FIRST INTERIM REPORT LARKSPUR-CORTE MADERA SCHOOL DISTRICT

CHALLENGES OF LCMSD TRANSITION YEAR NEW STATE FUNDING MODEL NEW ACCOUNTABILITY REQUIREMENTS IMPLEMENTATION OF NEW CURRICULUM STANDARDS NEW TESTING METHODS (SBAC) CDE FOOD SERVICE AUDIT (with new regulations and audit format) NEW CHIEF BUSINESS OFFICER MORE COMMITTEES/MEETINGS/PLANNING

“WHAT’S THE DIFFERENCE?” (BETWEEN ADOPTED AND 1 ST INTERIM – GENERAL FUND) REVENUES No more identity crisis - LCMSD is “state funded”, not basic aid Enrollment LCFF/Property Taxes Cash Flow EXPENDITURES Staffing Two school  Three school model (start up costs, etc) LCAP & Common Core Plans

LOCAL CONTROL FUNDING THE FORMULA CORE COMPONENTS Calculation of district “floor” Minimum State Aid LCFF Target Target – Floor = gap YEAR-TO-YEAR FUNDING CHANGES ADA growth/decline COLAs Unduplicated EL, Free and Reduced counts %age of implementation (gap) funding (ends at full implementation of LCFF)

HOW IT LOOKS FOR LCMSD TARGET = $10,606,211 FLOOR = $ 8,396,621 PY Deficited Revenue Limit Base x CY ADA = $7,417,002 PY Categoricals = $979,619 GAP = $10,606,211 - $8,396,621 = $2,209,600 Funded at 11.78% = $260, TARGET = $11,021,513 (adjusted by COLA & growth) FLOOR = $ 8,811,992 (adjusted by growth & py gap adj) GAP = $ 2,209,522 Funded at 16.49% = $364,350

CASH FLOW – REVERSE ERAF “HOW MANY TRIPLE FLIPS CAN YOU DO?” WHAT HAPPENS TO CASH FLOW IN A STATE FUNDED DISTRICT? Do we flow upstream? Do we flow downstream? Do we just get washed out to sea? CASH FLOW and DEFERRALS Marin is “Teeter” County Basic Aid districts “paid” first State apportionment recalculated paid out beginning Feb Deferrals -> July