2014-15 unaudited actuals departments/business... · 2015. 10. 14. · 2014-15 unaudited actuals...

2014-15 UNAUDITED ACTUALS

Information on September 1st, 2015 Presented on September 29th, 2015

Calaveras Unified School District 3304 Highway 12

San Andreas, CA 95249

Board of Trustees:

Sherri Reusche Board President

Zerrall Mc Daniel Clerk

Karan Bowsher Member

Gregory Gustafson Member

Kelly Smith Member

Prepared By:

Kassandra Booth Director of Fiscal Services

TABLE OF CONTENTS NARRATIVE SUMMARY .............................................................................................................................. 1

GENERAL FUND FINANCIAL COMPARISON ......................................................................... 2‐8

FINANCIAL SUMMARY OF ALL DISTRICT FUNDS ............................................................... 9‐10

FINANCIAL ACTIVITY REPORT (ALL FUNDS) .......................................................................... 11

STATE FORMS GENERAL FUND ................................................................................................................ 12‐25

OTHER FUNDS .................................................................................................................. 26‐89

AVERAGE DAILY ATTENDANCE SUMMARY ........................................................................... 90

MINIMUM CLASSROOM COMPARISON ............................................................................... 91

LOTTERY REPORT .................................................................................................................. 92

NO CHILD LEFT BEHIND MOE .......................................................................................... 93‐95

SCHEDULE OF CAPITAL ASSETS ............................................................................................. 96

SCHEDULE OF LONG TERM LIABILITIES ................................................................................ 97

INDIRECT COST RATE WORKSHEET ................................................................................ 98‐101

APPOROPRIATIONS LIMIT CALCULATIONS .................................................................. 101‐104

DETERMINATION OF MAJOR FUNDS .................................................................................. 105

PROGRAM COST REPORT ............................................................................................ 106‐111

SPECIAL EDUCATION MOE ........................................................................................... 112‐126

STATE SOFTWARE TECHNICAL REVIEW .............................................................................. 127

Calaveras Unified School District 2014/15 Unaudited Actuals Released: September 1st, 2015

Presented: September 29th, 2015

Summary

The 2014/15 unaudited actuals reflect Calaveras Unified School District’s financial activity that occurred during the year, as well as the District’s financial position as of June 30, 2015. In addition, the unaudited actuals report contain supplemental information concerning the District’s activity in detail. Education Code requires districts to close their books and adopt the report of financial activities and position by September 15th of each year for the preceding fiscal year. This information is then submitted to the Calaveras County Office of Education, and the California Department of Education for review.

The report illustrates that CUSD’s General Fund had revenues less than expenditures in the amount of $1.1 million as compared to an original projected deficit of $2.2 million, as of Third Interim Budget. As a result, the District’s unaudited ending general fund balance is $3.6 million consisting of a revolving cash reserve of $20,000, a restricted balance of $589,065, an assigned reserve in the amount of $403,711, and a reserve for economic uncertainties of $804,000. This leaves an ending unappropriated general fund balance of $1.9 million (6.96%). The specific programs that have been restricted and assigned are further described in this report. Furthermore, all other funds have a positive ending balance at June 30, 2015.

Financial Highlights

As of the California Basic Educational Data System (CBEDS) reporting date, October 2014, Calaveras Unified had 3,079 studentsthat attended school, which was a decrease of 59 (-1.92%) students from the prior year. The district ended the year with an enrollmentof 3,026 students, which is a loss of 53 (-1.72%) students from October.

The average daily attendance (ADA), which much of the District’s revenue is based, was 2,923. Due to declining enrollment, CUSDreceived funding based on an ADA count of 2,982, prior year P-2, plus annual attendance for students in COE operated programs.

The ratio of attendance to CBEDS enrollment was 94.9%.

During the fiscal year, the Calaveras USD earned $8,319 in revenue per student vs. $7,933 per student in 2013/14.

During the fiscal year, the Calaveras USD expended $8,700 per student vs. $8,635 per student in 2013/14.

