Transcript General Fund – Fund 01 - Plumas Elementary School District

Plumas Lake Elementary School District
2013-14 Budget Adoption Presentation
June 20, 2013
Each student will reach their fullest potential as we strive for District excellence through
sound leadership, effective communication, accountability, and investment in our staff.
Financial Reporting Cycle
Budget
development
is a
continuous
process
• Budget is developed based on assumptions in June;
• Assumptions are usually based on the information in the May Revise
• Assumptions change during the year and we are required to file two interim reports
during the year:
• First Interim – Due December 15, 2013
• Second Interim – Due March 15, 2014
• Budget Timeline:
• Governor released his Budget Proposal for 2013-14 in January
• Governor released the May Revise in May, which is based on updated revenue and
expenditure data
• Legislature met its constitutional deadline and passed the 2013-14 budget and
trailer bills on June 15
• Changes how schools receive State Aid – Local Control Funding
Formula
• Every district has a unique target base grant that will restore funding
to 2007-08 funding levels
• Districts will move toward the target each year
• Governor will sign or veto budget bill
• We won’t have budget details until July 2012
• Annual financial reporting:
• Budget Adoption – Due July 1, 2013
• First Interim – Due December 16, 2013
• Second Interim – Due March 17, 2014
• Unaudited Actuals – Due September 15, 2014
Budget Assumptions
2012-13 Budget at
Second Interim
2012-13 Estimated
Actuals – Budget
Development
2013-14 Budget
Development
Statutory COLA
3.24%
3.24%
1.565%
Deficit Factor
22.272%
$0.77728 per $1.00
22.272%
$0.77728 per $1.00
18.997%
$0.81003 per $1.00
Revenue Limit (RL) w/ COLA
RL w/ deficit
Loss per ADA
$6,912.36
$5,372.84
$1,539.74
$6,912.36
$5,372.84
$1,539.74
$7,013.26
$5,680.95
$1,332.31
State Categorical Programs
COLA
0
0
0
Ed Jobs Funds ($222,813 final
$12K
$12K
Federal Funds COLA
0
0
0
Average Daily Attendance (ADA)
1045 K-8 plus 6.19
County – 1051.19
1050.5 K-8 plus 6.68
County – 1056.68
1050.5 K-8 plus 6.68
County – 1056.68
Lottery Base
Lottery Prop 20
$124.25
$30.00
$124.00
$30.00
$124.00
$30.00
entitlement)
Budget Assumptions (continued)
Reserves
Set aside five percent for economic
uncertainty
Indirect
Costs
Categorical Programs –
7.29 percent
Commit funds for one Certificates of
Participation (COP) Debt Service Payment
Cafeteria Fund – 5.31 percent
Assign funds for Local Control Funding
Formula – possible decrease in revenue
Projected Enrollment as of 6/18/13
TK
K
1
2
3
4
5
6
7
8
CB
14
60
43
64
49
39
38
307
Rio
20
59
61
82
82
65
74
443
SDC
5
RM
Total (SDC
included in last
column only)
Total
34
119
104
146
131
104
112
121
111
92
324
121
111
92
1079
• We can use current year projections or prior year P2 data for Revenue Limit
calculations.
