Ramona Unified School District First Interim Report December 18, 2008

Interim Reports What is an Interim Report? A report of the district’s financial status, including revised projections and activity through a certain point in the fiscal year Why have an Interim Report? For review of the financial condition of district To provide status report to interested parties To determine whether revisions are needed To determine if district will meet financial obligations

First Interim Report Must bring budget to the Board four times a year July 1 st – Adopted Budget of the year December 15 th -- First Interim Report March 15 th -- Second Interim Report September 15 th -- Unaudited Actuals Keep Board apprised of budget assumptions and new developments

Budget Budget shows a plan for spending Budget constantly changes as new information is received and incorporated into adopted Budget Most change occurs from the adoption of the Budget on July 1 until the First Interim State of California budget is not even signed

The Numbers Total Revenues$54,818,681 Total Expenses$58,810,120 Difference ($ 3,991,439) Beginning Balance$ 5,762,318 Ending Balance*$ 1,770,879 Beginning Unrestricted $ 3,011,630 Ending Unrestricted*$ 1,770,879 *Projected Ending Balances

The Numbers Components of the ending fund balance $1,770, Budget$ 1,200,000 Accrued Vacation $ 490,679 Other$ 26,416 Remaining Balance$ 53,784 Percentage Reserve $1,764,304 to meet required 3% reserve 3.01% general fund projected ending balance

The Numbers RUSD is projected to deficit spend by $3.9 Million However, carryover from must be factored into the current budget, which inflates your expenditures without adding revenues to offset them, thus creating deficit spending Carryover creates a big difference in the expenditure budgets from the July adopted budget to the First Interim Report

Carryover Factored Into Budget Carryover in Ending Balance Budget$1,200,000 Vacation Balance$ 490,679 Other$ 66,300 Carryover in Budget Site Block, API, GPA $ 4,457 Site/Dept. Carryover$ 606,110 CASHSEE$ 76,188 Montessori Training$ 6,400 One-Time Bonus$ 397,688 Limited English (LEP)$ 73,616

Carryover Factored Into Budget Lottery$428,053 State Instructional Material$612,898 Arts, Music P.E. Grants$212,355 School/Library Impr.$157,001 RRMA$509,378 Site Block Grants$104,596 School Safety Grants$ 89,730 Economic Impact Aid (EIA)$ 98,080 Medical$148,514 Other Restricted Programs$240,280

Carryover Factored Into Budget Other current year adjustments include: 6.5% increase to many State categorical programs Increase in federal dollars, more specifically 21 st Century Program for RHS and MHS Donation accounts for all the schools The majority of these dollars are expended for books and supplies object code

Major Changes State of California Budget Adoption 0.68% COLA to Revenue Limit 6.5% increase to State categorical programs School is back in session, so enrollment numbers are tied into staffing needs Retirees, replaced positions, and new hires into salary schedule Salary settlements have been incorporated Health benefits have been finalized Dollars in ending balance have been distributed to sites and departments

Looking Ahead Normally, the Second Interim Report goes to the Board in March Will look at assumptions and make adjustments The State of California Financial Crisis January 13 th budget workshop by School Services of California, Inc.

Conclusion