As a result of the improving housing market, the District collected $14.8 million in property taxes, which was 10% higher than wascollected in 2013/14. Due to the State’s Local Control Funding Formula (LCFF), the increase in property taxes does not affect theCUSD’s revenue; it does however, affect the District’s cash resources since property taxes primarily are collected only twice a year(December and April).

The District’s general fund ending cash balance was $3.8 million.

During 2014/15, the District received $30,476 of unrestricted Federal Forest Reserve Funds, not previously budgeted, due to theFederal Government not releasing the funds to districts until June.

The District used $300,000 of collected Developer Fees to pay its Certificates of Participation payments of $510,769, with the balancebeing paid out of the general fund.

Purpose

This financial report is designed to provide the Board of Trustees, community members, and employees, with a general overview of the Calaveras Unified School District’s finances and illustrate the District’s accountability, in detail, for the money it received and expended. Included in this packet is a summary of the District’s Financial Comparison and Analysis including details on the District’s fund balance components, which is followed by the required State reports in its entirety. The narrative portion of this report compares 2014/15 Third Interim Budget to Unaudited Actuals, while the State report compares 2014/15 Unaudited Actuals to our 2015/16 Adopted Budget. During the fall of 2015, the CUSD’s external auditors will audit the records contained in this packet, and will render an opinion no later than December 15, 2015.

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2014/15 General Fund Financial Comparison and Analysis

A. General Fund Revenues

1. General Purpose revenue received in 2014/15 totaled $22,749,681. CUSD received $64,353 (0.3%) more than projected atthe Third Interim Budget. The increase was primarily due to the State’s 2015/16 Budget, which increased the gap fundingrate under the Local Control Formula (LCFF) from 29.97% to 30.16% for 2014/15.

The District’s general purpose revenue is calculated through LCFF and encompasses Property Taxes of $14,877,644,Education Protection Account (EPA) of $ 1,487,533, and State Aid of $6,384,504. Property Taxes made up 65.4% of theDistrict’s general purpose revenue. This means that we only received about 65% of $23 million twice this year.

2. Federal Revenue of $634,474 was received in 2014/15, which was $482,850 (-43.2%) less than projected at the ThirdInterim Budget. The primary reason for the decrease in federally restricted revenue is due to the Title I program. A districtwill only receive the revenue once it has been expended. Since CUSD did not spend its entire allocation during 2014/15, thebudget will be carried over into 2015/16.

Calaveras Unified received $30,472 in Federal Forest Reserve funds (unrestricted), $341,391 in Title I Basic Grants forLow-Income and Neglected, $129,312 in Title II Part A Teacher Quality, $57,637 in Title VI Part B one-time grant, $38,144in Medi-Cal Billing, $36,704 in Perkins Career Technical Education grant, and $814 in AP Test Fee Reimbursement.

3. Other State Revenue of $839,361 was received in 2014/15, which was $10,349 (1.2%) higher than the Third Interim Budgetof $829,012. CUSD received $311,923 in Mandated Cost Reimbursement, $400,650 in unrestricted Lottery, $115,614 inrestricted Lottery, $10,839 in an Agricultural Education Incentive grant and $335 in prior year assessment apportionment.

4. Other Local Income of $1,391,751 was received in 2014/15, which was $33,106 (-2.3%) lower than the Third InterimBudget of $1,424,857. Calaveras Unified received $692,956 from the County Office of Education for the District’s RegionalOccupational Program (ROP), $151,684 in reimbursement for students with special needs, $127,263 in transportation feesand $163,641 in the District’s apportionment transfer for Special Education. CUSD also received $55,545 for prior yearMAA billing reimbursement, $13,795 in facility usage fees, $32,822 in site donations, $47,599 in fees from adults in thecosmetology program, and $106,446 was received in various other local revenue (interest, fees, etc.).

Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined

A. REVENUES

General Purpose 22,685,328 ‐ 22,685,328 22,749,681 ‐ 22,749,681 64,353 ‐ 64,353 0.3%

Federal Revenue 814 1,116,511 1,117,325 31,286 603,188 634,474 30,472 (513,323) (482,850) -43.2%

State Revenue 712,064 116,948 829,012 712,908 126,453 839,361 844 9,505 10,349 1.2%

Local Revenue 1,011,326 413,531 1,424,857 1,149,726 242,024 1,391,751 138,400 (171,506) (33,106) -2.3%

Total Revenues 24,409,532 1,646,989 26,056,521 24,643,601 971,666 25,615,267 234,069 (675,324) (441,255) -1.7%

Variance between 3rd & UnauditedThird Interim Budget Unaudited Actuals

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Total Revenue of $25,615,267 was received during 2014/15, which was $722,594 (2.9%) more than Calaveras Unified received in 2013/14. We received the majority of our operating funds from property taxes and state aid through the Local Control Funding Formula (LCFF). Under this new formula, school districts are responsible for the entire needs of a student’s education: from the staff, to the buses, to facilities. It is the responsibility of a district to work closely with their staff, community members, and students to determine the best manner to expend LCFF funds. This occurs through the Local Control Accountability Plan (LCAP).

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B. General Fund Expenditures

1. Certificated Salaries of $12,347,532 were expended in 2014/15. Unaudited actuals were $78,766 (0.6%) higher than projected at Third Interim Budget of $12,268,766. This amount reflects the 3% on the salary schedule increase and 2% one-time bonus for CUEA members. No increase or bonus was given to certificated administrators. Total expenditures include all step, column, hourly, stipends, and substitute costs.

Certificated salaries category includes teacher salaries of $10,548,868, pupil support salaries of $303,195, certificated administrator salaries of $1,408,055, and other certificated salaries of $87,414.

2. Classified Salaries of $4,660,869 were expended in 2014/15. Unaudited actuals were $12,747 (0.3%) above the projected

Third Interim Budget of $4,648,121. This amount reflects the 4% one-time off salary schedule bonus for CSEA members. No bonus was given to classified administrators, supervisors, nor confidential employees. Total expenditures include all step, column, hourly, stipends, and substitute costs.

Classified salaries include instructional salaries of $989,848, support salaries of $1,965,259, supervisors and administrators’ salaries of $392,748, clerical, technical, and office salaries of $1,203,393, and other classified salaries of $109,621.

3. Employee Benefits of $5,671,167 were expended in 2014/15. This was $348,369 (-5.8%) less than the Third Interim Budget

of $6,019,536. This was due to the District receiving $73,403 from a prior year worker’s compensation over payment, $50,651 retirement annuity set aside, and $112,923 in savings from employees who choose to not take health and welfare, but are eligible per the CSEA agreement. The total amount expended in 2014/15 includes all required statutory benefits as well as health, dental, vision, and life. During 2014/15, CUEA members’ medical cap increased by $100/month, and CSEA members dental and vision cap increased by $4/month. No increase occurred for certificated or classified administrators, supervisors, nor for confidential employees.

Category Percent Actual Amount STRS 8.88% $ 1,027,705 PERS 11.771% $ 568,240 Social Security & Medicare 6.2% & 1.45% $ 524,275 Unemployment 0.05% $ 8,504 Workers Compensation 1.933% $ 257,215 Retiree Health & Welfare 5.00% $ 780,560 Income Protection 0.34% $ 110,169 PARS $ 161,040 Health & Welfare $2,233,459

4. Books and Supplies of $1,256,504 was expended in 2014/15. This was $660,598 (-34.5%) less than the Third Interim

Budget of $1,917,101. The majority of the unexpended budget was directly related to our school sites allocated budgets, $456,350, which will be carried over into 2015/16. The balance of the unexpended budget, $204,248, was due to fuel savings in transportation ($39,305), maintenance and operations ($27,100), and special education ($21,246). The District also maintains nominal balances in unrestricted Lottery, restricted Lottery, and other various programs to prevent volatility from one year to the next in site allocations due to State Budget fluctuations.

For 2014/15, CUSD expended $35,441 in textbooks and core curricula materials, $50,872 in books and other reference materials, $1,064,257 in materials and supplies, and $105,934 in equipment.