▫ Prior year ADA, i.e., 2012-13 P2 Data for Revenue Limit calculations:
 1050.50 District K-8
 6.18 County SDC
 1056.68 Total
▫ Projected District K-8 ADA based on current enrollment projections:
 1079 x 97.0% = 1046.6
 6.18 County SDC
 1052.81 Total
Plumas Lake ESD Organizational Chart
Governing Board
Superintendent
Administrative
Assistant
Program Technician
Computer Technician
Principal
Site Staff
Principal
Site Staff
Director
FMOT
Principal
Site Staff
Director
Curriculum/Instruction and
Sp Ed
FMOT
Secretary
School Psychologist
Groundskeepers/Maintenance
(2 positions)
Maintenance
Worker
Site Sp
Ed Staff
Bus
Drivers/Custodians
Account
Technicians
Sp Ed
Secretary
Food Services
Manager
Site Food
Services
Workers
Academic
Coach
Site Custodians
Director of
Business Services
Counselor
Site Staff
Cobblestone
Rio Del Oro
Riverside
Meadows
Office
Administrator
Site Secretary
Administrator
Site Secretary
Office Clerk (3 hrs)
Administrator
Site Secretary
Office Tech (8 hrs)
Regular Classroom
Teachers
15 FTE Teachers
(includes TK classroom)
20 FTE Teachers
12 FTE Teachers
Special Ed
1 FTE Teacher
2 Paras Learning Center (LC)
2 FTE Teachers
2 Paras SDC
2 Paras LC
1 Paras One-on-One
1 FTE Teacher
4 Paras LC
1 Para One-on-One
Other
0.4 FTE PE Teacher
0.375 FTE Library
0.8125 FTE TK Para
0.6 FTE PE Teacher
0.375 FTE Library Clerk
0.8125 FTE TK Para
2 FTE PE Teacher
0.4 FTE Band Teacher
0.375 FTE Library Clerk
Yard Duty/Campus
Supervision
6 hours Yard Duty
6 hours Yard Duty
2 hours Crossing Guard
1.75 hours Yard Duty
5.5 hours Campus Monitor
Custodial
1.875 FTE
2 FTE
2 FTE
Shared positions
Health Clerk – 6 hours
Academic Coach – 1 FTE
Counselor – 1 FTE
Psychologist – 1 FTE
Local Control Funding Formula
• Local Control Funding Formula (LCFF) will replace revenue limits
• Most categoricals will now be included in the formula (see slide with Tier III
categoricals)
• Economic Impact Aid and Class-Size Reduction will also be a part of the LCFF
• Categoricals that are excluded:
▫
▫
▫
▫
Transportation
Targeted Instructional Improvement Grant (TIIG)
Special Ed
Child Nutrition
• Transportation and Targeted Instructional Improvement Grants will be addons and can be used for any educational purpose
Local Control Funding Formula
• Districts will receive a base grant amount based on grade-level
• Adjustments will be made for class size reduction
• Districts will receive supplemental funding based on percentage of low income,
English learners and students in foster youth
K-3
4-6
7-8
Base Grant Amount (based on May Revise)
$6,845
$6,947
$7,154
Adjustment Factors (Class size reduction)
$712
Enrollment eligibility (percent low income,
English learners, or in foster youth)
40%
40%
40%
Supplemental (35%) for English learners,
low income and in foster youth
$548
$556
$572
Concentration (35%) for English learners,
low income and in foster youth above 50%
-
-
-
Local Control Funding Formula
K-3
4-6
7-8
Amount per grade level
$8,104
$7,503
$7,726
Enrollment
494.12
360.23
196.15
$4,004,586
$2,702,719
$1,515,518
Add TIIG $4,433
Add Transportation $48,697
Total Funding $8,275,953
Revenue Limit and Categoricals
Revenue Limit Sources (2012-13)
$6,229,268
Economic Impact Aid
$43,757
Class Size Reduction
$457,317
Tier III Categoricals
$251,309
Targeted Instructional Improvement
$4,433
Transportation
$48,697
Total
$7,034,781
