1. Cambrian School District 2012-13 First Interim Report December 20, 2012 Presented by: Don Fox Interim CFO

2. First Interim Report ● School boards are required to certify the projected year end and subsequent years’ financial condition twice a year ■ Known as Interim Reports ● The First Interim is a snapshot of the District’s financial position as of October 31, 2012 ● Included in this report is a multiyear projection for fiscal years 2013-14 and 2014-15 1

3. Revenue Changes from Adopted Budget to First Interim Report Rev. Limit $ Federal 71,634 Other State Other Local Total $ General Fund Revenue Changes from Adopted Budget to First Interim Report 2

4. Expenditure Changes from Adopted Budget to First Interim Report 3 1xxx $ 174,373 2xxx 45,354 3xxx 91,486 4xxx 29,784 5xxx 43,295 6xxx 0 7xxx Total $ 373,183

5. Budget Assumptions and Multiyear Projections ● 2012-13: 3.24% revenue limit COLA with ongoing 22.272% deficit ● 2013-14: 0.00% revenue limit COLA with ongoing 22.272% deficit ● 2014-15: 2.30% revenue limit COLA* with ongoing 22.272% deficit ● From 2012-13 to 2014-15: Revenues in other state and federal funding remains “flat” – no COLA applied ● ADA projected to be static in “out” years ● CSR Flexibility expires after 2013-14. 4 *Based on State’s ability to fund

6. Certification of Financial Condition ● The recommendation from staff to the Board is to approve the First Interim Report as submitted ■ Positive Certification  This means that based upon current assumptions and projections the District will meet its financial obligations for the current fiscal year and subsequent two fiscal years 6

7. Questions ● Questions?