Transcript Overview - Mike McMahon

FY07/08 1st Interim
December 11, 2007
Changes from Original Budget to
Projected Year Totals
Revenues
Original Budget
Carryover
New/Revised
Net Adjustments
FY07/08 Projected Year Totals
Expenditures
Original Budget
Carryover
New/Revised
Net Adjustments
FY07/08 Projected Year Totals
Unrestricted
Restricted
Combined
61,714,900
228,101
111,071
62,054,072
19,788,297
1,106,976
806,279
21,701,552
81,503,197
1,106,976
1,034,380
111,071
83,755,624
52,141,581
-
26,087,695
6,504,793
806,279
807,713
34,206,480
78,229,276
6,504,793
806,279
505,047
86,045,395
(302,666)
51,838,915
Changes from Original Budget to
Projected Year Totals
Unrestricted
Restricted
Combined
(6,735,304)
6,299,398
(435,906)
(614,377)
614,377
-
(7,349,681)
6,913,775
(435,906)
Net Increase (Decrease) in Fund Balance
2,865,476
(5,591,153)
(2,725,677)
Beginning Balance
2,074,863
5,591,153
7,666,016
Ending Balance
4,940,339
-
4,940,339
Other Sources/(Uses)
Original Budget
Net Adjustments
FY06/07 Projected Year Totals
Components of Fund Balance
Unrestricted
Ending Fund Balance
Restricted
Combined
4,940,339
-
4,940,339
Revolving Cash
50,000
-
50,000
Legally Restricted
-
-
-
For Economic Uncertainties
2,594,439
-
2,594,439
Other Designations
2,042,207
-
2,042,207
Available Unrestricted Reserve
253,693
-
253,693
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
9,485
9,512
9,355
9,288
District ADA – Funded
9,485
9,512
9,512
9,355
Revenue Limit COLA
5.92%
4.53%
4.30%
2.50%
Revenue Limit Deficits
0%
0%
0%
0%
Equalization Aid Per ADA
$86.56
-
-
-
Base Revenue Limit
$5,525
$5,777
$6,027
$6,179
0%
0%
0%
0%
Other State COLA
5.92%
4.53%
4.30%
2.50%
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
Growth in Special Education Encroachment
$1.22M
$0.61M
$0.50M
$0.50M
Inflationary Increase - CPI
3.4%
2.6%
2.4%
2.7%
Indirect Cost Rate
2.93%
2.84%
3.22%
3.22%
Spending Reductions and Reallocations
$0.8M
$1.4M
-
-
-
1.08M
1.08M
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
55,648,037
58,029,032
58,478,891
5,234,677
5,081,372
5,081,372
5,081,372
15,525,256
13,782,941
14,314,856
14,637,406
9,967,270
9,243,274
9,127,718
9,127,718
84,568,921
83,755,624
86,552,977
87,325,387
66,452,044
67,144,452
70,022,181
70,863,743
Books/Supplies & Outlay
2,612,890
7,266,735
2,888,493
2,779,419
Services & Operating Expenses
9,384,991
10,940,234
10,540,822
11,305,424
Other Outgo & Transfers
2,251,760
1,518,974
1,518,974
1,518,974
Total Expenditures
80,701,685
86,870,395
84,970,470
86,467,560
Other Sources (Uses)
(579,249)
(435,906)
(435,906)
(435,906)
Net Inc/Dec in Fund Balance
3,287,987
(3,550,677)
1,146,602
421,920
BEGINNING BALANCE
4,378,028
7,666,016
4,115,339
5,261,940
ENDING BALANCE
7,666,016
4,115,339
5,261,940
5,683,861
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
4,115,339
5,261,940
5,683,861
Revolving Cash
50,000
50,000
50,000
50,000
For Economic Uncertainties
2,438,428
2,619,189
2,562,191
2,607,104
Legally Restricted Balance
5,591,153
-
-
-
Mandate Cost Reimbursement
-
1,080,000
1,080,000
1,080,000
P2 ADA
-
137,207
-
-
Available Unrestricted Reserve
(413,565)
228,943
1,569,749
1,946,757
For Other Designations
Unrestricted Revenue
Other State
8%
Local
6%
Federal
0%
Revenue Limit
86%
Unrestricted Expenditures
Non-Personnnel
Personnel
Unrestricted Non-Personnel
Expenditures
Communications
5%
Professional Services &
Operating Expenditures
18%
Books & Other
Reference Materials
0%
Materials &
Supplies
12%
Non-Capitalized
Equipment
1%
Travel & Conferences
2%
Dues & Memberships
1%
Rentals, Leases, and
Repairs
2%
Insurance
15%
Operation &
Housekeeping Services
44%
Outstanding Issues that Could
Impact the Budget
• State Budget
• Average Daily Attendance (ADA)
• Other Post Employment Benefits (OPEB)
• Negotiations
Components of Fund Balance
FY06/07
Actuals
FY07/08
Projection
FY08/09
Projection
FY09/10
Projection
7,666,016
4,115,339
5,261,940
5,683,861
Revolving Cash
50,000
50,000
50,000
50,000
For Economic Uncertainties
2,438,428
2,619,189
2,562,191
2,607,104
Legally Restricted Balance
5,591,153
-
-
-
Mandate Cost Reimbursement
-
1,080,000
1,080,000
1,080,000
P2 ADA
-
137,207
-
-
Available Unrestricted
Reserve
(413,565)
228,943
1,569,749
1,946,757
If 3% COLA - Available Unrestricted Reserve
228,943
809,359
415,939
If 2% COLA - Available Unrestricted Reserve
228,943
224,443
(761,613)
Ending Fund Balance
For Other Designations
Food and Nutrition Services
Multi-Year Projections
Categories
2007-2008
2008-2009
2009-2010
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
100K
105K
115K
589,519
600,000
610,00
70K
75K
75K
MAJOR ASSUMPTIONS
Lunch Reimbursement Rates
Federal
Meals Served
Capital Improvements
Food and Nutrition Services
Multi-Year Projections
Categories
2007-2008
2008-2009
2009-2010
REVENUES
Federal Revenues
1,353,278
1,355,898
1,358,398
Other State Revenues
126,842
127,000
128,500
Other Local Income
686,903
710,485
742,985
2,167,023
2,193,383
2,229,883
1,136,750
1,187,904
1,199,783
832,657
800,000
820,000
Services & Operating Expenses
40,992
20,000
30,000
Capital Outlay
70,000
75,000
75,000
100,507
97,208
99,992
2,180,906
2,180,112
2,224,775
-
-
Net Inc/Dec in Fund Balance
(13,883)
13,371
5,108
BEGINNING BALANCE
184,474
170,591
183,962
ENDING BALANCE
170,591
183,962
189,080
Total Revenues
EXPENDITURES
Salaries & Benefits
Food and Supplies
Other Outgo & Transfers
Total Expenditures
Other Sources (Uses)