Unaudited Actuals September 9, 2014 Anna Pimentel Director, Fiscal Services Ken Forrest Chief Business Officer 1

General Fund 2

General Fund – Ending Fund Balance 3

FY 14 – Major Changes Change in funding formula from revenue limit to Local Control Funding Formula – 5.40% – Buys down deficit over time – $3.46 million categorical funds rolled into formula – 24 categorical funding streams – Programs maintained moving forward – Instructional Materials, Deferred Maintenance, Home-to-School and Special Education transportation, Class size reduction Common Core State Standards - $1.098 million California Clean Energy Jobs Act - $130,000 4

Contributing Factors to Increased Fund Balance Instructional Materials budgeted but unspent - $1.2 million Roofing Projects transfer to Deferred Maintenance Fund - $579,820 Lower costs: – Certificated Salaries - $149,000 – Utilities - $89,104 – Legal fees – $33,704 – Consultants - $77,516 – Other Services - $160,123 5

Other Funds Cafeteria Fund – Reduction of $28,858 due to increased food costs, administrative FTE and reduced a la carte sales at secondary Deferred Maintenance, Building Fund and Construction Fund – major maintenance included re-roofing projects at Cambridge and Vanden High School 6

Other Funds (Continued) Other Post Employment Benefits Fund – minimal activity. Will need to provide for contributions in near future per GASB 45 actuarial report. Capital Facilities Fund – minimal activity. This fund provided cash flow support in prior years. The library project, funded by developer fees, is the primary activity in this fund. 7

Other Funds (continued) Special Reserve for Capital Outlay Projects – minimal activity. Future Scandia Elementary modernization project/activity will be maintained in this fund. Community Facility District Funds – CFD#2 saw increased housing permit activity of $1.134M in addition to Mello Roos taxes. CFD #1 activity limited to Mello Roos taxes. 8

Other Funds (Continued) Scholarship Fund – Multiple scholarships were awarded this school year. Pupil Transportation Equipment Fund – Purchased 5 new buses with Bay Area Air Quality Management Grant. 9

Negative / Qualified / Positive Status History 10

Fund Balance Limitation LCFF 11

Fund Balance Limitation LCFF 12

Fund Balance Limitation LCFF 13

Fund Balance Limitation LCFF 14

Gann Limit 15 Forecasted

Questions? 16