Mt. Diablo Unified School District
This presentation is the property of its rightful owner.
Sponsored Links
1 / 25

Second Interim Budget Report March 9, 2010 Steven Lawrence, Ph.D., Superintendent PowerPoint PPT Presentation


  • 113 Views
  • Uploaded on
  • Presentation posted in: General

Mt. Diablo Unified School District. Second Interim Budget Report March 9, 2010 Steven Lawrence, Ph.D., Superintendent Bryan Richards, Director, Fiscal Services. Why an Interim Report?. Ed. Code §42130 requires the Board to certify two interim budget and financial reports

Download Presentation

Second Interim Budget Report March 9, 2010 Steven Lawrence, Ph.D., Superintendent

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Second interim budget report march 9 2010 steven lawrence ph d superintendent

Mt. Diablo Unified School District

Second Interim Budget Report

March 9, 2010

Steven Lawrence, Ph.D., Superintendent

Bryan Richards, Director, Fiscal Services


Why an interim report

Why an Interim Report?

  • Ed. Code §42130 requires the Board to certify two interim budget and financial reports

  • Certification is either Positive, Qualified or Negative

    • Positive – The district will meet its obligations for 3 years

    • Qualified – The district may not meet its obligations for 3 years

    • Negative – The district will not meet its obligations in current or upcoming year

  • 1st Interim with transactions to October 31 due December 15

  • 2nd Interim with transactions to January 31 due March 15

  • If 2nd Interim qualified or negative, 3rd Interim with transactions through April 30 due June 1


Unrestricted general fund revenue

Unrestricted General Fund Revenue

  • Revenue Limit Sources $ 158,651,759

  • Federal Revenue 225,054

  • Other State Revenue 32,074,592

  • Other Local Revenue 3,168,461

  • Total Revenue 194,119,866

  • Less: Net Contrib. to RGF (34,730,797)

  • Net Available Revenue $ 159,389,069


Second interim budget report march 9 2010 steven lawrence ph d superintendent

Revenue Limit is down from 89.8% of revenue to 81.73% because of the deficit.


Unrestricted general fund expenditures

Unrestricted General Fund Expenditures

  • Certificated Salaries $ 83,414,261

  • Classified Salaries 19,886,215

  • Employee Benefits 29,936,365

  • Books & Supplies 6,241,695

  • Services & Operating 15,089,883

  • Capital Outlay 108,113

  • Other Outgo 929,381

  • Interfund Transfers Out 5,452,658

  • Total Expenditures 161,058,571


Second interim budget report march 9 2010 steven lawrence ph d superintendent

Salaries and Benefits make up 82.73% of expenditures & transfers out


Unrestricted general fund summary

Unrestricted General Fund Summary

  • Net Available Revenue $159,389,069

  • Net Expenditures 161,038,571

  • Net (decrease) fund bal. ( 1,669,502)

  • Beginning Balance, July 1 24,529,701

  • Projected Ending Balance $ 22,860,199


Components of ending balance

Components of Ending Balance

  • Revolving Cash$ 300,000

  • Stores Inventory 536,118

  • Economic Uncertainties (2%) 6,036,482

  • IRS Assessment Resolution 533,550

  • Tier 3 and Site Carryovers 7,165,062

  • Undesignated 8,288,987

  • Ending Balance$ 22,860,199


Restricted general fund revenue

Restricted General Fund Revenue

  • Revenue Limit Sources $ 6,614,982

  • Federal Revenue 31,892,737

  • Other State Revenue 37,774,770

  • Other Local Revenue 8,841,354

  • Interfund Transfers In 0

  • Net Contribution from UGF 35,525,361

  • Total Revenue $120,649,204


Restricted general fund expenditures

Restricted General Fund Expenditures

  • Certificated Salaries $ 44,454,133

  • Classified Salaries21,644,156

  • Employee Benefits24,982,365

  • Books & Supplies25,374,487

  • Services & Other Operating 22,256,480

  • Capital Outlay 343,427

  • Other Outgo 2,505,016

  • Transfers Out 0

  • Total Expenditures $ 141,560,064


Restricted general fund summary

Restricted General Fund Summary

  • Total Revenue $ 120,649,204

  • Total Expenditures 141,560,064

  • Net (decrease) in fund bal.(20,910,860)

  • Beginning Balance, July 1 22,687,425

  • Projected Ending Balance $ 1,776,565


Other funds of the district

Other Funds of the District

  • Funds for special purposes excluded from the General Fund

  • Special Revenue Funds

    • Charter School – Form 09I

    • Adult Education – Form 11I

    • Cafeteria – Form 13I

    • Deferred Maintenance – Form 14I

  • Capital Projects Funds

    • Building (Proceeds of local bonds for construction) – Form 21I

    • Capital Facilities (a.k.a. Developer Fees) – Form 25I


Other funds of the district cont d

Other Funds of the District (cont’d)