Districts will receive 11.75% of the gap between the LCFF and RL
calculations methods:
$8,275,953 - $7,034,781 = $1,241,172 x 11.75% = $145,838
Revenue Limit Calculations
• Revenue Limit Calculations
▫ Used the School Services of California Dartboard
assumptions to calculate revenue limit
▫ Will make adjustments once there is more
information available
 California Department of Education will have to
make changes to the software
Revenue Sources
Revenue
Source
2012-13
Second
Interim
Budget
2012-13
Estimated
Actuals
Budget
2013-14
Budget
Variance
(Est Act vs
Budget)
Note
Revenue
Limit Sources
$6,195,621
$6,229,268
$6,529,561
4.8%
Federal
Revenue
$300,873
$305,960
$277,734
-9.2%
Sequester cuts, no
Ed Jobs funding
Other State
Revenue
$1,033,966
$1,031,176
$1,047,997
1.6%
Mandated costs
block grant
Other Local
Revenue
$487,567
$492,894
$491,348
-0.3%
Less interest and
misc. revenue
Interfund
Transfers In
$26,300
$26,300
$23,000
-12.5%
CFD Admin costs
Total
Revenue
$8,044,327
$8,085,598
$8,369,640
-3.6%
Federal Revenue
• No Child Left Behind (NCLB) Funding
▫ Title I Improving the Academic Achievement of the
Disadvantaged Part 1 – $76,670
▫ Title II Preparing, Training, and Recruiting High Quality
Teachers and Principals - $6,078
▫ Title III – English Language Acquisition, Language Enhancement
and Academic Achievement for Limited English Proficient (LEP)
Students - $6,532
• Special Education
▫ Local Assistance Grants - $83,261
▫ SPED IDEA Mental Health funds - $12,693
• Federal Impact Aid (unrestricted) – $32,500
• Medi-Cal Administrative Activities (MAA) - $35,000
• Medi-Cal Option Billing (grant thru YCOE) - $30,000
Other State Revenue
Prop 20 Lottery
Funds - $30 per
ADA = $32,250
Economic Impact Aid $43,757
Lottery
(unrestricted) - $124
per ADA = $133,300
Tier III Categoricals and
other State Revenue $283,276
Class-Size Reduction
K-3 - $457,317
Transportation $48,697
Other State Revenue - Tier III
Categorical Flexibility
Education Code Section 42605 allows complete flexibility in the use of
funds appropriated in the State budget for fiscal years 2008-09 through
2014-15 for numerous programs and can be used for any educational
purpose. Grants included in this flexibility are:
Closed Programs:
•Administrator Training - $4,849
•Art and Music Block Grant - $15,115
•California Peer Assistance & Review Program - $5,148
•CAHSEE Intensive Instruction - $800
•Community Based English Tutoring- $4,478
•Math and Reading Professional Development - $9,018
•Professional Development Block Grant - $11,597
•School Safety and Violence Prevention - $7,990
•Supplemental Hourly Programs - $24,143
•Targeted Instructional Improvement - $3,914
Tier III Categorical Flexibility
(continued)
• Closed Programs (continued)
• Gifted and Talented Education – $66,473
• School Library Improvement Block Grant - $10,437
• Programs closed but operating with original intent of program
•
Instructional Materials Funding Realignment Program - $56,959 - funding is used to
purchase approved curriculum
•
Deferred Maintenance - $33,382
• Routine Restricted Maintenance – flexibility to transfer one percent of
expenditures (previously was three percent of General Fund expenditures)
NOTE: With new funding method, all these categoricals with the
exception of Targeted Instructional Improvement Grant will
become a part of the LCFF funding formula.
