Second Interim Budget Fiscal Year Leon Glaster, Assistant Superintendent Business Services Madeline Gabel, Director Business Services March 20, 2007

Acknowledgments The development of the Second Interim Report would not be made possible without the dedicated work of certain individuals who deserve special recognition today….. Doug D’Amour, Accounting Manager Kathy Lan, Budget Technician Teresa Zumbo, Community Services/AP

Overview This is the second of two interim reports filed during the fiscal year on the District’s financial status. A positive certification is assigned when the District will meet its financial obligations for the current and two fiscal years

Revenue Comparison Between Reporting Periods Funds First Interim Reporting Second Interim ReportingDifference General Unrestricted + Restricted$67,411,758$69,213,517$1,801,759 Adult$5,015,527$5,741,794$726,267 Cafeteria$2,536,899 $0 Deferred Maintenance$717,556 $0 Special Reserves$591,736 $0 Building Fund$30,446,216$32,919,886$2,473,670 Capital Facilities$451,555 $0 County School Facilities$0 Self Insurance$1,414,907 $0 Total$108,586,154$113,587,850

Revenue Variances Between Reporting Periods General Fund  Additional equalization funding $4.19/ADA and 60 Revenue Limit ADA +$368,203 (Unrestricted)  Increase in Hourly Programs +$277,276 (Unrestricted)  Decrease Prior Year Revenue Limit Adjustments -$284,978 (Unrestricted)  ASES Prop 49 +$562,500 (Restricted )  Arts and Music Block Grant +$141,829 (Restricted)  Microsoft Voucher Program +399,434 (Restricted one-time) Adult Fund  Chabot College donation $500,000  Head Start matching fund $250,000 Building Fund  General Obligation Bond Series A closed on March 7, 2007 at higher rates

Expense Comparison Between Reporting Periods Funds First Interim Reporting Second Interim ReportingDifference General Unrestricted + Restricted$68,557,019$70,730,430$2,173,411 Adult$6,274,473$6,829,806$555,333 Cafeteria$2,705,383$2,705,587$204 Deferred Maintenance$801,330$818,110$16,780 Special Reserves$0 Building Fund$31,349,378$19,998,227($11,351,151) Capital Facilities$2,024,698$1,995,712($28,986) County School Facilities$0 Self Insurance$1,633,811$1,639,877$6,066 Total$113,346,092$104,717,749

Expense Comparison Between Reporting Periods General Fund – mainly found in the Services and Other Expense category  ASES Prop 49 +$531,362 (Restricted)  Title 1 +89,718 (Restricted)  Special Ed Transportation +482,322 (Restricted) Adult Fund – related to the new Community Learning Center construction costs Building Fund – shifted the expenditures of bond projects out into subsequent years

General Fund Unrestricted Summary Description First Interim Reporting Second Interim ReportingDifference Revenues50,572,77350,960,467387,694 Expenditures46,652,52247,126,536474,014 Other Financing Sources/Uses(4,354,267)(4,179,100)175,167 Net Increase/ (Decrease) in Fund Balance(434,016)(345,169)88,847 Beginning Fund Balance July 1st648,300 0 Ending Fund Balance June 30th214,284303,13188,847 Special Reserve Fund Designated for Reserves2,056, ,121, ,201 RESERVE LEVEL3%

General Fund Restricted Summary Description First Interim Reporting Second Interim ReportingDifference Revenues15,821,37517,235,4401,414,065 Expenditures20,539,19422,224,6331,685,439 Other Financing Sources/Uses4,006,5743,817,449(189,125) Net Increase /(Decrease) in Fund Balance(711,245)(1,171,744)(460,499) Beginning Fund Balance July 1st1,743,922 0 Ending Fund Balance June 30th1,032,677572,178(460,499)

Unrestricted General Fund Multi Year Assumptions Unrestricted General Fund Average Daily Attendance (ADA)8, , Revenue Limit COLA5.92%4.04%2.70% Revenue Limit COLA $/ADA$308$225$ Revenue Limit Deficit000 Ongoing Equalization $/ADA$ Prior Year Revenue Limit Adjust($284,978)00 Indirect Cost Rate4.54%1.35%4.00%

Multi-Year Projection General Fund Unrestricted Description Revenues$50,960,467$52,648,750$54,012,972 Expenditures$47,126,536$49,484,913$49,720,352 Other Financing Sources/Uses($4,179,100)($2,990,278)($3,090,658) Net Increase / (Decrease) in Fund Balance($345,169)$173,559$1,201,962 Beginning Fund Balance July 1st$648,300$303,131$476,690 Ending Fund Balance June 30th$303,131$476,690$1,678,652 Special Reserve Fund (Fund 17) Designated for Economic Uncertainties$2,121,912$2,185,761$2,197,303 RESERVE LEVEL3%

Second Interim Budget Summary All funds balance General Fund Unrestricted resources continue to deficit spend and has minimal available reserves Governor’s May Revise proposal could negatively impact future year projections.

Thank you!