twin rivers unified 2013/14 adopted budget presented to the board of trustees june 25, 2013 by kate...

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TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

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Page 1: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET

Presented to the Board of Trustees June 25, 2013

By Kate Ingersoll, Executive Director, Fiscal Services

Page 2: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2013/14 GENERAL FUND

Beginning Fund Balance $52,010,949

Revenues 240,732,522

Expenditures 236,439,394

Net Increase/(Decrease) Fund Balance 4,293,128

Ending Fund Balance $56,304,077

Components of Ending Fund Balance:

Nonspendable $455,000

Restricted 426,003

Assigned 40,423,074

Unassigned - Economic Uncertainties 15,000,000Unassigned (Available) Fund Balance $0

Page 3: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2013/14 GENERAL FUND REVENUES

Revenue Limit $153,833,149State Aid 99,852,374Property Taxes 25,384,231Education Protection Account 28,596,544

Federal 25,526,313State 48,615,305Local & Other 12,757,755

Page 4: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

20,000

21,000

22,000

23,000

24,000

09/10 Actual 10/11 Actual 11/12 Actual 12/13 Actual 13/14 ProjectionP-2 ADA (Not Including SCOE) 23,870 23,841 23,210 23,142 22,826Rev Lim ADA (Not Including SCOE) 23,926 23,841 23,495 23,142 22,890

2013/14 REVENUE LIMIT ADA VS P2 ADA – K/12

Page 5: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2013-14 REVENUE LIMIT 1.565% Cost of Living

Adjustment

Apply 2013-14 deficit of18.997% (3.275% decrease over the prior year) to our undeficited 2013-14 revenue limit (RL) per ADA

Twin Rivers USD

Loss of $1,453 per ADA

$1,453 x 22,890 ADA = $33,259,170 loss of revenue

2013-14 Revenue LimitBefore Deficit

2013-14 Revenue Limit AfterDeficit and Cut

2013-14

Revenue Limit

Funding

Deficit Factor

Reduction$1,453 (18.997%)

$7,648 $7,648

$6,195Funded RL= $7,648 – ($7,648 x 0.18997)= $7,648 – $1,453= $6,195

Page 6: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

1,500

1,600

1,700

1,800

1,900

2,000

2,100

09/10 Actual 10/11 Actual 11/12 Actual 12/13 Actual 13/14Projection

P-2 ADA 1,730 1,822 2,001 2,032 2,052

2013/14 P2 ADA - CHARTER

Page 7: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

FEDERAL REVENUE:

10% reduction to Title I Part A and 5% reduction to Special Education (Federal Sequestration)

One-time funding eliminated

Deferred revenue:

o Estimated at $10 milliono Only $837 thousand is reflected in the Adopted

Budgeto Remainder will be budgeted at First Interim

once the actuals are known

REVENUES

Page 8: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

REVENUES - CONTINUED

STATE REVENUE: Home-to-School Transportation, Class Size Reduction (CSR),

Economic Impact Aid (EIA) and School Library Improvement Block Grant (SLIBG) remain the same as prior year

No Mandated Cost reimbursements One-time funding eliminated Lottery per student rate is $154 SBx3 4 Flexibility of Tier III programs is $9.8 million

LOCAL REVENUE: Interest Income One-time funding eliminated State Special Ed – no COLA or reduction

Page 9: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2013/14 GENERAL FUND EXPENDITURES

Certificated $108,909,167Classified 39,925,644Employee Benefits 41,141,887Books & Supplies 12,146,794Services 34,123,963Capital & Other 191,939

Page 10: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

CERTIFICATED SALARIES: Current position control Unrestricted vs. restricted

CLASSIFIED SALARIES: Current position control Unrestricted vs. restricted

2012/2013 CATEGORICAL CARRYOVER Not included

LUMP SUM $35.61 elementary, $60.01 junior high, $97.86 high

school

RRMA @ 2.3% CONTRIBUTIONS

Transportation Special Education Community Day School

EXPENDITURES

Page 11: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

OTHER FUNDS

Adult Education Fund

Child Development Fund

Cafeteria Fund

Deferred Maintenance Fund

Special Reserve Fund for Other Than Capital Outlay Projects

Special Reserve Fund for Post-Employment

Building Fund

Capital Facilities Fund-Developer Fees

Special Reserve Fund for Capital Outlay Projects

Other Enterprise Fund

Retiree Benefit Fund

Page 12: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2014/15 GENERAL FUND - PROJECTIONS

Beginning Fund Balance $56,304,077

Revenues 242,121,476

Expenditures 243,758,281

Net Increase/(Decrease) Fund Balance (1,636,805)

Ending Fund Balance $54,667,272

Components of Ending Fund Balance:

Nonspendable $455,000

Restricted 426,003

Assigned 38,786,269

Unassigned - Economic Uncertainties 15,000,000Unassigned (Available) Fund Balance $0

Page 13: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

2015/16 GENERAL FUND – PROJECTONS

Beginning Fund Balance $54,667,272

Revenues 245,256,491

Expenditures 248,596,493

Net Increase/(Decrease) Fund Balance (3,340,002)

Ending Fund Balance $51,327,270

Components of Ending Fund Balance:

Nonspendable $455,000

Restricted 426,003

Assigned 35,446,267

Unassigned - Economic Uncertainties 15,000,000Unassigned (Available) Fund Balance $0

Page 14: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

SACS BUDGET FORMS Budget Certification Average Daily Attendance Revenue Limit Summary Cash Flow Projection Multi Year Projections – General Fund Summary of Interfund Activities Current Expense Formula/Minimum Classroom

Compensation Schedule of Capital Assets – 2012/13 Schedule of Long-Term Liabilities – 2012/13 Other Funds Criteria and Standards

Page 15: TWIN RIVERS UNIFIED 2013/14 ADOPTED BUDGET Presented to the Board of Trustees June 25, 2013 By Kate Ingersoll, Executive Director, Fiscal Services

NEXT STEPS Staff will present a budget revision to the

Board within 45 days of the State adopting their 2013/14 Budget.

Any questions?