Transcript Overview - Mike McMahon

FY07/08 2nd Interim
March 11, 2008
Changes from 1st Interim to
Projected Year Totals
Unrestricted
Restricted
Combined
Revenues
1st Interim
New/Revised
One Time
FY07/08 Projected Year Totals
62,054,072
482,055
145,469
62,681,596
21,701,552
701,673
198,210
22,601,435
83,755,624
1,183,728
343,679
85,283,031
Expenditures
1st Interim
Negotiated Compensation Increases
Special Education
New/Revised
One Time
Net Adjustments
FY07/08 Projected Year Totals
51,838,915
685,076
121,985
49,992
52,695,968
34,206,480
167,645
429,980
701,673
198,210
35,703,988
86,045,395
852,721
429,980
701,673
320,195
49,992
88,399,956
Changes from 1st Interim to
Projected Year Totals
Unrestricted
Restricted
Combined
Other Sources/(Uses)
1st Interim
(7,349,681)
6,913,775
(435,906)
Net Adjustments
(597,625)
597,625
-
(7,947,306)
7,511,400
(435,906)
Net Increase (Decrease) in Fund Balance
2,038,322
(5,591,153)
(3,552,831)
Beginning Balance
2,074,863
5,591,153
7,666,016
Ending Balance
4,113,185
-
4,113,185
FY06/07 Projected Year Totals
Components of Fund Balance
Unrestricted
Ending Fund Balance
Restricted
Combined
4,113,185
-
4,113,185
Revolving Cash
50,000
-
50,000
Legally Restricted
-
-
-
For Economic Uncertainties
2,665,076
-
2,665,076
Other Designation: Mandate Set Aside
1,080,000
-
1,080,000
Other Designation: P2 ADA
458,358
-
458,358
Available Unrestricted Reserve
(140,249)
-
(140,249)
Multi-Year Projections
Major Assumptions
Categories
2006-2007
2007-2008
2008-2009
2009-2010
District Enrollment (CBEDS)
9,912
9,954
9,799
9,717
District ADA – Projected
9,516
9,585
9,390
9,333
District ADA – Funded
9,516
9,585
9,585
9,390
Revenue Limit COLA
5.92%
4.53%
4.94%
3.00%
Revenue Limit Deficits
0%
0%
6.99%
6.99%
Equalization Aid Per ADA
$86.56
-
-
-
Base Revenue Limit
$5,525
$5,777
$5,641
$5,824
0%
0%
0%
0%
Other State COLA
5.92%
4.53%
(6.5%)
3.00%
Mandate Reimbursement
$1.33M
-
-
-
Enrollment and ADA
Revenue
Federal COLA
Multi-Year Projections
Major Assumptions
Categories
2006-2007
2007-2008
2008-2009
2009-2010
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 Encroachment
$4.8M
$5.7M
$6.5M
$7.0M
Growth in Special Education Encroachment
$1.2M
$0.9M
$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
-
1.08M
-
-
Expenditures
Fund Balance
Mandate Reimbursement Set Aside
Multi-Year Projections
Categories
2006-2007
2007-2008
2008-2009
2009-2010
REVENUES
Revenue Limit Sources
53,841,719
56,083,438
54,776,531
55,361,711
5,234,677
5,593,131
5,588,427
5,588,427
15,525,256
13,989,847
13,208,769
13,561,247
9,967,270
9,616,615
9,165,089
9,165,089
84,568,921
85,283,031
82,738,816
83,676,474
66,452,044
67,713,704
69,799,573
70,641,135
Books/Supplies & Outlay
2,612,890
7,512,180
2,164,404
2,069,522
Services & Operating Expenses
9,384,991
11,656,856
10,630,390
11,376,150
Other Outgo & Transfers
2,251,760
1,517,216
1,517,216
1,517,216
Total Expenditures
80,701,685
88,399,956
84,111,583
85,604,022
Other Sources (Uses)
(579,249)
(435,906)
(325,906)
(325,906)
Net Inc/Dec in Fund Balance
3,287,987
(3,552,831)
(1,698,673)
(2,253,454)
BEGINNING BALANCE
4,378,028
7,666,016
4,113,185
2,414,511
ENDING BALANCE
7,666,016
4,113,185
2,414,511
161,057
Federal Revenues
Other State Revenues
Other Local Income
Total Revenues
EXPENDITURES
Salaries & Benefits
Components of Fund Balance
FY06/07
Actuals
Ending Fund Balance
FY07/08
Projection
FY08/09
Projection
FY09/10
Projection
7,666,016
4,113,185
2,414,511
161,057
Revolving Cash
50,000
50,000
50,000
50,000
For Economic Uncertainties
2,438,428
2,665,076
2,536,425
2,505,667
Legally Restricted Balance
5,591,153
-
-
-
Mandate Cost Reimbursement
-
1,080,000
-
-
P2 ADA
-
458,358
-
-
Spending Reductions
-
-
Available Unrestricted Reserve
(413,565)
(140,249)
For Other Designations
- (2,517,700)
(171,913)
123,090
Unrestricted Revenue
Other State
8%
Local
6%
Federal
0%
Revenue Limit
86%
Unrestricted Expenditures
Non-Personnnel
9%
Personnel
91%
Unrestricted Non-Personnel
Expenditures
Books and Other Reference
M aterials
M aterials and Supplies
Communications
0%
12%
Non-Capitalized Equipment
5%
1%
Professional Services and
Operating Expenditures
20%
Travel and Conferences
2%
Dues and M emberships
1%
Insurance
14%
Rentals, Leases, and Repairs
2%
Operation and Housekeeping
Services
43%
Outstanding Issues that Could
Impact the Budget
• State Budget
• P2 Average Daily Attendance (ADA)
• Special Education