PALM SPRINGS UNIFIED SCHOOL DISTRICT BOARD MEETING JUNE 9, 2015 2015-16 ADOPTION BUDGET
Transcript
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PALM SPRINGS UNIFIED SCHOOL DISTRICT BOARD MEETING JUNE 9, 2015
2015-16 ADOPTION BUDGET
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OE COMPLIANCE SUMMARY OE-5 Financial Planning Budget prepared
and presented: 1. In summary format for each District fund 2. Clear
description of revenues and expenditures 3. Includes current year
estimates, budget year and multiyear projections 4. Provides
assumption data 5. Budget developed to assure fiscal soundness in
future years 6. Reflects salary adjustments 7. Contains
conservative assumptions 8. Includes fund balance of no less than
3% of the General Fund 2
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STATE BUDGET NEWS- MAY REVISE The May Revision shows
Proposition 98 funding increasing $6.1 billion over a three-year
period $241 million in 2013-2014 $3.1 billion in 2014-2015 $2.7
billion in 2015-2016 3
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In total, the Governor proposes to provide $6.1 billion to
further implement LCFF, an increase of $2.1 billion since January
Funded COLA of 1.02% (down from the 1.58% estimate in January) A
new proposed gap closure percentage of 53.08% (up from the 32.19%
estimate in January) 4 STATE BUDGET NEWS- MAY REVISE
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LCFF REVENUES PROGRESS TOWARD FULL IMPLEMENTATION
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The gap 100% IS EQUAL TO THE 2007-2008 FUNDING LEVEL
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LCFF REVENUES PROGRESS TOWARD FULL IMPLEMENTATION 100% IS EQUAL
TO THE 2007-2008 FUNDING LEVEL
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LCFF REVENUES PROGRESS TOWARD FULL IMPLEMENTATION 100% IS EQUAL
TO THE 2007-2008 FUNDING LEVEL
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One-Time Discretionary Funds $3.5 billion, or $601 per ADA 9
STATE BUDGET NEWS- MAY REVISE
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Special Education Funding $60 million additional funds, $30
million of which is ongoing to augment the Early Education Program
for Infants and Toddlers with Exceptional Needs $12.1 million in
one time funds for 2,500 additional part-time preschool slots with
priority given to students with disabilities $6 million to increase
overall preschool rates by 1% $10 million in one-time funds to
assist districts in implementing data-driven systems of support and
intervention 10 STATE BUDGET NEWS- MAY REVISE
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Career Technical Education (CTE) An additional $150 million
over the $250 million over three years for a new transitional CTE
Incentive Grant Program $50 million additional in 2016-2017 A
reduction of $50 million in 2017-2018 School Facilities No new
funding over the $273.4 million in Proposition 98 one-time funds
for the Emergency Repair Program A reduction of Proposition 39
appropriation for energy efficiency projects by $6.7 million (to
$313.4 million) Technology $100 million in one-time funding to
increase internet connectivity and infrastructure projects 11 STATE
BUDGET NEWS- MAY REVISE
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Federal Programs No major changes Home-to-School Transportation
No new proposals STRS and PERS Employer costs still predicted to
double over next several years. The May Revision did not address
these costs 12 STATE BUDGET NEWS- MAY REVISE
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PSUSD Adopted Budget is based on assumptions in the May Revise
Adjustments may be required per AB 1200 within 45 days after the
State Budget is signed by the Governor 13 STATE BUDGET NEWS- MAY
REVISE
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ADOPTED BUDGET REVENUE ASSUMPTIONS 2015-2016 Adopted 2016-2017
Projected 2017-2018 Projected Projected LCFF ADA 21,251 ADA
Growth/Decline from prior year 11-- PSUSD LCFF $9,432$9,938$10,441
LCFF COLA 1.02%1.60%2.48% Other State Revenues 1.02%1.60%2.48%
Lottery Revenues- unrestricted $128 Lottery Revenues- restricted
Prop 20 $34 14
2015-16 MULTIYEAR PROJECTION UNRESTRICTED
Description2015-20162016-20172017-2018 Total Revenues $219,583,422
$219,175,508$228,691,849 Total Expenditures 194,278,167 199,179,119
