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Board Study Session on Student Services Funding December 7, 2010

Board Study Session on Student Services Funding December 7, 2010. Fiscal Year 2009-10. State addressing a $24 billion budget deficit $157 million in cuts to general apportionment $106 million local property tax shortfall $276 million in cuts to categorical programs

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Board Study Session on Student Services Funding December 7, 2010

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  1. Board Study Session on Student Services Funding December 7, 2010

  2. Fiscal Year 2009-10 • State addressing a $24 billion budget deficit • $157 million in cuts to general apportionment • $106 million local property tax shortfall • $276 million in cuts to categorical programs • $703 million in cash deferrals

  3. Cuts to Selected Categoricals

  4. DISTRICT BUDGET – FUND BALANCE • During fiscal year 2009-10 the District deficit spent approximately $6.4 million. • Of this amount, $3.5 million is attributed to deficit spending on employee benefits.

  5. Benefit Budget • Past practice was to use average benefit rates of: • 34.34% for academic employees • 41.72% for classified employees • These rates were intended to cover all required employer statutory benefits as well as negotiated health and welfare benefits. • In hindsight, practice did not adequately provide for sufficient budget to pay for 100% of employer benefits.

  6. Benefit Budgets (continued) • Beginning 7/01/10 benefits are budgeted by benefit cost and per position. • For every employer paid benefit, a unique account code has been created and the annual cost budgeted for by program. • Accounting Advisory – GASB 45 – Accounting for OPEB • “OPEB costs for active eligible employees are a direct cost to programs and grants where employees are currently charged.”

  7. Benefit Budgets (continued)

  8. Benefit Budgets (continued)

  9. Study Session on Student Services Budgets • Questions?

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