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Managing Financial Challenges: LCMSD First Interim Recap

This report summarizes LCMSD's financial status, challenges, and strategies. Explore revenue, expenditures, deficit, and plans for sustaining a third school amid financial constraints.

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Managing Financial Challenges: LCMSD First Interim Recap

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  1. LCMSD First Interim Recap January 28, 2014

  2. Revenue - $14.9 Million

  3. Expenditures - $15.9 Million

  4. Challenges • Transition to full implementation of LCFF • Loss of $500,000 lease revenue from San Clemente lease in 2013-14 • First Interim report does not include $271,700 reduction related to EPA revenue • Ongoing “structural” deficit of projected unrestricted expenses over revenues of $570,000 • Opening and sustaining a third school Structural deficit calculated based upon 2013-14 excess of projected expenditures over revenues plus EPA revenue less the one-time cove opening expenses and restricted deficit

  5. Fund Balance * Projected

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