204,300,915 INCREASE (DECREASE) 25,305,255 19,996,389 24,390,934
Other Sources/Transfers In 3,754,773 Other Uses/Transfers Out
4,826,026 1,014,706 Contributions (20,709,250)
(20,979,232)(21,912,609) Net INCREASE (DECREASE) 3,524,752
1,757,224 5,218,392 Beginning Balance, July 1 (estimated)
11,964,201 15,488,962 17,246,186 Ending Balance, June 30 15,488,962
17,246,186 22,464,578 Revolving Cash/Stores 270,000 Unassigned-
Economic Uncertainties (3%) 7,625,850 7,664,357 7,842,878 LCFF
Supplemental and Concentration MPP 3,038,510 6,323,369 10,593,661
Assigned 1,679,006 - 769,579 Textbook Adoptions 2,875,5962,988,460
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2015-16 MULTIYEAR PROJECTION UNRESTRICTED
Description2015-20162016-20172017-2018 Total Revenues $219,583,422
$219,175,508$228,691,849 Total Expenditures 194,278,167 199,179,119
204,300,915 INCREASE (DECREASE) 25,305,255 19,996,389 24,390,934
Other Sources/Transfers In 3,754,773 Other Uses/Transfers Out
4,826,026 1,014,706 Contributions (20,709,250)
(20,979,232)(21,912,609) Net INCREASE (DECREASE) 3,524,752
1,757,224 5,218,392 Beginning Balance, July 1 (estimated)
11,964,201 15,488,962 17,246,186 Ending Balance, June 30 15,488,962
17,246,186 22,464,578 Revolving Cash/Stores 270,000 Unassigned-
Economic Uncertainties (3%) 7,625,850 7,664,357 7,842,878 LCFF
Supplemental and Concentration MPP 3,038,510 6,323,369 10,593,661
Assigned 1,679,006 - 769,579 Textbook Adoptions 2,875,5962,988,460
17 $9,309,800 ($1,493,055) $9,553,837
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2015-16 MULTIYEAR PROJECTION RESTRICTED
Description2015-20162016-20172017-2018 Total Revenues $31,626,931
$31,790,856 $31,912,595 Total Expenditures 55,090,80955,284,736
56,113,657 INCREASE (DECREASE) (23,463,878) (23,493,880)
(24,201,062) Other Sources/Transfers In 2,462,241 2,476,621
2,510,566 Other Uses/Transfers Out --- Contributions 20,709,250
20,979,232 21,912,609 Net INCREASE (DECREASE) (292,387) (38,027)
222,113 Beginning Balance, July 1 (estimated) 774,640 482,253
444,226 Ending Balance, June 30 482,253 444,226 666,339 18
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2015-16 MULTIYEAR PROJECTION RESTRICTED
Description2015-20162016-20172017-2018 Total Revenues $31,626,931
$31,790,856 $31,912,595 Total Expenditures 55,090,80955,284,736
56,113,657 INCREASE (DECREASE) (23,463,878) (23,493,880)
(24,201,062) Other Sources/Transfers In 2,462,241 2,476,621
2,510,566 Other Uses/Transfers Out --- Contributions 20,709,250
20,979,232 21,912,609 Net INCREASE (DECREASE) (292,387) (38,027)
222,113 Beginning Balance, July 1 (estimated) 774,640 482,253
444,226 Ending Balance, June 30 482,253 444,226 666,339 19
($3,196,716) ($20,194,583) $604,471
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2015-16 MULTIYEAR PROJECTION COMBINED
Description2015-20162016-20172017-2018 Total Revenues $251,210,353
$250,966,363 $260,604,444 Total Expenditures 249,368,976
254,463,855 260,414,572 INCREASE (DECREASE) 1,841,377 (3,497,492)
189,872 Other Sources/Transfers In 6,217,014 6,231,394 6,265,339
Other Uses/Transfers Out 4,826,026 1,014,706 Contributions --- Net
INCREASE (DECREASE) 3,232,365 1,719,196 5,440,505 Beginning
Balance, July 1 (estimated) 12,738,851 15,671,216 17,690,412 Ending
Balance, June 30 15,971,215 17,690,412 23,130,917 20
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2015-16 MULTIYEAR PROJECTION COMBINED
Description2015-20162016-20172017-2018 Total Revenues $251,210,353
$250,966,363 $260,604,444 Total Expenditures 249,368,976
254,463,855 260,414,572 INCREASE (DECREASE) 1,841,377 (3,497,492)
189,872 Other Sources/Transfers In 6,217,014 6,231,394 6,265,339
Other Uses/Transfers Out 4,826,026 1,014,706 Contributions --- Net
INCREASE (DECREASE) 3,232,365 1,719,196 5,440,505 Beginning
Balance, July 1 (estimated) 12,738,851 15,671,216 17,690,412 Ending
Balance, June 30 15,971,215 17,690,412 23,130,917 21 198,811,065
209,695,948 ($10,884,883) ($4,689,871) $10,158,309
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UNRESTRICTED ENDING FUND BALANCES 22 Thousands Estimated
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UNRESTRICTED SALARIES AND BENEFITS AS A PERCENT OF THE
UNRESTRICTED BUDGET YearCertificatedClassifiedBenefitsTotal
Expenditures % 2015-2016 (Est.)
