1. Walnut Valley Unified School District 2014 – 2015 Unaudited Actuals
September 16, 2015
Michael R. Hodson
Assistant Superintendent, Business Services

2. Purpose
Discuss changes to the Estimated Actuals submitted with the Budget
Update the Board on current financial forecast

3. Unaudited Actuals
Represents the official financial activity for the preceding year.
Reflects changes from Estimated Actuals projected during budget process
Incorporates changes into the current year’s budget projections
WVUSD: minimal variation from predictions
Expenditures projected within less than $73k (.07%)
Local Revenue exceeded expectations
Community Club / Boosters - $633k
Reimbursement from prior year - $263k
Facility use - $118k

4. Adjustments to 2015-2016 Beginning Balance* $12.3m (9.5%)
Net Increase $ 3.6m
One time funds ($8m?)
Salaries
Deficiencies
Unforeseen events
Projected Ending Balance* $15.9m (12.2%)
Reserve for Economic Uncertainties $ 3.8m
GAP Reserve $10.2m
* Unrestricted, General Fund

5. Concerns Future funding is uncertain at best
Stock market indices all down by 6% in August
Prop 30 begins to expire this year
LCFF disfavors WVUSD
PERS/STRS increases not supported by additional revenue
$6.1m annual, additional cost, at current payroll, by 20/21
Legislative Environment’s effects on costs and enrollment
Revenue estimates include inflation, expense estimates do not

7. Competing Demands for Resources
Existing Deficiencies:
Site requirements
Personnel Reinstatements
Salaries
Infrastructure

8. Summary Actual expenses were accurately projected in estimates
Near term prospects are good – Bond, one-time revenue, Prop 98 growth
Long term outlook presents challenges