FY 07/08 3rd Interim May 27, 2008 Changes from 2nd Interim to Projected Year Totals Unrestricted Restricted Combined Revenues 2nd Interim New/Revised One Time FY07/08 Projected Year Totals 62,681,596 595,060 115,383 63,392,039 22,601,435 149,356 514,741 23,265,532 85,283,031 744,416 630,124 86,657,571 Expenditures 2nd Interim Special Education New/Revised One.
Download ReportTranscript FY 07/08 3rd Interim May 27, 2008 Changes from 2nd Interim to Projected Year Totals Unrestricted Restricted Combined Revenues 2nd Interim New/Revised One Time FY07/08 Projected Year Totals 62,681,596 595,060 115,383 63,392,039 22,601,435 149,356 514,741 23,265,532 85,283,031 744,416 630,124 86,657,571 Expenditures 2nd Interim Special Education New/Revised One.
FY 07/08 3rd Interim May 27, 2008 Changes from 2nd Interim to Projected Year Totals Unrestricted Restricted Combined Revenues 2nd Interim New/Revised One Time FY07/08 Projected Year Totals 62,681,596 595,060 115,383 63,392,039 22,601,435 149,356 514,741 23,265,532 85,283,031 744,416 630,124 86,657,571 Expenditures 2nd Interim Special Education New/Revised One Time Net Adjustments FY07/08 Projected Year Totals 52,695,968 (134,799) 52,561,169 35,703,988 301,286 151,218 514,741 (53,521) 36,617,712 88,399,956 301,286 151,218 514,741 (188,320) 89,178,881 Changes from 2nd Interim to Projected Year Totals Unrestricted Restricted Combined Other Sources/(Uses) 2nd Interim (7,947,306) 7,511,400 (435,906) Net Adjustments (301,286) 301,712 426 (8,248,592) 7,813,112 (435,480) Net Increase (Decrease) in Fund Balance 2,582,278 (5,539,068) (2,956,790) Beginning Balance 2,074,863 5,539,068 7,613,931 Ending Balance 4,657,141 - 4,657,141 FY07/08 Projected Year Totals Components of Fund Balance Unrestricted Ending Fund Balance Restricted Combined 4,657,141 - 4,657,141 Revolving Cash 50,000 - 50,000 Legally Restricted - - - For Economic Uncertainties 2,688,722 - 2,688,722 Other Designation: Mandate Set Aside 1,080,000 - 1,080,000 Other Designation: P2 ADA - - - Available Unrestricted Reserve 838,419 - 838,419 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 P2 ADA 9,516 9,607 9,397 9,342 District ADA – Funded P2 ADA 9,516 9,607 9,607 9,397 Revenue Limit COLA 5.92% 4.53% 4.94% 3.00% Revenue Limit Deficits 0% 0% 6.99% 6.99% Equalization Aid Per ADA $86.88 - - - 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 Contribution $4.8M $6.0M $6.8M $7.3M Growth in Special Education Contribution $1.2M $1.2M $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 56,245,598 54,939,495 55,438,547 5,234,677 5,886,285 5,875,441 5,875,441 15,525,256 14,362,718 13,567,237 13,925,608 9,967,270 10,162,970 9,157,516 9,157,516 84,568,921 86,657,571 83,539,689 84,397,112 66,452,044 67,513,546 69,727,124 70,568,686 Books/Supplies & Outlay 2,612,890 7,897,805 2,260,870 2,161,433 Services & Operating Expenses 9,384,991 12,209,220 11,219,303 11,980,180 Other Outgo & Transfers 2,251,760 1,558,310 1,558,310 1,558,310 Total Expenditures 80,701,685 89,178,881 84,765,606 86,268,609 Other Sources (Uses) (579,249) (435,480) (325,480) (325,480) Net Inc/Dec in Fund Balance 3,287,987 (2,956,790) (1,551,398) (2,196,977) BEGINNING BALANCE 4,378,028 7,613,931 4,657,141 3,105,743 ENDING BALANCE * 7,666,016 4,657,141 3,105,743 908,767 Federal Revenues Other State Revenues Other Local Income Total Revenues EXPENDITURES Salaries & Benefits The FY07/08 Beginning Fund Balance has been adjusted by ($52,085) to transfer restricted funds to appropriate funds. Components of Fund Balance FY06/07 Actuals Ending Fund Balance * FY07/08 Projection FY08/09 Projection FY09/10 Projection 7,666,016 4,657,141 3,105,743 908,767 Revolving Cash 50,000 50,000 50,000 50,000 For Economic Uncertainties 2,438,428 2,688,722 2,556,323 2,525,882 Legally Restricted Balance 5,591,153 - - - Mandate Cost Reimbursement - 1,080,000 - - P2 ADA - - - - Spending Reductions - - - (2,517,700) Available Unrestricted Reserve (413,565) 838,419 For Other Designations 499,420 The FY07/08 Beginning Fund Balance has been adjusted by ($52,085) to transfer restricted funds to appropriate funds. 850,584 Outstanding Issues that Could Impact the Budget and MYP • FY08/09 Budget Act • Special Education – Transportation • Other Post Employment Benefits (OPEB) • Measure H Parcel Tax 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 112K 120K 125K 414,024 427,063 447,210 Capital Improvements 58K 45K 60K Stores 94K 60K 60K MAJOR ASSUMPTIONS Lunch Reimbursement Rates Federal Meals for Needy Served Food and Nutrition Services Multi-Year Projections Categories 2007-2008 2008-2009 2009-2010 REVENUES Federal Revenues 1,097,263 1,044,960 1,087,127 Other State Revenues 100,842 103,740 113,163 Other Local Income 631,895 784,997 784,712 1,830,000 1,933,697 1,985,002 1,113,395 1,142,199 1,165,043 696,455 755,923 775,000 Services & Operating Expenses 30,992 20,000 20,000 Capital Outlay 57,544 60,000 60,000 (60,000) (60,000) (60,000) 59,951 61,208 61,992 1,898,337 1,979,330 2,022,035 - - - Net Inc/Dec in Fund Balance (68,337) (45,633) (37,033) BEGINNING BALANCE 184,474 116,137 70,504 ENDING BALANCE 116,137 70,504 33,471 Total Revenues EXPENDITURES Salaries & Benefits Food and Supplies Stores Other Outgo & Transfers Total Expenditures Other Sources (Uses)