B. EXPENDITURES

Certificated Salaries 10,694,255 1,574,511 12,268,766 10,754,266 1,593,266 12,347,532 60,011 18,755 78,766 0.6%

Classified Salaries 3,308,309 1,339,813 4,648,121 3,353,388 1,307,480 4,660,869 45,080 (32,332) 12,747 0.3%

Benefits 4,959,654 1,059,882 6,019,536 4,670,294 1,000,873 5,671,167 (289,361) (59,009) (348,369) -5.8%

Books and Supplies 988,171 928,930 1,917,101 716,650 539,854 1,256,504 (271,521) (389,076) (660,598) -34.5%

Other Services & Oper. 1,871,247 1,146,737 3,017,984 1,657,227 674,377 2,331,605 (214,020) (472,359) (686,379) -22.7%

Capital Outlay 38,206 8,436 46,642 37,773 ‐ 37,773 (433) (8,436) (8,869) -19.0%

Other Outgo 442,632 10,000 452,632 460,228 4,473 464,701 17,596 (5,527) 12,068 2.7%

Transfer of Indirect (123,302) 55,055 (68,247) (101,005) 33,156 (67,849) 22,296 (21,898) 398 -0.6%

Total Expenditures 22,179,173 6,123,363 28,302,536 21,548,821 5,153,480 26,702,301 (630,352) (969,884) (1,600,235) -5.7%


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5. Other Services and Operating Expenses of $2,331,605 was expended in 2014/15. This was $686,379 (-22.7%) less than the Third Interim Budget of $3,017,984. The unexpended budget in other services and operating expenditures is due to transportation ($43,358), maintenance and operations ($44,281), utility savings ($89,562), special education ($224,235), and nursing services ($19,567). The balance is primarily due to the federal government requiring districts to set aside a portion of Title I funds for transportation and tutoring services. The Title I and nursing service balances will be carried over into 2015/16.

For 2014/15, the District expended $1,083,805 on contracted services, $109,832 in travel and conferences, $10,069 on dues and memberships, $191,141 on insurance, $632,132 on operations and housekeeping services (which includes utilities), $234,971 on rentals, leases, repairs and non-capitalized improvements, and $69,655 on communications.

6. Capital Outlay expenditures of $37,773 was expended in 2014/15. This was $8,869 (-19%) less than the Third Interim

Budget of $46,642. Calaveras Unified purchased a water clarifier for the transportation department in order to comply with Environmental Protection Agency regulations and is anticipated to save CUSD about $5,000 per year in pumping out waste water.

7. Other Outgo of $464,701 was expended in 2014/15. This was $12,068 (2.7%) more than the Third Interim Budget of

$452,632 primarily due to payments to the county office of education for educational services provided to our students.

For 2014/15, CUSD expended $4,473 on state special schools tuition, $213,667 to county office of education, $246,489 in principal and interest payments on our Certificates of Participation, and $72 on other transfers of apportionments.

8. Direct Support/Indirect Costs of $-67,849 is the credit for indirect charges assessed to the cafeteria and child development

funds. Indirect costs cover services such as utilities, general maintenance, accounting, purchasing, payroll, personnel, and other support functions which are absorbed by the unrestricted general fund and then “paid back” as a credit to the general fund and shown as an expense to the restricted programs. CUSD’s 2014/15 California Department of Education approved indirect cost rate for categorical programs was 4.34%.

C. Other Financing Sources/ Uses

1. Transfers Out of $85,732 are monies transferred out of the general fund to other special district funds for designated purposes. This amount was $35,053 (-29%) less than the Third Interim Budget of $120,786. The primary reason for the decrease was additional revenue received from prior year in the Child Development Fund, which helped offset the amount of transfer needed to support the preschool program.

