Post on 31-Dec-2015
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PLUMAS LAKE ELEMENTARY SCHOOL DISTRICT
2012-13 First Interim
December 13, 2012
Each student will reach their fullest potential as we strive for District excellence through sound leadership, effective communication, accountability, and investment in our staff.
FINANCIAL REPORTING CYCLE• Annual financial reporting:• Budget Adoption – Due July 1, 2012 • First Interim – Due December 15, 2012• Second Interim – Due March 15, 2013• Unaudited Actuals – Due September 15, 2013
• Budget is developed based on assumptions in June;• Assumptions are usually based on the
information in the May Revise• Assumptions change during the year based on
updates from the State and we are required to file two interim reports during the year and certify one of the following:• Positive: District can meet its current year and
subsequent two year obligations;• Qualified: District may not be able to meet its
current year and subsequent two year obligations; or
• Negative: District cannot meet its current year and subsequent two year obligations.
Budget developme
nt is a continuous
process
GENERAL FUND –
FUND 0
1
BUDGET ASSUMPTIONS2012-13 Budget Development 2012-13 First Interim
Statutory COLA 3.24% 3.24%
Trigger Cuts – if tax initiatives fail $441 per ADA $441 per ADA
Deficit Factor 22.272%$0.77728 per $1.00
22.272%$0.77728 per $1.00
Revenue Limit (RL) w/ COLARL w/ deficitLoss per ADA
$6,912.36$5,373.62$1,539.74
$6,912.36$5,372.84$1,539.74
State Categorical ProgramsCOLA
0 0
Ed Jobs Funds ($222,813 final entitlement) $11K $12K
Federal Funds COLA 0 0
Average Daily Attendance (ADA) 1030.59 K-8 plus 6.42 County = 1037.01
1040 K-8 plus 6.42 County – 1046.42
Lottery BaseLottery Prop 20
$118.25$23.75
$124.25$30.00
SITE STAFFCobblestone Rio Del Oro Riverside Meadows
Office AdministratorSite Secretary
AdministratorSite SecretaryOffice Clerk (3 hrs)
AdministratorSite SecretaryOffice Tech (5 hrs)
K-8 Classrooms 14 FTE Teachers(includes TK classroom)1 Para (TK)
23 FTE Teachers 12 FTE Teachers
Special Education 1 FTE Teacher2 Paras Learning Center (LC)
2 FTE Teachers3 Paras SDC2 Paras LC1 Para One-on-One
1 FTE4 Paras LC1 Para One-on-One
Other 0.428 0.4 FTE PE Teacher0.375 FTE Library Clerk
0.643 0.6 FTE PE Teacher0.375 FTE Library Clerk
2 FTE PE Teachers0.4 FTE Band Teachers0.375 FTE Library Clerk
Yard Duty/Campus Supervision
6 hours Yard Duty 6 hours Yard Duty2 hours Crossing Guard
1.75 hours Yard Duty5.5 hours Campus Monitor
Custodial 1.875 FTE 2 FTE 2 FTE
Shared positions Health Clerk – 6 hoursAcademic Coach – 1 FTE
Counselor – 1 FTEPsychologist – 1 FTE
GENER
AL FUND
REVENUE
SO
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REVENUE LIMIT STATE AIDRevenue Limit calculations -Using 1040 for K-8 however P2 ADA may come
in higher:
Potential for more revenue – as of 12/11/12 enrollment is 1098 If enrollment continues to grow until P2 we could see higher P2 ADA Data. If P2 ADA comes in the same as P1 ADA there is potential for an increase in state
aid - $85,339
Month 1 Month 2 Month 3 Month 4
Monthly ADA
1058.13 97.95%
1054.35 97.76%
1047.95 97.25%
1057.36
96.95%
Cumulative ADA
1058.13 97.91%
1056.03 97.83%
1053.14 97.62%
1054.55 (P1)
97.48%
Average Enrollment
1081 1079 1078 1091
REVENUE LIMIT STATE AID2012-13Budget
2012-13First Interim
Change Notes
Principal Apportionment
$5,479,093 $5,530,424
$51,3310.9%
Adjusted ADA
Property Taxes $624,718 $624,718 0
Revenue Limit Transfers
$11,603 $11,282 ($321)(2.8%)
Based on classified salaries subject to PERS
FEDERAL REVENUE• Education Jobs Funding - $12,057
• Was spent by September 30, 2012 for teacher salaries• No more funding available
• No Child Left Behind (NCLB) Funding Title I Improving the Academic Achievement of the Disadvantaged Part 1
Budget Development: Preliminary numbers were $45K, however due to the requirements of the program we did not budget, however CDE has posted preliminary entitlements now and the amount was significantly higher.