Other Local Revenue and Other
Financing Sources
• Other Local Revenue
▫
▫
▫
▫
▫
Interest Earnings - $20,000
Leases and Rentals – $56,300
Other revenue $9,800
Bus Fees - $13,000
Sp Ed Transfer from YCOE – $392,248
• Other Financing Sources
▫ Interfund Transfers In - $23,000 (From Fund 52
for CFD Admin costs)
Expenditures
2012-13 Second
Interim Budget
2012-13
Estimated
Actuals Budget
2013-14
Budget
Adoption
Change
Certificated Staff
$3,744,745
$3,860,051
$3,887,597
0.7%
Classified Salaries
$1,313,915
1,346,178
1,396,058
3.7%
Employee Benefits
$1,585,382
$1,604,179
$1,593,126
-0.7%
Books and Supplies
$388,352
$421,884
$337,067
-20.1%
Services/Op Expenses
$1,037,871
$1,027,339
$1,014,091
-1.3%
Capital Outlay
$14,600
$0
$0
Other Outgo
$273,100
$265,693
$268,852
1.2%
Indirect
($9,734)
($9,916)
($12,486)
25.9%
Interfund Transfers
Out
$24,503
$28,172
$38,711
37.4%
Total Expenditures
$8,372,734
$8,543,580
$8,523,014
Salaries and Benefits
Category
2012-13
Budget
Second
Interim
2012-13
Budget
Estimated
Actuals
2013-14
Budget
Adoption
Change
Notes
Certificated
$3,744,745
$3,860,051
$3,887,597
0.7%
Includes step increase
Classified
$1,313,915
$1,346,178
$1,396,056
3.7%
Includes step increase
Benefits
$1,585,382
$1,604,179
$1,593,126
-0.7%
District contribution:
STRS
$304,880
$313,072
$319,927
8.25%
PERS
$138,037
$140,062
$145,852
11.417%
OASDI/Medicare
$142,173
$146,655
$152,149
6.2%/1.45%
$825,876
$825,074
$828,768
$10,000 per FTE
Unemployment
$62,069
$63,667
$11,021
0.05%
Worker’s Comp
$96,192
$98,882
$117,075
2.2246%
PERS
Reduction/Other
$$16,155
$16,667
$18,334
1.603%
Health
Books and Supplies
Category
2012-13
Budget
Second
Interim
2012-13
Budget
Estimated
Actuals
2013-14
Budget
Adoption
Change
Note
Approved
Textbooks and
Core Curricula
Materials
$73,616
$77,370
$20,000
-74.2%
No adoptions
planned
Books and other
reference
materials
$9,664
$16,295
$10,350
-36.5
Materials and
supplies
$233,841
$247,079
$205,217
1.3%
Non-capitalized
Equipment
$71,231
$81,140
$56,500
-30.4%
Total
$388,352
$421,884
$337,067
-20%
SmartBoards
One-Time
Expenditures
SmartBoards and clickers – $45,500 ( Title I and
Lottery)
Total
$50,500
Transitional kindergarten startup - $5,000
Services and Other Operating Expenditures
Category
2012-13 Budget
Second Interim
2012-13 Budget
Estimated
Actuals
2013-14
Budget
Change
Subagreements
$96,450
$95,399
$67,000
-29.8%
Travel and
Conferences
$42,528
$41,105
$42,022
2.2%
Dues and
Memberships
$4,475
$4,475
$5,040
12.6%
Insurance
$85,243
$85,243
$85,305
0.1%
Ops/Housekeeping
$269,129
$269,129
$277,980
3.3%
Rentals/Leases
$85,220
$82,562
$88,720
7.1%
Directs Costs
Interfund
($34,996)
($34,996)
($35,774)
2.2%
Consulting/Professio
nal
$438,561
$433,039
$435,938
0.7%
Communications
$51,261
$51,083
$47,860
-6.3%
Total
$1,037,871
$1,027,339
$1,014,091
-1.3%
Other Outgo
Category
2012-13
Budget
Second
Interim
2012-13
Budget
Estimated
Actuals
2013-14
Budget
Change
Payments to
County
Offices
$266,500
$259,093
$268,852
3.8%
Debt Service
$6,600
$6,600
Transfers of
Indirect Fund 13
($9,734)
($9,916)
-100%
($12,468)
25.9%
Contracted Services and Other Outgo
• Health Services
▫ Nurse – $30,000
• Special Education
▫
▫
▫
▫
Occupational Therapist = $50,000