2. Contributions to restricted programs net to zero in the general fund and are listed above.

Description Third Interim Unaudited Actuals

Agricultural Vocational Ed* $6,891 $6,611

BTSA / Induction $36,830 $37,261

Restricted Maintenance $657,216 $670,716

Special Education $3,231,616 $3,245,731

Total Contributions $3,932,553 $3,960,319

Less: Contribution from ROP (1x) ($1,114,160) ($1,114,160)

Net Contributions $2,818,394 $2,846,159

Transfer Out to Child Dev. $93,986 $58,932

Transfer Out to Deferred Maint. $26,800 $26,800

Total Transfers Out $120,786 $85,732

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The general fund is used to account for the primary educational expenditures within a District. Total expenditures for Calaveras Unified was $26,702,301, which was $308,426 (-1.1%) less than 2013/14. As illustrated below, salaries and related benefits comprise 84.7% of total general fund expenditures. Note that the above percentage does not reflect any expenditures associated with contracted services (e.g. non-public schools, services for speech and language, occupational therapy, etc.), which are reflected in other services and operating expenditures. If we include the amount for contracted services, our total expenditures on ‘personnel’ would equate to 89% of Calaveras USD’s expenses.

Education Protection Account (EPA) The State’s Education Protection Account (EPA) was approved by voters in 2012 to temporarily increase the State’s sales tax rate and the personal income tax rate. As required by law, school districts must report revenue and expenditures and it will be a part of the district annual financial audit. Illustrated below is how CUSD expended its EPA funds during 2014/15.

Calaveras USDEPA REVENUE: EPA Funds 1,487,533

EPA EXPENDITURES: Certificated Instructional Salaries 1,057,612 Certificated Instructional Benefits 320,343 Certificated Pupil Services Salaries 85,599 Certificated Pupil Services Benefits 23,978 TOTAL 1,487,533

Education Protection Account (EPA)

Fiscal Year Ending June 30, 20152014/15 Unaudited Actuals

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D. Fund Balance

1. Beginning Balance for each budget year includes the reserve and any other unexpended funds brought forward as the preceding year’s ending balance. The 2014/15 audited beginning balance was $4,856,432.

2. Ending Balance is a calculation of the net increase or decrease to fund balance through operations, plus any adjustments to the net beginning balance. The net decrease to fund balance as a result of operations was $-1,172,766, resulting in an unaudited ending balance for 2014/15 of $3,683,666.

Governmental Accounting Standards Board (GASB 54) has defined five categories for reporting ending fund balance. The statement also requires that governmental agencies adopt a fund balance policy that establishes a minimum level at which the fund balance is maintained. The District’s current board policy (BP 3100) states “To protect the District against unforeseen circumstances such as revenue shortfalls and unanticipated expenditures, the Board intends to maintain a minimum unassigned fund balance which includes a reserve for economic uncertainties equal to at least two months of general fund operating expenditures, or 10 percent of general fund expenditures and other financing uses.”

a. Nonspendable reserve reflects amounts that are not in spendable form, or amounts that are required to remain

intact. For 2014/15, this amount is $20,000 in the District’s revolving cash account. b. Restricted fund balance is made up of funds from revenue sources subject to constraints imposed by external

resource providers or legislation. Below is a summary of the CUSD’s restricted fund balance.

c. Committed fund balance category reflects amounts subject to internal constraints self-imposed by formal action

of the Board of Trustees. Once committed, amounts must be used for their intended purpose. Additional formal action is required by the board to remove the constraint. The District currently has no general fund committed balance.


Total Revenues 24,409,532 1,646,989 26,056,521 24,643,601 971,666 25,615,267 234,069 (675,324) (441,255) -1.7%

Total Expenditures 22,179,173 6,123,363 28,302,536 21,548,821 5,153,480 26,702,301 (630,352) (969,884) (1,600,235) -5.7%

Total Financing Sources (2,939,179) 2,818,394 (120,786) (2,931,891) 2,846,159 (85,732) 7,288 27,766 35,053 -29.0%

Net Surplus / (Deficit) (708,820) (1,657,981) (2,366,800) 162,889 (1,335,655) (1,172,766) 871,708 322,326 1,194,034

FUND BALANCE, RESERVES

Beginning Balance 2,931,712 1,924,720 4,856,432 2,931,712 1,924,720 4,856,432 ‐ ‐ ‐

