1. Board of Trustees March 16, 2011
Second Interim Report
Board of Trustees
March 16, 2011

2. Tonight’s Presentation
Second Interim Report
Past Trends
Budget Targets as of Second Interim
Next Steps

3. Purpose
The Board of Trustees certifies twice a year the district’s ability to meet its financial obligations for the remainder of the current fiscal year and for the subsequent two fiscal years.
Business Services agenda item B- 17 requests the Board certifies the Second Interim.

4. Past History
District’s Adopted Budget Based on State Revenue
$110,339,615
$108,379,739
$97,210,156
$90,065,155

5. Budget Assumptions The Second Interim was built upon
$349 less per student (required by LACOE)
WVUSD 14,515 X $349 = $ 5,065,735 less funding
Flat enrollment
Remaining “Obama Funds”
$1,039,708 in reserve account
Must be expended by June 2012
4 Furlough Days budgeted for

6. Budget Targets
2010 – 2011
2011 – 2012
$ 9,842,322
$ 2,792,870
($ 7,079,091)

7. Financial Goals Short Term Long Term
Identify budget adjustments to balance 2012 – 2013
By June 1, 2011 – Third Interim Report
Long Term
Expenditures exceed revenues by
2011 – $3,338,197
2012 – $5,048,324

8. Next Steps Qualified Budget at 2nd Interim 2012 – 2013 is negative
We will have to submit a Third Interim to the County by June 1, 2011
The Third Interim must show a list of budget adjustments to ensure 2012 – 2013 is positive

9. Next Steps cont.
By June 30, 2011
The 2011 – 2012 Budget Adoption is due
The third year out then becomes

10. Weather the Storm Together