$90,645,867$24,924,396$42,259,762$194,278,16781.24% 2014-2015
(Est.) $83,603,559$22,768,302$37,931,034$173,505,96983.17%
2013-2014$73,586,568$19,262,330$33,573,808$145,708,50586.76%
2012-2013$66,985,938$16,805,035$31,759,760$125,647,02591.96%
2011-2012$65,250,758$16,460,806$30,073,383$123,547,50590.50% 23
YearADA 2015-201621,251 2014-201521,240 2013-201421,318
2012-201321,469 2011-201221,515 Unrestricted salaries and benefits
make up approximately 81% of PSUSDs unrestricted general fund
budget. Cielo Vista Charter School is reported separately beginning
fiscal year 2010-2011
OTHER FUNDS Description2015-2016 Budgeted Revenues 2015-2016
Budgeted Expenditures 2015-2016 Increase (Decrease) Beginning
Balance Ending Balance Charter School Fund 09 6,403,652 7,351,063
(947,411) 2,057,483 1,110,072 Child Development Fund 12 2,250,971
2,250,921 50 26,651 26,701 Cafeteria Special Revenue Fund 13
12,859,800 14,935,074 (2,075,274) 5,662,307 3,587,033 Special
Reserve Fund 17 3,842,693 - 4,878,666 8,721,359 Building Fund 21
90,000 35,363,482 (35,273,482) 62,990,090 27,716,608 Capital
Facilities Fund 25 2,565,000 7,920,279 (5,355,279) 20,474,223
15,118,944 Special Reserve Fund 40 8,586,436 19,303,258
(10,716,822) 37,972,185 27,255,363 26
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SELF INSURANCE FUNDS Description2015-2016 Budgeted Revenues
2015-2016 Budgeted Expenditures 2015-2016 Increase (Decrease)
Beginning Balance Ending Balance Workers Compensation Fund 67
5,639,428 2,882,595 2,756,833 2,352,715 5,109,548 Other Post
Employment Benefits (OPEB) Fund 68 2,117,382 1,572,670 544,712
7,587,580 8,132,292 Property and Liability Fund 69 983,928
1,045,030 (61,102) 61,102 - Total 8,740,738 5,500,295 3,240,443
10,001,397 13,241,840 27
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Starting with the 2015-2016 adopted budgets, school districts
are required to provide the following information at the public
hearing for the next fiscal years budget adoption: 1.The minimum
reserve level required in each year 2.The amount of assigned and
unassigned ending fund balance that exceeds the minimum in each
year 3.Reasons for the reserve being greater than the minimum 28
SB858- ASSIGNED AND UNASSIGNED ENDING FUND BALANCES
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29 SB858- ASSIGNED AND UNASSIGNED ENDING FUND BALANCES
2015-20162016-20172017-2018 1.Minimum reserve level in each year
$7,625,850$7,664,357$7,842,878 2. The amount of assigned and
unassigned ending fund balance that exceeds the minimum in each
year $16,314,471$18,064,561$23,135,805 3. Reasons for the reserve
being greater than the minimum Assigned for LCAP (supplemental
student services)- $3,038,510 $6,323,369 $10,593,661 Assigned for
Textbook Adoptions- $2,875,596 $2,988,460 Designated for increments
in CalPERS, CalSTRS, legal services, and equipment replacement-
$1,679,006 - $769,579 Designated for opening new schools (Fund 17)-
$8,721,359$8,752,732$8,784,105
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30 SUMMARY Financial Position is sufficient to meet obligations
in 2015-16 and following two fiscal years, justifying a Positive
Certification (June 23, 2015) Structural Deficit eliminated
Supplemental and Concentration Grant funding is providing
additional funding for the Districts students in need