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Cambrian School District. 2012-13 Second Interim Report March 21, 2013. Presented by: Don Fox Interim CFO. Second Interim Report. 1. School boards are required to certify the projected year end and subsequent years’ financial condition twice a year Known as Interim Reports

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cambrian school district

Cambrian School District

2012-13 Second Interim Report

March 21, 2013

Presented by:

Don Fox Interim CFO

second interim report
Second Interim Report

1

  • School boards are required to certify the projected year end and subsequent years’ financial condition twice a year
    • Known as Interim Reports
  • The Second Interim is a snapshot of the District’s financial position as of January 31, 2013
  • Included in this report is a multiyear projection for fiscal years 2013-14 and 2014-15
revenue changes from first interim report to second interim report
Revenue Changes from First Interim Report to Second Interim Report

2

Revenue Changes from First Interim Report to Second Interim Report

Rev. Limit $ 106,915

Federal 71,053

Other State 41,336

Other Local <518>

Total $ 218,786

expenditure changes from first interim report to second interim report
Expenditure Changes from First Interim Report to Second Interim Report

3

Expenditure Changes First Interim Report to Second Interim Report

1xxx $ 17,039

2xxx <3,123>

3xxx 7,459

4xxx 137,797

5xxx <35,405>

6xxx 0

7xxx 0

Total $ 123,767

budget assumptions and multiyear projections
Budget Assumptions and Multiyear Projections

4

  • 2012-13: Very slightly higher ADA
  • 2013-14: 1.65% Revenue Limit COLA
  • 2014-15: 2.20% Revenue Limit COLA
  • LCFF ?
certification of financial condition
Certification of Financial Condition

6

  • The recommendation from staff to the Board is to approve the Second Interim Report as submitted
    • Positive Certification
      • This means that based upon current assumptions and projections the District will meet its financial obligations and have the statutorily required reserve for the current fiscal year and subsequent two fiscal years.
questions
Questions
  • Questions?