Ending Balance 2,222,893 266,739 2,489,632 3,094,601 589,065 3,683,666 871,708 322,326 1,194,034

Nonspendable 20,000 ‐ 20,000 20,000 ‐ 20,000 ‐ ‐ ‐

Restricted ‐ 266,739 266,739 ‐ 589,065 589,065 ‐ 322,326 322,326

Assigned 392,333 ‐ 392,333 403,711 ‐ 403,711 11,378 ‐ 11,378

Unassigned ‐ REU 853,000 ‐ 853,000 804,000 ‐ 804,000 (49,000) ‐ (49,000)

Unassigned ‐ Other 957,560 ‐ 957,560 1,866,890 ‐ 1,866,890 909,330 ‐ 909,330

Total ‐ Fund Balance 2,222,893 266,739 2,489,632 3,094,601 589,065 3,683,666 871,708 322,326 1,194,034


Program Unaudited ActualsMedi-Cal Billing Option 77,221 Lottery - Instructional Materials 183,363 Routine Restricted Maintenance 46,673 ROP/C 225,000 Community Learning Donations 749 MHE Donations 5,308 JLE Donations 7,817 RRF Donations 2,788 SAE Donations 6,543 VSE Donations 4,335 TMS Donations 18,267 CHS Donations 2,399 WPE Donations 8,072 GSHS Donations 530 Total Restricted $589,065

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d. Assigned fund balance is made of funds whose uses are not subject to external or legal constraints and may be used for any purposes not prohibited by law. However, Calaveras Unified has determined it is important to assign part of its fund balance to these programs due to the nature of the revenue received. Below is a summary of the District’s assigned fund balance.

e. Unassigned / Reserve for Economic Uncertainty category in the general fund represents the residual balance that is not nonspendable, restricted, committed, or assigned to a specific purpose. It includes the District’s reserve for economic uncertainty, $804,000, at 3% of general fund expenditures, transfers out, and other uses. The remaining unassigned fund balance of $1,866,890, represents 6.97% of the District’s expenditures. The District’s unassigned fund balance assists the District in ‘riding out’ difficult financial times, as well as paying for items not currently budgeted. Such items could include HVAC units that breakdown unexpectedly and need to be replaced.

CSEA Agreement Over the course of the 2014-15 school year, CUSD administration and the CSEA negotiation team have worked diligently and respectfully to address the financial compensation of our classified staff in a fiscally prudent manner. At the May 19th, 2015 Board meeting, the District’s Board of Trustees agreed to a 4% one-time payment for employees, an additional $4 per month on the dental and vision cap, longevity steps for Paraprofessionals, and the elimination of Range A and Step 1. All of this was paid out to our CSEA employees retroactively in June 2015. Additionally, as part of the agreement, CUSD will increase the CSEA 2014-15 salary schedules by 3%, and add $200 per month to the medical cap for our classified employees. Due to the financial conditions of the district, CSEA bargaining members agreed to postpone payment until the District can reflect fiscal solvency for the current year and two additional years after reflecting the increase to the salary schedule and medical cap in the multi-year projections. The District has estimated the costs of the 3% increase on the salary schedule and $200 per month medical cap for its classified employees for the 2014-15 fiscal year to equal $450,358 as a one-time payment. With the completion of the 2014-15 unaudited actuals, administration feels that we will be able to pay this one-time payment using the unassigned fund balance. Our recommendation would be to pay it out in January 2016, to limit the tax burden on CSEA employees during the 2015 tax year due to the one-time payment they received in June 2015. The District will continue to monitor both the District and the State’s financial conditions as changes occur over the course of the year and into the future to estimate when the district will be able to afford the 3% increase on the salary schedule and $200 per month medical cap increase in its multiyear projections. We will update staff, community, and the Board of Trustees at First Interim, knowing the agreement with CSEA is a priority for the District.

