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Published byRagnhild Helene Rønningen Modified over 5 years ago
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2018-19 Second Interim Budget
Alum Rock Union Elementary School District Second Interim Budget March 14, 2019 Presented by: Kolvira Chheng, Asst. Supt., Business Services
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Agenda Budget Cycle Purpose/Reason for Interim Reporting
Changes from First to Second Interim Multi-Year Projections Next Steps
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Budget Cycle Adopted Budget (June 2018) First Interim (December 2018)
Second Interim (March 2019) Unaudited Actuals (September 2019) Audited Financials (December 2019) Third Interim (June 2019)
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Purpose/Reason for Interim Reporting
School Boards are required to certify projected year end and subsequent years’ financial condition twice a year: Using “Interim Reports” (Ed Code and 35035) Typically During December and March of each year The Second Interim includes a snapshot of the District’s financial positions as of January 31, 2019 This Second Interim includes the multiple year projections for current and two subsequent years
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Purpose/Reason for Interim Reporting
Assumptions changes constantly. Administration utilizes the most current information available and continually monitors significant assumption changes, including but not limited to: Enrollment and Average Daily Attendance (ADA) Cost of Living Adjustment (COLA) Staffing changes Federal, State and Local funding amounts (LCFF, Lottery, Parcel Tax, Property Tax, Title I) Labor negotiations Cash flow New laws impacting financials
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Enrollment History
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Enrollment Projection
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Changes in LCFF and One-Time Funding per Governor’s 2019-20 Budget Proposal
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Changes in Unrestricted General Fund
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Key Assumptions – MYP - Unrestricted General Fund
Revenues Full implementation of LCFF starting in Prior year P-2 ADA for District’s LCFF due to declining enrollment Current year ADA for Aptitud’s LCFF calculation COLA based on DOF’s recommendation Remove one-time funds Expenditures Increase Step and Column for all three years Increase STRS and PERS rates for all three years Increase contribution for Special Education Program for all three years Comply with 3% contribution requirement to Routine Restricted Maintenance Account (RRMA) for all three years Comply with LCAP’s Minimum Proportionality Percentage (MPP) requirement Implementation of the Supplemental Early Retirement Plan (SERP) Savings of approx. $5.6M in certificated salaries for Board approved in February 2019 Savings of approx. $1.5M in classified salaries for Will be presented for Board’s consideration in April 2019 Savings of approx. $1.9M in employee benefits for Savings of approx. $1.6M in material and supplies for to align with declining enrollment and district’s needs Savings of approx. $1.8M in contract services for to align with declining enrollment and district’s needs Savings of approx. $3.5M in certifcated salaries for 40 FTEs in to align with declining enrollment
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Multi-Year Projection Unrestricted General Fund
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Next Steps May Revise Third Interim – June 2019
Public Hearing for Budget and LCAP – June 2019 Adoption of Budget and LCAP – June 2019
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Thank you and Questions
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