Cambrian School District Unaudited Actuals September 18, 2014 Jason E. Vann, CFO

Themes  Summarize Unaudited Actual Results  Next Steps

Unaudited Actuals  In accordance with Ed Code 42100, the Board must approve the unaudited actuals prior to submission to the County  District completed the close of the books on August 29  The following slides summarize the unaudited actuals for which reflect actual revenues, expenditures and fund balances as of June 30, 2014

General Fund Revenues - $26.2M LCFF $$ comes from 2 source:  Property Tax $11,996,272 57%  State Aid $ 8,987,920 43%  LCFF Total$20,984, % State has not certified the portion of LCFF revenue that is base grant vs. supplemental grant

2 nd Interim vs. Unaudited Actuals - Revenue  $659k increase compared to 2 nd interim the bulk of which related to last minute increase by State in per ADA funding ($248k), Prop 39 funds ($215k), one-time Program Improvement Funds ($135k) and Other ($61k)  $1.6M increase from Adopted Budget due to Common Core ($677k), Prop 39 ($516k), late increase in per ADA funding ($258k), and other ($200k)

General Fund Expenditures - $28.0M 81% of expenditures attributed to salaries and benefits  $1.2M increase over prior year for restoration from furlough

2 nd Interim vs. Unaudited Actuals - Expenditures  $468k decrease compared to 2 nd interim the bulk of which related to restricted expenditures for Common Core and Prop 39 pushed to future years.  $1.8M increase from Adopted Budget bulk due to negotiated salary and benefit increases and increase in Special Education program expenditures

General Fund Ending Balance - $6.7M Unrestricted Fund Balance $5.6 million  MYP Deficit Spending (Per Adopted Budget)$3,166k  5% Reserve for Economic Uncertainty$1,400k  LCFF Deferrals$ 629k  Cash Flow / Strategic Plan$ 455k Restricted Fund Balance $1.1 million  Prop 39 Clean Energy Jobs Act (Price Ceiling)$ 516k  Common Core (2 PD days, Math Adoption)$ 430k  Lottery (Instructional Materials)$ 80k  Restricted Donations and Other$ 57k

Next Steps  County Office of Education will review the Unaudited Actuals  External auditors will perform the final audit procedures next week  Final audit report will be presented to the Board by VTD in late Board by VTD during November of 2014

Clarifying Questions?