Program Unaudited ActualsCeramics Adult Fees 275 Facilities Usage 9,113 Cosmetology 41,621 Lottery - Unrestricted 179,402 Performing Arts Center 173,300 Total Assigned $403,711

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Financial Summary of District Funds

As Calaveras Unified completed the year, the total combined unaudited ending fund balance is $9 million in 2014/15, which is illustrated above. Approximately 55% ($5 million) of the District’s unaudited ending fund balance is restricted for facility expenditures.

A. Special Revenue Funds (12-14):

1. Child Development - Fund 12 is required by the California Department of Education to account for the operations of specific child development programs; preschool and after school programs. For 2014/15, the District received $215,505 in revenue from the State for the District’s preschool programs and collected $74,336 in revenue from fees. The total expenditures for the preschool program was $395,995. The District received $145,466 in pass-through grants for CUSD’s After School Program and collected $196,159 in revenue from parents and donations. The total expenditures for the District’s after school program for 2014/15 was $335,667. The unaudited ending fund balance in fund 12 will be carried over into 2015/16 to support the District’s after school program.

2. Cafeteria - Fund 13 is required by the California Department of Education to account for all revenues and expenditures

related to the operations of the District’s comprehensive food service program. Calaveras Unified participates in the National School Lunch and Breakfast Programs, which assists in funding meals for students who qualify. In 2014/15, the District received $820,841 in revenue from the Federal government, $70,625 from the State, and collected $226,563 from fees. The total expenditures for the meals was $1,242,609. The unaudited ending fund balance in fund 13 will be carried over into 2015/16 to support the District’s food service program.

3. Deferred Maintenance - Fund 14 is used to assist districts in maintaining facilities and sites. The District transferred

$26,800 from its general fund in 2014/15 and expended $35,978 in necessary deferred maintenance around the District. The unaudited ending fund balance in fund 14 will be carried over into 2015/16 to support the District’s many deferred maintenance needs.

B. Capital Projects Funds (21 -40)

1. Building - Fund 21 is used to account separately for proceeds from the sale of bonds and may not be used for any purpose

other than those for which the bonds were issued. In 2014/15, the District transferred the remaining balance in its County School Facilities funds to this fund to pay the construction costs for the Calaveras Performing Arts Center, which is expected to be completed by the end of November 2015.

2. Capital Facilities - Fund 25 is used to account for revenues received from Developer (School Impact) Fees and expenditures related to the impact development has on a school districts. For 2014/15, CUSD collected $345,751 in developer fees from the local community. The District used $300,000 towards payment of principal on its Certificates of Participation (COP). The unaudited ending fund balance in fund 25 will go towards the District’s 2015/16 COP payments.

3. County School Facilities - Fund 35 is used to account for apportionments received through the State School Facilities Fund. In 2014/15, the District transferred the balance in this fund to its building fund for the Calaveras Performing Arts Center.

2014‐15

Beginning

Fund Balance Revenue Expenditures

Net

Surplus /

(Deficit)

Unaudited

Ending Fund

Balance

01 General Fund (Unrestricted and Restricted) 4,856,432 25,615,266 26,788,032 (1,172,765) 3,683,667

12 Child Development 37,761 739,595 733,071 6,523 44,284

13 Cafeteria 422,506 1,118,029 1,242,609 (124,580) 297,926

14 Deferred Maintenance 19,758 26,835 35,978 (9,143) 10,615

21 Building Fund 3,050,324 837,780 1,955,442 (1,117,662) 1,932,662

25 Capital Facilities 50,000 346,577 300,000 46,577 96,577

35 County School Facilities 825,574 323 825,825 (825,502) 72

40 Special Reserve Fund Capital Projects 130,021 566 3,724 (3,158) 126,863

51 Bond Interest & Redemption 2,146,020 2,467,884 2,248,452 219,432 2,365,452

52 Blended Component Debt Service 469,581 ‐ ‐ ‐ 469,581

All Funds Total $12,007,977 $31,152,855 $34,133,133 ($2,980,277) $9,027,700

Fund

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4. Special Reserve Fund for Capital Projects - Fund 40 is used to account for the Prop 39 one-time grant from the State of

California for Clean Energy Jobs. In 2014/15, the Board of Trustees approved a contract with a local company to audit the Districts energy usage, and assist in maximizing the use of these funds. The District has only received its first allocation from the State as of June 30, 2015.