Behavior Specialist - $36,336
Special Behavior Assessments - $1,000
Excess Program Costs - $268,852
 Yuba County Office of Education
 Sutter County Superintendent of Schools
▫ Transportation – Marysville Joint Unified School District - $51,000
• Technology
▫ Advanced Technology Group - $55,000
▫ Yuba County Office of Education - $79,400
• Professional Development
▫ District-wide - $37,290
• Audit - $15,000
• Legal Counsel - $13,500
Contributions to Restricted Programs
Category
Transportation
Routine
Restricted
Maintenance
Revenue
$61,697
No State Funding
$475,509
Contribution from unrestricted &
RL transfer (SPED only)
$102,004
$310,289
$596,547
Total Revenue
$163,701
$310,289
$1,072,056
Certificated Staff
Special
Education
$300,675
Classified Staff
$45,348
$138,290
$222,951
Benefits
$20,528
$58,109
$158,290
Materials & Supplies
17
$73,600
$2,450
Services & Other Operating
Expenditures
$11,010
$19,207
$66,550
SPED Transportation Costs
$30,000
Excess Program
Costs/Indirect
$9,920
$21,083
$52,288
Total Expenditures
$149,173
$310,289
$1,072,056
$268,852
General Fund Activity and Reserves
Category
2012-13 Budget
Second Interim
2012-13 Budget
Estimated Actuals
2013-14
Budget
Beginning Balance
$3,077,693
$3,077,693
$2,619,711
Revenue
$8,044,327
$8,085,598
$8,369,640
Expenditures
$8,372,734
$8,543,580
$8,523,014
Net Increase/Decrease
($328,407)
($457,982)
($153,374)
Ending Fund Balance
$2,749,286
$2,619,711
$2,466,337
$425,864
$425,001
Revolving Cash $5,100
$5,100
$5,100
Restricted Funds $80,444
$75,443
$57.955
Committed - COP Debt $410,188
Service
$410,188
$410,188
Assigned - Salary Increase $115 355
$115,355
Economic Uncertainty $417,322
Local Control Funding
Formula Impact
Available for budget $1,720,878
shortfalls
$193,730
$193,700
$1,394,061
$1,374,393
Multi-Year Projections (MYP) Budget Assumptions
2013-14 Budget
Development
2014-15
Projection
2015-16
Projection
Statutory COLA
1.565%
1.80%
2.20%
Deficit Factor
18.997%
$0.81003 per $1.00
18.997%
$0.81003 per $1.00
18.997%
$0.81003 per $1.00
Revenue Limit (RL) w/ COLA
RL w/ deficit
Loss per ADA
$7,013.36
$5,681.03
$1,332.33
$7,131,.36
$5,776.62
$1,354.74
$7,278.36
$5,895.69
$1,382.67
State Categorical Programs
COLA
0
1.8%
2.2%
Federal Funds COLA
0
0
0
Average Daily Attendance (ADA)
1050.5 K-8 plus 6.18
County = 1056.68
1050.5 K-8 plus 6.18
County = 1056.68
1050.5 K-8 plus 6.18
County = 1056.68
Lottery Base
Lottery Prop 20
$124
$30
$124
$30
$124
$30
California Consumer Price Index
2.3%%
2.20%
2.30%
MYP Budget Assumptions (continued)
• Salaries and Benefits:
▫
▫
▫
▫
No changes to staffing
Included step increase for all eligible employees
No changes to statutory benefits
Health, Dental, Vision contribution – $10,000 per
FTE
MYP Assumptions That May Impact the Budget
Issue
Current
Assumption
Current Status
Impact
Enrollment/ADA
and Revenue
Limit
2012-13 P2 Data
1050.50
Enrollment as of 6/18/13
is 1079 x 97% = 1046.63
ADA
Unknown
Current law
allows district
to use prior
year ADA
Local Control
Funding Formula
Using School Services of
California (SSC)
Dartboard for Revenue
Limit Calculations
Based on information from
SSC District will receive
less funding with Local
Control Funding Formula
($193,700)
Less State Aid
