Palm Springs Unified School District Adopted Budget

OE-5 Compliance Summary 2  Annual Budget prepared and presented: 1. In summary format for each District fund 2. Clear description of revenues and expenditures 3. Includes current year estimates, budget year and multiyear projections 4. Provides assumption data 5. Budget developed to assure fiscal soundness in future years 6. Reflects salary adjustments 7. Limits expenditures 8. Includes fund balance of no less than 3% of the General Fund

State Budget News 3  A Budget deal has been reached – no signature yet  Local Control Funding Formula agreement but the details are unknown  $4.6 million in LCFF funding projected for  Strong Revenues reported for May  Revenues up $939 million or 17.4% over projections  Local Control Accountability Plan  Implementation expected by June 2014

PSUSD Budget Highlights  PSUSD Adopted Budget is based on assumptions in the May Revise plus a portion of LCFF  Adjustments will be required per AB 1200 within 45 days after the State Budget is signed by the Governor  1% salary increase included in Fund Balance assignments

Adopted Budget Revenue Assumptions Adopted Projected Projected Projected ADA21,31321,278 ADA Growth/Decline from prior year0-350 PSUSD Revenue Limit$6,913.54$7,038.14$7, Revenue Limit Deficit PSUSD Revenue Limit after deficit$5,600.17$5,701.10$5, Revenue Limit COLA1.565%1.80%2.20% Estimated Statewide Average Revenue Limit$6,853$6,976$7,130 LCFF Revenues Included$932,046$3,213,339$5,053,862 Other State Revenues0% Lottery Revenues – unrestricted$ Lottery Revenues – restricted Prop 20$30.00

Adopted Budget Expenditure Assumptions Adopted Projected Projected Step and Column CostsIncluded$1,964,097$2,002,988 Additional Certificated Staff20.6 FTE12 FTE13 FTE Estimated Retirement Savings$500,000 Additional staff development day $500,000 Fringe Benefits adjustmentsIncluded$275,828$284,749 Election Costs$0$125,000$0 Utility IncreasesIncluded$154,603$158,468 Rancho Mirage HS additional costsIncluded$263,864 Expenditure increases (student supplies, etc)Included$69,699$71,446

Multiyear Projection - Unrestricted 7 Description Total Revenues$133,609,675$138,443,311$145,729,049 Total Expenditures($130,757,604)($134,101,174)($135,939,067) INCREASE (DECREASE)$2,852,071$4,342,137$9,789,982 Other Sources$3,854,500$2,554,500 Other Uses($1,029,345) Contributions($10,144,354)($9,816,625)($10,144,353) Net INCREASE (DECREASE)($4,467,128)($3,949,333)$1,170,784 Beg Balance, July 1 (estimated)$18,069,224$13,602,096$9,652,763 Ending Balance, June 30$13,602,096$9,652,763$10,823,547 Revolving Cash/Stores$270,000 Unassigned - Economic Uncertainties 3%$6,007,641$5,823,717$5,897,205 Board Designated (1% Salary Increase)$1,200,000$2,400,000$3,600,000 Assigned – MAA and Lottery$1,932,856$0 Estimated Excess/(Shortfall)$4,191,599$1,159,046$1,056,342

Multiyear Projection - Restricted 8 Description Total Revenues$48,739,461$48,804,625$48,895,079 Total Expenditures($67,534,621)($58,060,227)($58,671,946) INCREASE (DECREASE)($18,795,160)($9,255,602)($9,776,868) Other Sources$90,000 Other Uses($933,145) Contributions$10,144,354$9,816,625$10,144,354 Net INCREASE (DECREASE)($9,493,951)($282,122)($475,659) Beg Balance, July 1 (estimated)$41,441,819$31,947,868$31,665,746 Ending Balance, June 30$31,947,868$31,665,746$31,190,088