First Interim – Preliminary entitlement is $82,090 Title II Preparing, Training, and Recruiting High Quality Teachers and Principals
Budget Development - $3,449 First Interim – preliminary entitlement is $6,398
Title III – English Language Acquisition, Language Enhancement and Academic Achievement for Limited English Proficient (LEP) Students - $11,426
• Special Education Local Assistance Grants - $72,483 SPED IDEA Mental Health funds – $2,326
• Federal Impact Aid (unrestricted) – $30,000
• Medi-Cal Administrative Activities (MAA) - $35,000
• Medi-Cal Option Billing (grant thru YCOE) - $30,000
OTHER STATE REVENUEProp 20 Lottery
Funds – $5,716 FY
11-12$32,220 FY
12-13$24,486
$23.75 $30 per Annual ADA
Economic Impact Aid - $25,945 $25,949
Lottery (unrestricted) - $5,578 FY 11-
12 $133,176 FY 12-13
$121,658
$118 $124.25 per Annual ADA
Tier III Categoricals and other State
Revenue - $264,962 $265,058
Transportation - $47,955 $47,959
Home-to-School - $28,526 $23,378Home-to-School SPED - $19,429 $24,581
Class-Size Reduction K-3 -
$457,317 $450,000
TIER III CATEGORICAL FLEXIBILITYEducation Code Section 42605 allows complete flexibility in the use of funds appropriated in the State budget for fiscal years 2008-09 through 2014-15 for numerous programs and can be used for any educational purpose. Grants included in this flexibility are:
Closed Programs:• Administrator Training - $4,849 • Art and Music Block Grant - $15,116 $15,115 • California Peer Assistance & Review Program - $5,148 • CAHSEE Intensive Instruction - $800 • Community Based English Tutoring- $4,478 • Math and Reading Professional Development - $9,018• Professional Development Block Grant - $11,597• School Safety and Violence Prevention - $7,990• Supplemental Hourly Programs - $24,143• Targeted Instructional Improvement - $4,433 $3,914
TIER III CATEGORICAL FLEXIBILITY (CONTINUED)
Closed Programs (continued)• Deferred Maintenance - $33,464 – funding is transferred to Routine Restricted
Maintenance• Gifted and Talented Education – $66,473• School Library Improvement Block Grant - $10,437
• Programs closed but operating with original intent of program
• Instructional Materials Funding Realignment Program - $56,862 $56,959 - funding is used to purchase approved curriculum
• Routine Restricted Maintenance – flexibility to transfer one percent of expenditures (previously was three percent of General Fund expenditures)
• Current contribution budgeted is $269,184
• Three percent of expenditures is $251,124
OTHER LOCAL REVENUE AND OTHER FINANCING SOURCES
Other Local Revenue Interest Earnings - $22,200 $28,200 Leases and Rentals – $41,024 $35,219 Other revenue $9,977 $9,800 Bus Fees - $13,000 Sp Ed Transfer from YCOE – $384,326 $392,686
YCOE adjusted based on SELPA-wide ADA YCOE used 2011-12 P2 ADA District will make adjustments at Second Interim
Other Financing Sources Interfund Transfers In - $26,300 (From Fund 52 for CFD Admin costs)
REVENUE SOURCESRevenue Source
2012-13Budget
2012-13First Interim
Variance Notes
Revenue Limit Sources
$6,115,414
$6,166,424
$51,010 0.8% Adjusted RL ADA
Federal Revenue
$196,670 $281,780 $85,110 43.3%
Adjusted Title I and Title II funding
Other State Revenue
$935,110 $972,870 $37,760 4% Adjusted Class Size Reduction and Lottery
Other Local Revenue
$478,905 $470,527 ($8,378) (1.7%)
Adjusted Interest, SELPA funding, and rentals/leases
Interfund Transfers In
$26,300 $26,300
Total Revenue
$7,752,399
$7,917,901
$165,502
2.1%
GENERAL FUND
EXPENDIT
URES
NEW ONGOING COSTS FOR 2012-13
Counselor – 1 Full-time Equivalent (FTE)
Utility Worker (Grounds/Maintenance) – 1 FTE
Classroom Teachers – 2 FTE
Transitional Kindergarten Paraprofessional - 0.8125 FTE
SALARIES AND BENEFITSCategory 2012-13
Budget Adoption
2012-13 First Interim