Multi-Year Projections
2012-13 Budget
2013-14 Projection
2014-15 Projection
Beginning Fund Balance
$2,619,711
$2,466,337
$2,199,626
Revenue
$8,369,641
$8,492,005
$8,673,753
Expenditures
$8,523,014
$8,758,717
$8,894,740
Net Increase (Decrease) in
Fund Balance
($153,374)
($266,712)
($220,987)
Ending Fund Balance
$2,466,337
$2,199,626
$1,978,639
Revolving Fund & Restricted
$63,055
$63,055
$63,055
Commitment- COP
$410,188
$409,563
$408,788
Reserved for Economic
Uncertainty
$425,001
$437,936
$444,737
Assigned – Local Control
Funding Formula Impact
$193,700
Available for budget shortfalls
$1,374,393
$1,289,072
$1,062,057
Cash
• Current cash balance in county treasurer for the
General Fund - $538,052 (as of May 31, 2013)
• Deferrals continue to be a concern – we monitor cash
closely every month and will continue to do so
throughout the year:
▫ State Budget includes funding to buy back deferrals
▫ No information available on payment schedule
• Education Protection Account (EPA) – approximately
20 percent of our State Aid
▫ 2012-13 – the 20 percent will be released June 27, 2013
▫ 2013-14 – will be paid quarterly
Fund 13 Assumptions
• Revenue
• Food Sales
• Paid lunches will increase by $0.25
• Decreased food sales due based on actuals for this year
• Catering services - $33,462
• Contribution from General Fund - $38,711
• Expenditures
• Salaries and benefits
• Step increases for all staff
• Includes additional position – Catering Lead
• Food and supplies – additional cost for catering services
• Transfer of Direct Costs– Garbage (40 percent) and PG&E (15
percent)
• Indirect costs – 5.31 percent
Fund 13 - Cafeteria Fund
Category
2012-13
Budget
Second
Interim
2012-13
Budget
Estimated
Actuals
2013-14
Budget
Change
Beginning Balance
$500
$500
$500
Revenue
$410,600
$410,600
$427,512
4.1%
Expenditures
$434,403
$438,772
$466,223
6.3%
Net Increase (Decrease) in
Fund Balance
($23,803)
($28,172)
($38,711)
37.4%
Transfer In (From General
Fund)
$24,503
$28,172
$38,711
Ending Balance
$500
$500
$500
Fund 14 Assumptions and Summary
• Deferred Maintenance Program is a Tier III Categorical
▫ Program was closed in 2008-09
▫ Funds can be used for any educational purpose
 State funding was transferred under flexibility in 2008-09
 Funding was deposited in Fund 01 since 2008-09
▫ State funding is budgeted in Fund 14 for 2013-14
• Fund balance was committed at 2011-12 at First Interim
for Deferred Maintenance Projects
• Revenue
▫ State funding and interest
• Expenditures
▫ Riverside Meadows Paint Project and Rio Seal Coat Project
Fund 14 - Deferred Maintenance
Category
2012-13
Budget Second
Interim
2012-13
Budget
Estimated
Actuals
2013-14
Budget
Change
Beginning Balance
$100,139
$100,139
$86,239
Revenue
$1,100
$1,100
$34,482
3,034.7%
Expenditures
$15,000
$15,000
$35,000
133.3%
Net Increase
(Decrease) in Fund
Balance
($13,900)
($13,900)
($518)
-96.3%
Ending Fund Balance
$86,239
$86,239
$85,721
Committed –
Deferred
Maintenance
$86,239
$86,239
$85,721
Fund 25 Assumptions and Summary –
• Revenue
▫ Impact Fees and interest
Developer Impact Fees Collected
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
$27K
$196K
$250K
$239K
$170K
$76,957
▫ Transfer from Fund 52 - $526,035
