revenues reserves and strategic budgeting n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Revenues, Reserves, and Strategic Budgeting PowerPoint Presentation
Download Presentation
Revenues, Reserves, and Strategic Budgeting

Loading in 2 Seconds...

play fullscreen
1 / 9

Revenues, Reserves, and Strategic Budgeting - PowerPoint PPT Presentation


  • 62 Views
  • Uploaded on

Revenues, Reserves, and Strategic Budgeting. November 8, 2011 William C. Young Assistant Superintendent – Business Services Posted www.oceanviewsd.org. Revenue/Expenditure Update. 11-12 State Revenue Status. State Revenue Status Year-to-date = $654 million shortfall October = $ ???

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Revenues, Reserves, and Strategic Budgeting' - kacia


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
revenues reserves and strategic budgeting

Revenues, Reserves, and Strategic Budgeting

November 8, 2011

William C. Young

Assistant Superintendent – Business Services

Posted www.oceanviewsd.org

11 12 state revenue status
11-12 State Revenue Status

State Revenue Status

  • Year-to-date = $654 million shortfall
  • October = $ ???
  • November = $ ???
  • December – June 2012 = $ ???

State Trigger Status

  • By December 15, 2011 – determination date for triggers
  • Trigger 1 ($1 - $2 billion short): Cuts OVSD Child Development Funding
  • Trigger 2 (more than $2 billion short): OVSD Transportation Funding cut by at least 50%, OVSD State Revenue Limit Funding cut by up to $618,000
11 12 federal revenue status
11-12 Federal Revenue Status

Federal Revenue Status

  • One-time economic crisis funding is gone - $ 2.3 million
  • Title II and Migrant funding cut
  • Anticipate other federal program cuts

Federal Super Committee Status

  • Composed of 6 Senate and 6 House Bipartisan Members
  • Cut $1.5 Trillion by November 23, 2011
  • Automatic cuts – 50% defense budget, 50% domestic program budgets (including education)
11 12 reserve for economic uncertainty status
11-12 Reserve for Economic Uncertainty Status

Reserve Status

  • Minimum State Requirement = 3%
  • Safety Net
    • covers about 8 days of payroll
      • 1 month payroll costs = $1.63 million
  • most financial problems are multiyear problems and not one time
11 12 ending fund balance
11-12 Ending Fund Balance

** The gap between the Ending Fund Balance and Cash in County Treasury is caused by delayed state payments

district administration governing board strategic budgeting
District Administration / Governing Board Strategic Budgeting

Reduced

  • Administrative Costs
  • Classified Costs
  • Certificated Costs
  • Benefit Costs
  • Operational Costs

Planned

  • To mitigate further cuts
  • To meet monthly cash needs (to pay payroll)
slide9

District Administration / Governing Board Accomplishments through Strategic Budgeting

  • Low K-3 Class Size - 24:1
  • Maintained Block Scheduling at OVJH
  • Avoided Layoffs
  • Avoided Furlough Days
  • Maintained Salaries including step & column increases
  • Avoided temporary cash loans
  • Use of One-Time Federal Funding – $ 2.3 million
  • Offer a one-time off schedule payments