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2013-2014 Unaudited ActualsSeptember 9, 2014

Anna PimentelDirector, Fiscal Services

Ken ForrestChief Business Officer

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General FundEstimated Actuals

2013 - 14Unaudited Actuals

2013 - 14COLA 1.57% 0.85%

% LCFF Gap Funded 11.78% 12.05%ADA 5363.56 5365.17 Difference

LCFF/State Aid $33,145,226.00 $33,222,814.82 $77,588.82 Federal Revenues $5,598,098.57 $5,259,518.41 ($338,580.16)Other State Revenues $2,319,479.00 $2,378,505.52 $59,026.52 Other Local Revenues $1,987,038.03 $1,748,424.22 ($238,613.81)

$43,049,841.60 $42,609,262.97 ($440,578.63)

Certificated Salaries $21,424,885.40 $21,136,251.69 ($288,633.71)Classified Salaries $6,902,222.72 $6,862,292.72 ($39,930.00)Employee Benefits $6,257,155.28 $6,305,761.12 $48,605.84 Books and Supplies $4,613,953.71 $2,810,497.50 ($1,803,456.21)Services and Other Operating $4,606,785.14 $3,719,560.09 ($887,225.05)Capital Outlay $181,531.00 $79,947.34 ($101,583.66)Other Outgo $994,281.00 $987,997.03 ($6,283.97)Direct Support/Indirect Cost ($60,667.00) ($67,821.18) ($7,154.18)Debt Service $362,907.00 $362,063.00 ($844.00)

$45,283,054.25 $42,196,549.31 ($3,086,504.94)($2,233,212.65) $412,713.66 $2,645,926.31

Interfund Transfers In $0.00 $0.00 $0.00 Interfund Transfers Out $30,084.00 $535,488.13 $505,404.13 All Other Financing Sources $0.00 $0.00 $0.00 All Other Financing Uses $0.00 $0.00 $0.00 Contributions $0.00 $0.00 $0.00

($30,084.00) ($535,488.13) ($505,404.13)($2,263,296.65) ($122,774.47) $2,140,522.18

Revenues

Total Revenues

Expenditures

Total ExpendituresExcess (Deficiency) of Revenues Over Expenditures

Other Financing Sources\Uses

Total Other Financing Sources\UsesNet Increase (Decrease) in Fund Balance

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General Fund – Ending Fund BalanceEstimated Actuals

2013 - 14Unaudited Actuals

2013 - 14COLA 1.57% 0.85%

% LCFF Gap Funded 11.78% 12.05%ADA 5363.56 5365.17 Difference

Beginning Fund Balance $8,877,397.04 $8,877,397.04 $0.00 Audit Adjustments $0.00 $0.00 $0.00 Other Restatements $933.00 $786.81 ($146.19)Adjusted Beginning Fund Balance $8,878,330.04 $8,878,183.85 ($146.19)Ending Fund Balance $6,615,033.39 $8,755,409.38 $2,140,375.99

a) NonspendableRevolving Cash $50,000.00 $50,000.00 $0.00 Stores $25,418.18 $25,621.44 $203.26 Prepaid Expenditures $0.00 $1,624.21 $1,624.21 Other Prepay $0.00 $0.00 General Reserve $0.00 $0.00

b) Restricted $276,491.35 $914,396.39 $637,905.04 c) Committed

Stabilization Arrangements (Structural Def Res) $0.00 $0.00 $0.00 Reserve for Deferred Maintenance $0.00 $179,692.00 $179,692.00 Designated for the Unrealized Gains of Investments and Cash in County Treasury

$0.00 $0.00

d) AssignedReserve for Technology Infrastructure $300,000.00 $300,000.00 $0.00 Reserve for Compensated Absences $257,466.48 $207,675.29 ($49,791.19)TUTA - Catastrophic sick Leave Bank $20,000.00 $20,000.00 $0.00 CSEA - Professional Growth $1,727.60 $1,727.60 $0.00 Reserve for New Financial System $3,016.00 $3,016.00 $0.00 Reserve for Scandia Match $1,029,000.00 $2,724,953.00 $1,695,953.00 Reserve for Benefit Cap Increase $230,160.00 $0.00 ($230,160.00)Incr in Reserve for Economic Uncertainties $732,508.04 $732,508.04 $0.00 Reserve for Instructional Materials $0.00 $571,483.88 $571,483.88 Reserve for School Violence Prevention $0.00 $44,139.15 $44,139.15 Reserve for MS & HS Counseling $0.00 $25,480.73 $25,480.73

e) Unassigned/UnappropriatedReserve for Economic Uncertainties $1,359,394.14 $1,281,961.12 ($77,433.02)Unassigned/Unapprorpriated Amount $2,329,851.60 $1,671,130.53 ($658,721.07)

