1. Unaudited Actuals Financial Report
Fiscal Year
Prepared by:
Leonard Kahn
April Juarez

2. Introduction
The Accounting Department has closed the books for the fiscal year 2017/18.
The results of their work are summarized in the “Unaudited Actuals Financial Report” and it is being presented for certification.
This is a requirement of Education Code Section 42100
After Board approval (certification), the report will be forwarded to San Joaquin County Office of Education for transmittal to Superintendent of Public Instruction (State).
The next step will be for the auditors to review this data and provide the Board with a report on their findings. 1

3. General Fund 2

4. .
General Fund 3

5. Fund 01 Ending Fund Balances Comparison (and Fund 68).
Fund 01 Ending Fund Balances Comparison (and Fund 68)
Fund 01 Ending Fund Balance Analysis UA UA
Net Change
Unaudited Actuals vs Unaudited Actuals
Total Reserve
$45,016,864.15
$64,007,755.18
$18,990,891.03
Ending balance up $18,990,891.03
Restricted Reserve
5,719,519.77
9,419,557.10
3,700,037.33
Ending balance up $3,700,037.33, money belongs to restricted programs
Total Unrestricted Recommended Reserve
25,323,275.60
39,357,274.00
14,033,998.40
Minimum reserve of $39,357, recommended by staff
Total Ending Fund Balance That Will be Expenditures
13,675,891.69
14,825,290.29
1,149,398.60
Delayed expenditures up $1,149,398.60
Reserve for LUSD Designated Economic Uncertainty
9,350,000.00
11,997,166.00
2,647,166.00
Reserve currently funded at 3.83% vs. 3.13% in
Ending Fund Balance for Instructional Materials
2,000,000.00
4,255,679.00
2,255,679.00
Ending balance up $2,255,679 to pay for text books and $1,000,000 wish list
Reserve for Special Education
1,000,000.00
(1,000,000.00)
Reserve down $1,000,000 , but increased in
Reserve for STRS/PERS Future Costs
3,623,275.60
10,000,000.00
6,376,724.40
Reserve for ~$7,000,000 STRS/PERS increase and ~$2,400,000 Cafeteria/Playground Monitors
Reserve for for Grade Span Adjustment -
No change in reserve, but reserve will function to offset k-3 growth if or when
Programs Carryover Ending Fund Balance
1,665,639.27
2,617,659.29
952,020.02
Unrestricted budgets carried over into new year
Purchase Order Commitments Ending Fund Balance
499,513.91
437,819.00
(61,694.91)
District purchases that did not clear in the prior year
Sites/Departments Carryover Ending Fund Balance
3,000,485.51
3,500,000.00
499,514.49
School site budgets that went unspent in prior year
Retain and Recruit Ending Fund Balance
6,010,253.00
548,453.00
(5,461,800.00)
Set aside spent on compensation, additionally another $8,500,000 placed in
Contingencies Ending Fund Balance
500,000.00
1,040,680.00
540,680.00
This money offsets unexpected increased expenditure
Safety & Security Ending Fund Balance
This money will be coupled with one-time money to upgrade safety and security
ACA Penalty Ending Fund Balance
425,000.00
This will be paid to IRS for LUSD employees choosing to purchase health insurance on the ACA exchange
Reserve for One-Time Money Carryover
3,684,020.00
This is a long-term reserve to offset HVAC investment and instructional services purchases
Reserve for Mandated Block Grant Carryover
1,335,040.00
Pure reserve
Reserve Economic Uncertainty (Statutory 3% of expenditures)
10,341,048.00
991,048.00
Statutory requirement, 3% minimum currently funded at 3.30% vs. 3.13% in
Fund 68 Deficit
($18,464,844) 4

6. General Fund 5

7. Other Operating Funds
Based on the recent Retiree Health actuarial liability for District-paid retiree benefits is $118,470,064.
Portion related to past service is $66,751,143 which is the present value of benefits earned to date.
Portion related to future service is $51,718,921. 6

8. Construction Funds 7

9. Outstanding bond indebtedness totals $220,282,657.
Debt Service Funds
Outstanding bond indebtedness totals $220,282,657. 8