  • Capital Projects Funds (continued)

    • County School Facilities (State Allocations for construction) – Form 35I

    • Capital Project for Blended Component Units (Mello-Roos) – Form 49I

  • Debt Service Funds

    • Bond Interest and Redemption – Form 51I

    • Debt Service for Blended Component Units (Mello-Roos) – Form 52I

  • Foundation Private-Purpose Trust Fund (Scholarship Fund) – Form 73I

  • All “Other Funds” projecting positive fund balances


Supplemental information

Supplemental Information

  • Form AI: Average Daily Attendance decrease of (719.95) in 09/10 will decrease funding for 10/11.

  • Form CASH: Cash Flow – to end year positive we sold a $12M TRAN which closes on March 18 and are pulling LAIF into County Treasury

  • Form RLI: This is unchanged since 1st interim except for the adjustment to PERS reduction due to personnel cost changes

  • Form 01CSI: Criteria & Standards

  • Form CI: Certification to Sign summarizes Criteria & Standards

  • Form MYPI: Multi-year Projection – What we can expect based on what we know now from Sacramento, so it’s time for another episode of…


Second interim budget report march 9 2010 steven lawrence ph d superintendent

STATE

CAPITOL


One time revenue limit deficit now ongoing

One time revenue limit deficit now ongoing!

  • This year we have a one-time additional deficit of $252.83 per 2008-09 FUNDED ADA (2007-08 actual P-2 ADA) or about $254.06 per current funded ADA

  • Starting next year it will become ongoing and be $201 per current year funded ADA

    • This deficit is proposed to be applied to “administrative” costs. While “administrative” is undefined in the proposal, current chatter from Sacramento indicates it will be calculated on function codes 2100-2199 (instructional supervision), 7000-7999 (central administration and technology) and 8000-8999 (maintenance, operations & security). Reductions since 2008/09 will count towards the cuts as it will be used as the base year. However, reductions from 2007/08 into 2008/09 may not. This is not yet finalized and there is a move to strip the language from the proposal.


General outlook for the future

General Outlook for the Future

  • Positive Certification (we will meet our obligations for this year and the next two)

  • This certification is conditional on the board’s approval of items on tonight’s cut list as they have been included in the multi-year projection

  • Concerns

    • State fiscal health is still precarious although January revenues were up in the first piece of good news out of the State in a while. However, it hasn’t made up for the shortfalls to date so the May revise may still have further cuts.

    • Health care cost containment is critical. Increases have been coming in well above the CPI. Our 2011 rate announcement comes from CalPERS in June.

    • Declining enrollment – still a major concern

    • DEFICIT – The cuts have significantly lessened our deficit spending. However, cash is king and we must continue to monitor it. We will be pulling our LAIF investment into the County treasury to be sure cash is available.


Cash is king for the state too

Cash is king for the State too!

  • Additional new deferrals will affect our cash flow substantially!

    • July revenue limit deferred until September

    • October revenue limit deferred until January

    • March revenue limit deferred until April 29

  • Our TRAN payments are in July and August with a final due date of October 1

  • We plan to issue next year’s TRAN in October to be ahead of the second deferral


The 09 10 revenue limit cut 1 423 ada

The 09/10 revenue limit cut $1,423/ADA


Form mypi multi year projection

Form MYPI: Multi Year Projection

  • Undesignated + Tier 3 @ 6/10 $ 8,288,987

  • Operating Deficit 2010/11 ( 2,544,379)

  • Adjustment in 2% reserve 709,906

  • Unappropriated Balance 6/11 6,454,514

  • Operating Deficit 2011/12 ( 1,391,915)

  • Adjustment in 2% reserve 10,373

  • Unappropriated Balance 6/12 $ 5,072,972


Cuts substantially curtail the deficit

Cuts substantially curtail the deficit

  • Unappropriated Balance 6/12 $ 5,072,972Deficit & Rsv Adj - 2012/13 ($ 1,163,673)

  • Unappropriated Balance 6/13 $ 3,909,299

  • Deficit & Rsv Adj - 2013/14 ($ 3,580,926)

  • Unappropriated Balance 6/14 $ 328,373

  • 2013/14 sees the end of flexibility unless legislation is passed to continue it


What next we go back to sacramento

What next?We go back to Sacramento

  • State budget talks underway in legislature

  • March Government Price Index establishes 2010/11 COLA

  • April tax receipts tell the State’s fiscal tale

  • Governor’s May Revise


Thank you tune in next time for the next episode of

Thank you. Tune in next time for the next episode of…

STATE

CAPITOL


  • Login