1. Financial Update Fiscal Year 2017-2018
September 10, 2018
Work Session

2. REVENUE - What went better than planned?
Earned Income Revenue - $563K better than budget
Delinquent Occupational Tax - $114K better than budget
Interested Earned - $113K better than budget
BEF and SEF Subsidy - $77K better than budget
Transportation Subsidy - $172K better than budget
RE collection rates – %, %, % %
PLANCON reimbursement for 15, 16, & 17 – 11% to 20% reimbursement amount
780K
LASD Financial Update

3. REVENUE – less than budget
Tuition Orphans & Child - $20K less than budget
Title I and II - $32K less than budget
LASD Financial Update

4. EXPENSES – What went better than plan?
Health Insurance - $346K better than budget
PA Charter School Tuition - $175K better than budget
Supplies - $71K better than budget
LASD Financial Update

5. EXPENSES – More than budget
Special Education - $427k more than budget
Capital Reserve Transfer - $1.555M more than budget (Athletic Project and Food Truck)
$93000 for Capital Lease
LASD Financial Update

6. Wages, Spec Ed, Medical, PSERS, Transportation
LASD Financial Update

7. LASD Financial Update

8. LASD Financial Update

9. Fund Balance and Capital Reserve
LASD Financial Update

10. LASD Financial Update

11. Recommendation
If the bottom line stays the same, place $300,000 - $500,000 into Capital Reserve, effective June 30, 2018
Current Capital Reserve (Unassigned) - $350K
Funds available for Capital Needs
Capital Needs will be discussed at the October Finance Committee meeting and November board meeting
LASD Financial Update

12. 2018 – 2019 Budget Timeline November December January
10 year Facilities/Capital Project Plan
Capital Project List
Saving for MS/HS – 2024
December
Capital Project List Approval
Present 1st Budget Draft – Static Budget
Board decision either explore going above the index or adopt an resolution not to exceed adjusted index
January
Present 2nd Budget Draft – District Priorities
Set Mills aside for MS/HS 2024
LASD Financial Update