Download
1 / 13
130 likes | 275 Views
Ramona Unified School District. First Interim Report December 18, 2008. Interim Reports. What is an Interim Report? A report of the district’s financial status, including revised projections and activity through a certain point in the fiscal year Why have an Interim Report?
E N D
Ramona Unified School District First Interim Report December 18, 2008
Interim Reports • What is an Interim Report? • A report of the district’s financial status, including revised projections and activity through a certain point in the fiscal year • Why have an Interim Report? • For review of the financial condition of district • To provide status report to interested parties • To determine whether revisions are needed • To determine if district will meet financial obligations
First Interim Report • Must bring budget to the Board four times a year • July 1st – Adopted Budget of the year • December 15th -- First Interim Report • March 15th -- Second Interim Report • September 15th -- Unaudited Actuals • Keep Board apprised of budget assumptions and new developments
Budget • Budget shows a plan for spending • Budget constantly changes as new information is received and incorporated into adopted Budget • Most change occurs from the adoption of the Budget on July 1 until the First Interim • State of California budget is not even signed
The Numbers • Total Revenues $54,818,681 • Total Expenses $58,810,120 • Difference ($ 3,991,439) • Beginning Balance $ 5,762,318 • Ending Balance* $ 1,770,879 • Beginning Unrestricted $ 3,011,630 • Ending Unrestricted* $ 1,770,879 • *Projected Ending Balances
The Numbers • Components of the ending fund balance $1,770,879 • 2009-2010 Budget $ 1,200,000 • Accrued Vacation $ 490,679 • Other $ 26,416 • Remaining Balance $ 53,784 • Percentage Reserve • $1,764,304 to meet required 3% reserve • 3.01% general fund projected ending balance
The Numbers • RUSD is projected to deficit spend by $3.9 Million • However, carryover from 2007-2008 must be factored into the current budget, which inflates your expenditures without adding revenues to offset them, thus creating deficit spending • Carryover creates a big difference in the expenditure budgets from the July adopted budget to the First Interim Report
Carryover Factored Into Budget • Carryover in Ending Balance • 2008-09 Budget $1,200,000 • Vacation Balance $ 490,679 • Other $ 66,300 • Carryover in Budget • Site Block, API, GPA $ 4,457 • Site/Dept. Carryover $ 606,110 • CASHSEE $ 76,188 • Montessori Training $ 6,400 • One-Time Bonus $ 397,688 • Limited English (LEP) $ 73,616
Carryover Factored Into Budget • Lottery $428,053 • State Instructional Material $612,898 • Arts, Music P.E. Grants $212,355 • School/Library Impr. $157,001 • RRMA $509,378 • Site Block Grants $104,596 • School Safety Grants $ 89,730 • Economic Impact Aid (EIA) $ 98,080 • Medical $148,514 • Other Restricted Programs $240,280
Carryover Factored Into Budget • Other current year adjustments include: • 6.5% increase to many State categorical programs • Increase in federal dollars, more specifically 21st Century Program for RHS and MHS • Donation accounts for all the schools • The majority of these dollars are expended for books and supplies object code
Major Changes • State of California 2008-2009 Budget Adoption • 0.68% COLA to Revenue Limit • 6.5% increase to State categorical programs • School is back in session, so enrollment numbers are tied into staffing needs • Retirees, replaced positions, and new hires into salary schedule • Salary settlements have been incorporated • Health benefits have been finalized • Dollars in ending balance have been distributed to sites and departments
Looking Ahead • Normally, the Second Interim Report goes to the Board in March • Will look at assumptions and make adjustments • The State of California Financial Crisis • January 13th 2009-2010 budget workshop by School Services of California, Inc.