• Expenditures
▫ Debt Service Payments
 COP Principal and Interest Payment = $410,188
 Refi COP Interest only payment = $152,013
 Consulting fees - $21,500 for fee study, disclosures, trustee fees and
developer negotiations
Fund 25 – Capital Facilities Fund
Category
2012-13 Budget
Second Interim
2012-13 Budget
Estimated
Actuals
2013-14
Budget
Beginning Balance
$518,966
$518,966
$18,792
Revenue
$60,005
$70,102
$59,445
-15.2%
Expenditures
$8,415,34
$8,415,344
$585,480
-93.0%
Net Increase (Decrease)
in Fund Balance
($8,355,339)
($8,345,242)
($526,035)
-93.7%
Interfund Transfers In
$169,702
$139,075
$526,035
278.2%
Transfers Out/Others
Uses
$12,864,007
$12,864,007
0
-100%
Ending Fund Balance
$39,322
$500,713
$18,792
Cash w/ fiscal agent
$39,322
$6,512
$6,512
$12,280
$12,280
Assigned – Capital
Facilities projects
Change
Fund 52 Assumptions and Summary –
• Revenue - $682,010
•
•
Community Facilities District (CFD) Mello Roos taxes are collected in January
and June:
• CFD #1 - $320 per home annual for total of $506,560
• CFD #2 - $400 per home annual for total of $170,000
Interest earnings for cash at county and cash with fiscal agent
• Expenditures - $1,092,413
•
•
Report fees - $600
Debt Service payments
• CFD #1-2005- Principal and Interest debt service payment $306,720
• CFD #2 2007- Principal and Interest debt service payment $90,672
• CFD Administrative Costs $23,000 – Administrative costs paid out of General
Fund and reimbursed from Fund 52
• Transfer to Fund 25 for COP payments - $526,035
Other notes: Cash flow will be an issue. We will probably have to loan funds from
the General Fund to make the debt service payments for the February payments.
Fund 52 – Debt Service Fund
Category
2012-13
Second Interim
2012-13 Budget
Estimated
Actuals
2013-14 Budget
Change
Beginning Balance
$1,021,873
$1,021,873
$1,145,390
Revenue
$682,300
$682,505
$681,572
-0.1%
Expenditures
$2,972,620
$2,972,620
$397,392
-86.6%
Interfund Transfers
In
$2,579,007
$2,579,007
0
-100%
Interfund Transfers
Out
$196,002
$165,375
$549,035
232%
Net Increase
(Decrease)
$92,715
$123,517
($264,855)
-314.4%
Ending Fund
Balance
$1,114,588
$1,145,390
$880,535
Cash w/ fiscal agent
$402,658
$402,559
$402,559
Assigned – Debt
Service
$711,929
$742,831
$477,976
Fund 52 Multi-Year Projections
2012-13
2013-14
2014-15
Beginning Balance
$1,021,873
$1,145,390
$800,535
Revenue
$682,505
$681,572
$681,572
Expenditures
$2,972,620
$397,392
$396,916
Transfers In
$2,579,007
Transfer Out
$165,375
$549,035
$599,856
Net Increase or
decrease in fund
$123,517
($264,855)
($315,200)
Ending Fund
Balance
$1,145,390
$800,535
$565,335
Cash with fiscal
agent
$402,559
$402,559
$402,559
Funds available for
Aug/Sept payments
$742,831
$477,976
$162,776
Debt Service Schedule
Debt Service
Due Date
Principal
Interest
Total Due
CFD #1 – Series
2005
August 1
$115,000
$97,233
$209,488
CFD #2 – Series
August 1
$25,000
$33,188
$58,188
COP 2012
September 1
$76,006
$76,006
COP 2012 Refi
September 1
$113,981
$298,981
$185,000
CASH
NEEDED
$642,663
CFD #1 – Series
2005
February 1
$97,233
$97,233
CFD #2 – Series
February 1
$32,484
$32,484
COP 2012
March 1
$76,006
$76,006
COP 2012 Refi
March 1
$111,206
$111,206
CASH
NEEDED
$316,929
Any questions?