Change Note
Certificated $3,820,902 $3,768,088 ($52,814)(1.4%)
Adjusted salaries to actual contracts (column movement,/new hires) and removed academic coach salary
Classified $1,299,005 $1,317,261 $18,2561.4%
Added para salary and adjusted clerical and support staff salaries
Benefits $1,648,662 $1,604,153 ($44,509)(2.7%)
District contribution:
STRS $313,428 $311,030 ($2,398) 8.25%
PERS $136,997 $139,662 $2,665 11.417%
OASDI/Medicare $150,711 $143,599 ($7,112) 6.2%/1.45%Based on salaries after pre-tax deductions
Health $869,689 $834,482 ($35,207)
$10,000 per FTEBased on actual monthly contribution
Unemployment $66,544 $62,459 ($4,085) 1.1% Based on salaries after pre-tax deductions
Worker’s Comp $93,860 $96,693 $2,833 1.9% - rate finalized after budget development
PERS Reduction/Other
$17,433 $16,228 ($1,205) PERS 1.603%Adjusted other benefits
BOOKS AND SUPPLIESCategory 2012-13
Budget Adoption
2012-13 First Interim
Change Note
Approved Textbooks and Core Curricula Materials
$84,497 $82,616 ($1,881) Adjusted for workbooks
Books and other reference materials
$10,028 $10,540 $512
Materials and supplies
$205,292 $238,153 $32,861 Added Title I, materials for trainings and site adjustments
Non-capitalized Equipment
$54,200 $70,357 $16,157 Added Title I -SmartBoards for Riverside
Total $354,017 $401,666 $47,649
SERVICES AND OTHER OPERATING EXPENDITURESCategory 2012-13
Budget2012-13 First Interim
Change Notes
Subagreements $70,450 $75,450 $5,000 Adjusted for contracts over $25,000
Travel and Conferences
$41,435 $46,603 $5,168 Adjusted for trainings
Dues and Memberships
$5,150 $4,435 ($715)
Insurance $86,953 $85,510 ($1,443) Adjusted to actuals
Ops/Housekeeping $268,320 $268,320
Rentals/Leases $81,050 $83,635 $2,585 Adjusted for copiers and FMOT repairs
Directs Costs Interfund
($34,220) ($35,634) ($1,414)
Consulting/Professional
$382,036 $441,330 $59,294 Added Title I expenditures and trainings
Communications $50,921 $50,921
Total $952,095 $1,020,570 $68,475
OTHER OUTGO
Category 2012-13 Budget
2012-13 First Interim
Change
Payments to County Offices
$266,500 $266,500 0
Debt Service $6,600 $6,600 0
Transfers of Indirect -Fund 13
($9,492) ($9,618) ($126) – based on Fund 13 expenditures
EXPENDITURES2012-13 Budget Adoption
2012-13 First Interim
Change Notes
Certificated Staff $3,820,902 $3,768,088 ($52,814)
Adjusted salaries to contracts and removed academic coach
Classified Salaries $1,299,005 $1,317,261 $18,256 Added TK para salary and adjusted to contracts
Employee Benefits $1,648,662 $1,604,153 ($44,509)
Adjusted to salaries and for pre-tax deductions
Books and Supplies $354,017 $401,666 $47,649 Added Title I expenditures and added for professional development
Services/Op Expenses
$952,095 $1,020,570 $68,475 Added Title I expenditures and added for professional development
Other Outgo $273,100 $273,100
Indirect ($9,492) ($9,618) ($126) Based on Fund 13 expenditures
Interfund Transfers Out
$18,927 $21,880 $2,953 Contribution to Fund 13
Total Expenditures $8,357,216 $8,397,100 $39,884
CONTRIBUTIONS TO RESTRICTED PROGRAMSCategory Transportat
ionRoutine Restricted Maintenance
Special Education
Revenue
State Aid $60,955 No State Funding $456,809
RL transfer (SPED only) $30,534
Total Revenue $60,955 $487,343
Expenditures
Certificated Staff $325,047
Classified Staff $42,694 $131,971 $238,010
Benefits $17,308 $55,624 $173,252
Materials & Supplies $30,000 $43,604 $2,300
Services & Other Operating Expenditures
$10,963 $15,578 $77,443
SPED Transportation Costs $30,000 $266,500
Excess Program Costs/Indirect $9,920 $22,407 $95,015
Total Expenditures $140,885 $269,184 $1,177,567
Contributions from unrestricted resources
$79,330 $269,184 $690,224
GENERAL FUND REVENUE AND EXPENDITURES
Category 2012-13 Budget Development