Multiyear Projection - Combined 9 Description Total Revenues$182,349,136187,247,936194,624,128 Total Expenditures($198,292,225)($192,161,400)($194,611,014) INCREASE (DECREASE)($15,943,089)($4,913,464)$13,114 Other Sources$3,944,500$2,644,500 Other Uses($1,962,490) Contributions $0 Net INCREASE (DECREASE)($13,961,079)($4,231,454)$695,124 Beg Balance, July 1 (estimated)$59,511,043$45,549,964$41,318,510 Ending Balance, June 30$45,549,964$41,318,510$42,013,634

Unrestricted Ending Fund Balances

Restricted Ending Fund Balances 11

Unrestricted Expenditures TOTAL - $130,757,604

Unrestricted Salaries and Benefits as a percent of total unrestricted budget YearCertificatedClassifiedBenefitsTotal Expenditures % $76,610,564$16,474,477$30,877,339$137,160, % $80,218,738$17,990,234$32,358,449$148,164, % $71,213,580$17,127,190$30,283,987$132,410, % $64,602,259$16,004,522$28,441,715$120,138, % $65,250,758$16,460,806$30,073,383$123,547, % YearADA , , , , ,515 Salaries and benefits continue to make up approximately 90% of PSUSD’s unrestricted general fund budget. 13 Cielo Vista Charter School is reported separately beginning Fiscal Year

Total Expenditures TOTAL - $198,292,225

Total Salaries and Benefits as a percent of total budget YearCertificatedClassifiedBenefitsTotal Expenditures % $95,458,873$25,596,679$39,884,661$160,940, % $97,857,563$27,112,563$41,570,807$198,594, % $91,343,968$26,272,385$40,575,364$186,948, % $86,589,46325,337,551$39,768,609$180,838, % $84,361,810$25,512,250$40,864,243$177,357, % 15 YearADA , , , , ,515 Total salaries and benefits continue to make up approximately 84% of PSUSD’s General Fund Budget. Cielo Vista Charter School is reported separately beginning Fiscal Year

Other Funds 16 Description Budgeted Revenues Budgeted Expenditures Increase (Decrease) Beginning Balance Ending Balance Charter School Fund 09$4,734,555($4,595,862)$138,693$2,217,462$2,356,155 Adult Education Fund 11$70,955($70,955)$0 Child Development Fund 12$2,613,115($2,613,115)$0 Cafeteria Fund 13$14,358,131($14,687,007)($328,876)$5,482,186$5,153,310 Deferred Maintenance Fund 14$818,095($1,921,000)($1,102,905)$1,917,193$814,288 Special Reserve Fund 17$47,000($3,800,000)($3,753,000)$12,549,110$8,796,110 Building Fund 21$50,000($38,000,287)($37,950,287)41,099,279$3,148,992 Capital Facilities Fund 25$1,575,000($6,815,652)($5,240,652)16,843,476$11,602,824 County School Facilities Fund 35$0 Special Reserve Fund 40$10,000($409,652)($399,652)$2,708,721$2,309,069 Bond Interest and Redemption Fund 51$0 $29,254,761

Self Insurance Funds 17 Description Budgeted Revenues and Sources Budgeted Expenditures and Uses Increase (Decrease) Beginning Balance Ending Balance Workers Comp (67)$5,253,501($2,523,073)$2,730,428($3,172,801)($442,373) OPEB (68)$1,865,438($1,865,438)$0$7,085,991 Property & Liability (69)$1,029,845($1,123,047)($93,202)$93,202$0 Total Funds$8,148,784($5,511,558)$2,637,226$4,006,392$6,643,618

OE-5 Compliance Review 18  Annual Budget prepared and presented: 1. In summary format for each District fund 2. Clear description of revenues and expenditures 3. Includes current year estimates, budget year and multiyear projections 4. Provides assumption data 5. Budget developed to assure fiscal soundness in future years 6. Reflects salary adjustments 7. Contains conservative assumptions 8. Includes fund balance of no less than 3% of the General Fund

Budget Adoption and OE-5 Compliance 19  Recommendation:  Adopt Budget as presented  Accept OE-5 as presented  CEO certifies that information presented is  Accurate and complete  In compliance