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
Report
Transcript 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)