2012-13 First Interim
Beginning Balance $2,969,364 $3,077,693
Revenue $7,752,399 $7,917,900
Expenditures $8,357,216 $8,397,100
Net Increase/Decrease ($604,817) ($479,200)
Ending Fund Balance $2,364,547 $2,598,493
Economic Uncertainty $416,914 $418,540
Revolving Cash $5,100 $5,100
Restricted Funds $12,927 $59,426
Committed - COP Debt Service $474,603 $410,188
Assigned- Charter ADA $186,511 0
Assigned - Salary Increase $115,355 $115,355
Revenue Limit Per ADA Reductions $457,321 0
Lottery $35,639 0
Available for budget shortfalls $660,177 $1,589,886
MULTI-YEAR PROJECTIONS (MYP) BUDGET ASSUMPTIONS
2012-13 First Interim 2013-14Projection
2014-15Projection
Statutory COLA 3.24% 2.00% 2.50% 2.30% 2.70%
Deficit Factor 22.272%$0.77728 per $1.00
22.272%$0.77728 per $1.00
22.272%$0.77728 per $1.00
Revenue Limit (RL) w/ COLARL w/ deficitLoss per ADA
$6,912.36$5,372,84$1,539.52
$7,041.36$5,473.11$1,568.25
$7,192.36$5,590.48$1,601.88
State Categorical ProgramsCOLA
0 0 2.30%
Ed Jobs Funds ($222,813 final entitlement)
$12,506 0 0
Federal Funds COLA 0 0 0
Average Daily Attendance (ADA) 1040 K-8 plus 6.42 County = 1046.42
1040 K-8 plus 6.42 County = 1046.42
1040 K-8 plus 6.42 County = 1046.42
Lottery BaseLottery Prop 20
$124.25$30.00
$124.25$30.00
$124.25$30.00
California Consumer Price Index 2.30% 2.5%
MYP BUDGET ASSUMPTIONS (CONTINUED)
Salaries and Benefits: No changes to staffing Included step increase for all eligible employees No changes to statutory benefits Health, Dental, Vision contribution – based on current contributions
Adjusted for one-time expenditures for textbooks and TK start-up;
Fund Balance Reserves: Reserves for Economic Uncertainty – Five percent of expenditures Committed one COP (COP REFI) debt service payment in reserves Assigned funds for salary increase in 2012-13
MULTI-YEAR PROJECTIONS2012-13 First Interim
2013-14 Projection
2014-15 Projection
Beginning Fund Balance $3,077,693 $2,598,493 $2,077,653
Revenue $7,917,900 $8,004,147 $8,161,053
Expenditures $8,397,100 $8,524,987 $8,688,528
Net Increase (Decrease) in Fund Balance
($479,200) ($520,840) ($527,475)
Ending Fund Balance $2,598,493 $2,077,653 $1,550,179
Revolving Fund & Restricted
$64,526 $64,526 $64,526
Commitment- COP $410,188 $410,188 $408,788
Reserved for Economic Uncertainty
$418,540 $426,249 $434,426
Assignment - Salary Increases
$115,355
Available for budget shortfalls
$1,589,886 $1,176,691 $642,439
CASH
Deferrals continue to be a concern – we monitor cash closely every month and will continue to do so throughout the year:We will be receiving a balloon payment in June. No information on timing of payment, which is a concern.
State has eliminated a couple of deferrals (January payments moved to December; No March deferral)
Current cash balance in county treasurer for the General Fund - $1,992,243 (as of October 31,
2012)
CAFETE
RIA F
UND – FU
ND
13
FUND 13 - CAFETERIA FUND
Category 2012-13 Budget
2012-13 First Interim
Change Notes
Beginning Balance $500 $1.00
500.00
Revenue $410,600 $410,600
Expenditures $429,527 $432,480 $2,953 Adjusted salaries to actual contracts
Net Increase (Decrease) in Fund Balance
($18,927) ($21,880) -
Transfer In (From General Fund)
$18,927 $21,880 $2,953
Ending Balance $500 $1.00
500.00
DEFERRED M
AINTE
NANCE
FUND F
UND 14
FUND 14 - DEFERRED MAINTENANCE
Category 2012-13 Budget 2012-13 First Interim
Notes
Beginning Balance $100,139 $100,205
$100,139
Revenue $1,500 $1,500 Interest Earnings on cash at County
Expenditures $15,000 $15,000
Net Increase (Decrease) in Fund Balance
($13,500) ($13,500)
Ending Fund Balance $86,639 $86,639
Committed – Deferred Maintenance
$86,639 $86,639
CAPITA
L FACILI
TIES F
UND
FUND 2
5
FUND 25 ASSUMPTIONS AND SUMMARY Revenue Developer Fees:
