections
Categories2007-2008 2008-2009 2009-2010
MAJOR ASSUMPTIONS
Lunch Reimbursement Rates
Federal
Free 2.24 2.24 2.25
Reduced 1.84 1.84 1.85
Paid 0.25 0.25 0.25
State – Free & Reduced Only 0.2195 0.2195 0.2295
Commodities Dollars
Meals for Needy Served
112K
414,024
120K
427,063
125K
447,210
Capital Improvements 58K 45K 60K
Stores 94K 60K 60K
Food and Nutrition ServicesMulti-Year Projections
Categories 2007-2008 2008-2009 2009-2010
REVENUES
Federal Revenues 1,097,263 1,044,960 1,087,127
Other State Revenues 100,842 103,740 113,163
Other Local Income 631,895 784,997 784,712
Total Revenues 1,830,000 1,933,697 1,985,002
EXPENDITURES
Salaries & Benefits 1,113,395 1,142,199 1,165,043
Food and Supplies 696,455 755,923 775,000
Services & Operating Expenses 30,992 20,000 20,000
Capital Outlay 57,544 60,000 60,000
Stores (60,000) (60,000) (60,000)
Other Outgo & Transfers 59,951 61,208 61,992
Total Expenditures 1,898,337 1,979,330 2,022,035
Other Sources (Uses) - - -
Net Inc/Dec in Fund Balance (68,337) (45,633) (37,033)
BEGINNING BALANCE 184,474 116,137 70,504
ENDING BALANCE 116,137 70,504 33,471