Components of Ending Fund Balance

Fund Balance

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FY 14 – Major Changes

• Change in funding formula from revenue limit to Local Control Funding Formula – 5.40%– Buys down deficit over time– $3.46 million categorical funds rolled into formula – 24 categorical funding streams– Programs maintained moving forward – Instructional

Materials, Deferred Maintenance, Home-to-School and Special Education transportation, Class size reduction

• Common Core State Standards - $1.098 million• California Clean Energy Jobs Act - $130,000

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Contributing Factors to Increased Fund Balance

• Instructional Materials budgeted but unspent - $1.2 million

• Roofing Projects transfer to Deferred Maintenance Fund - $579,820

• Lower costs:– Certificated Salaries - $149,000– Utilities - $89,104– Legal fees – $33,704– Consultants - $77,516– Other Services - $160,123

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Other Funds

• Cafeteria Fund – Reduction of $28,858 due to increased food costs, administrative FTE and reduced a la carte sales at secondary

• Deferred Maintenance, Building Fund and Construction Fund – major maintenance included re-roofing projects at Cambridge and Vanden High School

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Other Funds (Continued)

• Other Post Employment Benefits Fund – minimal activity. Will need to provide for contributions in near future per GASB 45 actuarial report.

• Capital Facilities Fund – minimal activity. This fund provided cash flow support in prior years. The library project, funded by developer fees, is the primary activity in this fund.

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Other Funds (continued)

• Special Reserve for Capital Outlay Projects – minimal activity. Future Scandia Elementary modernization project/activity will be maintained in this fund.

• Community Facility District Funds – CFD#2 saw increased housing permit activity of $1.134M in addition to Mello Roos taxes. CFD #1 activity limited to Mello Roos taxes.

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Other Funds (Continued)

• Scholarship Fund – Multiple scholarships were awarded this school year.

• Pupil Transportation Equipment Fund –Purchased 5 new buses with Bay Area Air Quality Management Grant.

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Negative / Qualified / PositiveStatus History

2006-2007 Positive2007-2008 Qualified2008-2009 Qualified2009-2010 Negative2010-2011 Negative2011-2012 Negative2012-2013 Qualified2013-2014 Positive2014-2015 Positive

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Fund Balance Limitation LCFF

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Fund Balance Limitation LCFF

Fiscal Year

Non-SpendableDesignated Reserves

Reserve For Economic

Uncertainties RestrictedUnappropriated Ending Balance

Total Ending Balance

2006-07 54,334$ 1,278,015$ 1,959,495$ 2,612,249$ 5,904,093$ 2007-08 460,496$ 1,321,751$ 697,862$ 2,233,551$ 4,713,660$ 2008-09 3,769,781$ 1,272,166$ 185,902$ 1,116,116$ 6,343,965$ 2009-10 3,141,608$ 1,165,267$ 147,291$ -$ 4,454,166$ 2010-11 2,142,067$ 1,139,630$ 201,316$ 3,516,662$ 6,999,675$ 2011-12 4,655,616$ 1,175,977$ 284,809$ 1,145,063$ 7,261,465$ 2012-13 2,796,808$ 1,147,152$ 539,781$ 4,393,656$ 8,877,397$ 2013-14 4,887,921$ 1,281,961$ 914,396$ 1,671,131$ 8,755,409$ 2014-15 2,781,202$ 1,414,087$ 637,995$ 1,129,544$ 5,962,827$

Components of Ending Fund Balance Analysis

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Fund Balance Limitation LCFF

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Fund Balance Limitation LCFF

Mandatory 3% Reserve

Additional Allowed 3%

Proposed Limit 6%

Projected Ending Fund

BalanceProjected Overage

1,414,087$ 1,414,087$ 2,828,174$ 5,962,657$ 3,134,484$ 12.65% 6.65%

Government Finance Officers Recommendation 7,856,038$ 2 Months Operating Funds 16.67%

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Gann Limit

32,862,278$ 36,118,233$

Forecasted

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Questions?