Interest earnings - $450 Certificates of Participation 2012 - Refinanced CFD #1 Series 2007 BAN - $3,705,000 Certificates of Participation 2012 REFI – Refinanced COP Series 2007 $6,580,000
Expenditures Debt Service Payments
COP 2012 Series 2007 - $6,705,751 COP 2012 BAN REFI - Interest only payment = $94,586 COP 2012 COP REFI - $75,988
Consulting fees - $21,500 for fee study, disclosures, trustee fees and developer negotiations
Developer Impact Fees Collected
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13
$27K $196K $250K $239K $170K $47,145 (YTD)
FUND 25 – CAPITAL FACILITIES FUNDCategory 2012-13 Budget 2013-14 MYP 2014-15 MYP
Beginning Balance $518,966 $500,713 $876,984 $876,984
Revenue
Impact Fees & Interest $47,605 $450 $450
Refinancing of COP and CFD $10,285,000 0 0
Transfer from Fund 52 for COP
Transfer from Fund 52 for REFI
$106,577$63,125
$583,250 $581,851
Total Revenue $10,502,307 $583,700 $582.300
Expenditures
Services/Other Operating $688,957 (includes closing cost of Refi’s)
$21,500 $21,500
Debt Service $6,705,751 COP 2007 payoff$75,988 COP REFI$94,586 BAN REFI
$410,188 COP REFI$152,013 BAN REFI
$408,788 COP REFI$152,013 BAN REFI
Interfund Transfers Out $2,579,007 (Fund 52 for CFD 1 2007 Refi)
0 0
Total Expenditures $10,144,289 $583,700 $582,300
Net Increase (Decrease) in Fund Balance
$358,018 ($0.27) 0
Ending Fund Balance $876,984 $876,984 $876,984
Cash w/ fiscal agent $25,010 $25,010 $25,010
Assigned for Land Purchase from County
$851,974 $851,974 $851,974
DEBT SERVIC
E FUND
FUND 5
2
FUND 52 ASSUMPTIONS AND SUMMARY • Revenue
• Community Facilities District (CFD) Mello Roos taxes are collected in January and June:
• CFD #1 - $320 per home annual for total of $506,560• CFD #2 - $400 per home annual for total of $170,000 (increase of 14
homes)• Interest earnings for cash at county and cash with fiscal agent - $5,770
• Expenditures • Report fees - $600• Debt Service payments
• CFD #1-2005- Principal and Interest debt service payment $306,075• CFD #2 2007- Principal and Interest debt service payment $86,938• CFD #1 2007- Principal and Interest debt service payment $$2,579,007
• Transfers to other Funds:• Transfer to Fund 25 for COP payments - $106,577• Transfer to Fund 25 for REFI CFD #1 Series 2007 - $63,125• Transfer to Fund 01 for CFD Administrative Costs - $26,300
FUND 52 – DEBT SERVICE FUNDCategory 2012-13 Budget 2013-14
MYP2014-15 MYP
Beginning Balance $1,021,873 $994,763 $1,114,588 $789,056
Revenue
Mello Roos and Interest $682,330 $682,010 $682,010
Transfer from Fund 25 $2,579,007
Total Revenue $3,261,337 $682,010 $682,010
Expenditures
Other services $600 $600 $600
CFD #1 Series 2007 Payoff $2,579,007
CFD #1 Series 2005 $306,075 $306,720 $307,050
CFD #2 Series 2007 $86,938 $90,672 $89,266
Transfers Out (Fund 01 and 25)
$26,300 (Fund 01 – CFD Admin)$63,125 (Fund 52 – CFD 1 payoff)$106,577 (Fund 52 – COP Debt service)
$26,300$583,250
$26,300$581,850
Total Expenditures $3,168,622 $1,007,542 $1,005,067
Net Increase (Decrease) $92,715 ($325,532) ($323,057
Ending Fund Balance $1,114,588 $789,056 $465,999
Cash w/ fiscal agent $402,656 $402,656 $402,656
Assigned – Debt Service $711,932 $386,399 $63,343
SUMMARY AND RECOMMENDATION• We have lost millions in State Aid since the state budget crisis began in 2008-09::
• 2012-13 - $1.6M (projected)• 2011-12 - $1,4M• 2010-11 - $1.2M• 2009-10 - $1.2M• 2008-09 - $487K
District will be deficit spending in the current budget year and two subsequent years. District has managed the budget through the State financial crisis and has sufficient
fund balance to help deal with the fifth year of this budget crisis. Based on multi-year projections and current assumptions staff recommend the Board
approve First Interim with a positive certification and the budget adjustments within.
ANY QUESTIONS?