1. RESPECT | INTEGRITY | LEARNING | TEAMWORK | ENTHUSIASM
 SAUGUS
Union School District
Excellence in Elementary Education
24930 Avenue Stanford, Santa Clarita, California Phone: /
First Interim Report
December 5, 2017
GOVERNING BOARD: Paul De La Cerda · Julie Olsen · David Powell · Christopher Trunkey · Judy Egan Umeck SUPERINTENDENT: Joan M. Lucid, Ed.D.
 RESPECT | INTEGRITY | LEARNING | TEAMWORK | ENTHUSIASM

2. Education Code Excellence in Elementary Education
Education Code (EC) Sections 35035(g), and require the Governing Board of each school district to certify at least twice a year to the District’s ability to meet its financial obligations for the remainder of that fiscal year and for the subsequent two fiscal years. This is called the Interim Report Process.
The Governing Board must certify that the District fits one of the following:
Positive - based upon the current projections, the District will meet its financial obligations for the current fiscal year and subsequent two fiscal years.
Qualified – based upon the current projections, the District may not meet its financial obligations for the current fiscal year or two subsequent fiscal years.
Negative – based upon the current projections, the District is unable to meet its financial obligations for the remainder of the fiscal year or the subsequent fiscal year(s).
It is the District’s intent to issue an Executive Summary to help our stakeholders understand the elements of the Standardized Account Code Structure (SACS) Interim Financial Report of the District.
Excellence in Elementary Education

3. First Interim Revenue Excellence in Elementary Education 2017-2018
General Fund (Fund 01.0 and Fund 01.1)
Approved Budget Combined
First Interim Budget Unrestricted
First Interim Budget Restricted
First Interim Budget Combined
LCFF Revenue
$ 75,803,351
$ 76,533,572 $
$ 76,533,572
Federal Revenue
$ 3,352,457 $
$ 3,443,183
$ ,443,183
State Revenue
$ 7,696,652
$ 3,236,627
$ 5,191,255
$ ,427,882
Local Revenue
$ 8,567,035
$ 1,668,109
$ 6,863,355
$ ,531,464
Transfers In
$ ,540
$ ,540
$ ,540
Contributions - SPED/Maint
$ (14,380,851)
$ 14,380,851 $
Total Revenue
$ 95,670,035
$ 67,307,997
$ 29,878,644
$ 97,186,641
Excellence in Elementary Education

4. First Interim Enrollment and ADA
Excellence in Elementary Education

5. Local Control Funding Formula Components
Supplemental Grant
Base Grant
Grade Span Adjustment
Targeted Instructional Improvement Block Grant
Home-to-School Transportation
Adjusted Base Grant
Add-ons
12-13 Award Level
Unduplicated Pupil Count
English Learners
Low Income
Foster Youth
Average Daily Attendance
27%
$820,262
$4,033,709
$74,067,375
TOTAL TARGET LCFF:
$78,921,346
Funded: $76,533,572
9,665.72
Excellence in Elementary Education

6. Local Control Funding Formula Target
Funded: $76,533,572
LCFF Entitlement Per ADA: 7,918
Excellence in Elementary Education

7. Total LCFF GAP * GAP Funding Percent:
LCFF GAP Funding
GAP Funding
Total LCFF GAP * GAP Funding Percent:
$4,203,089
x %
$1,815,315
Target Entitlement
$78,921,346
Total GAP =
$4,203,089
LCFF Floor
$74,718,257
LCFF Funding
$76,533,572
Excellence in Elementary Education

8. 2017-18 First Interim Combined Revenue
Total Unrestricted Revenue $81,688,848 Total Restricted Revenue $15,497,793
Excellence in Elementary Education

9. First Interim Expenditures
General Fund (Fund 01.0 and Fund 01.1)
Approved Budget Combined
First Interim Budget Unrestricted
First Interim Budget Restricted
First Interim Budget Combined
Certificated Salaries
$ 44,553,731
$ 36,217,600
$ 8,139,462
$ 44,357,062
Classified Salaries
$ 17,433,581
$ 9,769,048
$ 7,797,127
$ 17,566,175
Benefits
$ 21,583,547
$ 13,529,958
$ 8,583,067
$ 22,113,025
Books and Supplies
$ 3,420,428
$ 1,907,044
$ 1,638,564
$ ,545,608
Services and Operating Expenses
$ 8,776,238
$ 6,730,339
$ 2,759,905
$ ,490,244
Capital Outlay
$ 1,817,085
$ ,000
$ 1,747,085
$ ,817,085
Other Outgo-(excludes indirects)
$ 1,597,414
$ ,297
$ 1,386,971
$ ,047,268
Other Outgo-(indirects)
$ (23,255)
$ (299,230)
$ ,975
$ (23,255)
Total Expenditure
$ 99,158,769
$ 68,585,056
$ 32,328,156
$ 100,913,212
Excellence in Elementary Education

10. 2017-18 First Interim Unrestricted Expenditures
Total Unrestricted Expenditures $68,585,056
87.34% of Expenditures Pays Employee Salaries and Benefits
Excellence in Elementary Education

11. 2017-18 First Interim Restricted Expenditures
Total Restricted Expenditures $32,328,156
75.85% of Expenditures Pays Employee Salaries and Benefits
Excellence in Elementary Education

12. 2017-18 First Interim Combined Expenditures
Total Combined Expenditures $100,913,212
83.28% of Expenditures Pays Employee Salaries and Benefits
Excellence in Elementary Education

13. First Interim Fund Balance
General Fund (Fund 01.0 and Fund 01.1)
Approved Budget Combined
First Interim Budget Unrestricted
First Interim Budget Restricted
First Interim Budget Combined
Fund Balance
Beginning Fund Balance - July 1
14,100,248
10,719,280
3,255,232
13,974,512
Ending Fund Balance - June 30
10,611,514
9,442,221
805,720
10,247,941
Nonspendable-Revolving Cash/Stores
39,860
39,699 -
Restricted
1,614,662
Reserve for Economic Uncertainties - Fund 01
8,956,992
9,402,522
Reserve for Economic Uncertainties - Fund 17
2,812,067
3,000,639
Unassigned Ending Fund Balance
Total Available Reserves by Amount
11,769,059
12,403,161
Total Available Reserves by Percent
11.87%
12.29%
State Reserve Requirement - 3% of Total Expenditures MET
Excellence in Elementary Education

14. Components of Ending Fund Balance
Excellence in Elementary Education

15. Other Funds
Excellence in Elementary Education

16. Budget Assumptions
Excellence in Elementary Education

17. Historical and Projected Pension Data
Excellence in Elementary Education

18. Historical and Projected Employer Pension Rates
Excellence in Elementary Education

19. Retirement System Employer Rates
Retirement System Percentage Increases
STRS = 51.83% increase from to
PERS = 71.37% increase from to
Excellence in Elementary Education

20. Unrestricted General Fund - MYP
Excellence in Elementary Education

21. Restricted General Fund - MYP
Excellence in Elementary Education

22. Combined General Fund - MYP
Excellence in Elementary Education

23. Combined Fund Balance - MYP
Excellence in Elementary Education

24. Final Notes
The District’s current financial position is positive and the District’s ability to manage its cash flow is effective without the need to borrow.
The District must continue to be prudent in the development of its budgets to ensure fiscal solvency.
The release of the Governor's Budget Proposal in January 2018 is our next opportunity for potential revenue adjustments.
Excellence in Elementary Education

25. Questions?
Excellence in Elementary Education