Ramona Unified School District

First Interim Report

December 18, 2008

Interim Reports

What is an Interim Report? A report of the district’s financial status,

including revised projections and activity through a certain point in the fiscal year

Why have an Interim Report? For review of the financial condition of district To provide status report to interested parties To determine whether revisions are needed To determine if district will meet financial

obligations

First Interim Report

Must bring budget to the Board four times a year July 1st – Adopted Budget of the year December 15th -- First Interim Report March 15th -- Second Interim Report September 15th -- Unaudited Actuals

Keep Board apprised of budget assumptions and new developments

Budget

Budget shows a plan for spending Budget constantly changes as new

information is received and incorporated into adopted Budget

Most change occurs from the adoption of the Budget on July 1 until the First Interim State of California budget is not even signed

The Numbers

Total Revenues $54,818,681 Total Expenses $58,810,120 Difference ($ 3,991,439) Beginning Balance $ 5,762,318 Ending Balance* $ 1,770,879 Beginning Unrestricted $ 3,011,630 Ending Unrestricted* $ 1,770,879

*Projected Ending Balances

The Numbers

Components of the ending fund balance$1,770,879

2009-2010 Budget $ 1,200,000 Accrued Vacation $ 490,679 Other $ 26,416 Remaining Balance $ 53,784

Percentage Reserve $1,764,304 to meet required 3% reserve 3.01% general fund projected ending balance

The Numbers

RUSD is projected to deficit spend by $3.9 Million

However, carryover from 2007-2008 must be factored into the current budget, which inflates your expenditures without adding revenues to offset them, thus creating deficit spending

Carryover creates a big difference in the expenditure budgets from the July adopted budget to the First Interim Report

Carryover Factored Into Budget

Carryover in Ending Balance 2008-09 Budget $1,200,000 Vacation Balance $ 490,679 Other $ 66,300 Carryover in Budget Site Block, API, GPA $ 4,457 Site/Dept. Carryover $ 606,110 CASHSEE $ 76,188 Montessori Training $ 6,400 One-Time Bonus $ 397,688 Limited English (LEP) $ 73,616

Carryover Factored Into Budget

Lottery $428,053 State Instructional Material $612,898 Arts, Music P.E. Grants $212,355 School/Library Impr. $157,001 RRMA $509,378 Site Block Grants $104,596 School Safety Grants $ 89,730 Economic Impact Aid (EIA)$ 98,080 Medical $148,514 Other Restricted Programs$240,280

Carryover Factored Into Budget

Other current year adjustments include: 6.5% increase to many State categorical

programs Increase in federal dollars, more specifically

21st Century Program for RHS and MHS Donation accounts for all the schools

The majority of these dollars are expended for books and supplies object code

Major Changes

State of California 2008-2009 Budget Adoption 0.68% COLA to Revenue Limit 6.5% increase to State categorical programs

School is back in session, so enrollment numbers are tied into staffing needs

Retirees, replaced positions, and new hires into salary schedule

Salary settlements have been incorporated Health benefits have been finalized Dollars in ending balance have been distributed to

sites and departments

Looking Ahead

Normally, the Second Interim Report goes to the Board in March Will look at assumptions and make

adjustments

The State of California Financial Crisis

January 13th 2009-2010 budget workshop by School Services of California, Inc.

Conclusion