C. Debt Service Funds (51-52)

1. Bond Interest & Redemption - Fund 51 is used for the repayment of bonds issued by the District along with the associated

bond interest payments. This fund is administered, controlled, and operated by Calaveras County Treasurer’s Office.

2. Blended Components Debt Service - Fund 52 is used to account for the accumulation of resources for the payment of general long-term debt principal and interest.

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Bond BlendedCafeteria County Interest Component

Child Special Deferred Capital School Capital & DebtGeneral Development Revenue Maintenance Building Facilities Facilities Projects Redemption Service

Fund (01) Fund (12) Fund (13) Fund (14) Fund (21) Fund (25) Fund (35) Fund (40) Fund (51) Fund (52) Total

REVENUES

General Purpose (LCFF) Revenues: State Aid & EPA 7,844,993 - - - - - - - - - 7,844,993 Property Taxes & Misc. Local 14,904,688 - - - - - - - - - 14,904,688 Total General Purpose 22,749,681 - - - - - - - - - 22,749,681

Federal Revenues 634,474 25,460 820,841 - - - - - - - 1,480,775 Other State Revenues 839,361 215,505 70,625 - - - - - - - 1,125,490 Other Local Revenues 1,391,751 439,698 226,563 35 11,955 346,577 323 566 2,467,884 - 4,885,352

TOTAL - REVENUES 25,615,267 680,662 1,118,029 35 11,955 346,577 323 566 2,467,884 - 30,241,298

EXPENDITURES

Certificated Salaries 12,347,532 - - - - - - - - - 12,347,532 Classified Salaries 4,660,869 456,585 522,537 - - - - - - - 5,639,991 Employee Benefits (All) 5,671,167 200,860 228,194 - - - - - - - 6,100,220 Books & Supplies 1,256,504 31,201 404,652 694 - - - - - - 1,693,050 Other Operating Expenses (Services) 2,331,605 27,992 29,281 35,284 - - - 3,724 - - 2,427,884 Capital Outlay 37,773 - 6,531 - 1,955,442 - - - - - 1,999,746 Other Outgo 464,701 - - - - 300,000 - - 2,248,452 - 3,013,153 Direct Support/Indirect Costs (67,849) 16,435 51,414 - - - - - - - -

TOTAL - EXPENDITURES 26,702,301 733,071 1,242,609 35,978 1,955,442 300,000 - 3,724 2,248,452 - 33,221,577

EXCESS (DEFICIENCY) (1,087,034) (52,409) (124,580) (35,943) (1,943,487) 46,577 323 (3,158) 219,432 - (2,980,279)

OTHER SOURCES/USES

Transfers In - 58,932 - 26,800 825,825 - - - - - 911,557 Transfers (Out) (85,732) - - - - - (825,825) - - - (911,557) Net Other Sources (Uses) - - - - - - - - - - - Contributions to Restricted Programs - - - - - - - - - - -

TOTAL - OTHER SOURCES/USES (85,732) 58,932 - 26,800 825,825 - (825,825) - - - 0

(1,172,766) 6,523 (124,580) (9,143) (1,117,662) 46,577 (825,502) (3,158) 219,432 - (2,980,279)

FUND BALANCE

Beginning Fund Balance 4,856,432 37,761 422,506 19,758 3,050,324 50,000 825,574 130,021 2,146,020 469,581 12,007,977

Ending Balance, June 30 3,683,666 44,284 297,926 10,615 1,932,662 96,577 73 126,863 2,365,452 469,581 9,027,698

FUND BALANCE INCREASE (DECREASE)

Description

CALAVERAS UNIFIED SCHOOL DISTRICT2014-15 Unaudited Actuals

Financial Activity: All Funds

11

2014-15 unaudited actuals departments/business... · 2015. 10. 14. · 2014-15 unaudited actuals...

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