BUDGET INFORMATION
Annual Budget Meeting Presentation 06/17/13 (.pdf)
May Revise Presentation 12-13 (.pdf)
Balanced Budget Plan (.pdf)
Enrollment Projection Methodology (.pdf)
Second Interim Board Presentation (.pdf)
2011-2012 UnAudited Actuals (Sections 1-3.pdf) (Sections 4-6.pdf)
2012-2013 Adopted Budget Executive Summary (.pdf)
2012-2013 Adopted Budget Complete
(Sections 1-2.pdf) (Sections 3-4.pdf) (Section 5.pdf)
Fiscal Stabilization Plan 12-15 -Board Apvd. (.pdf)
Annual Budget Presentation 12-13 (.pdf)
Budget Facts for Our School District
Budget Advisory Committee (BAC)
• BUDGET SURVEY VOTING RESULTS (.pdf)
• BUDGET SURVEY FORM (.pdf)
Meeting Presentations
Meeting Minutes
- Minutes of October 18, 2012 (.pdf)
- Minutes of September 20, 2012 (.pdf)
- Minutes of February 21, 2012 (.pdf)
- Minutes of February 8, 2012 (.pdf)
- Minutes of February 2, 2012 (.pdf)
- Minutes of January 26, 2012 (.pdf)
- Minutes of January 12, 2012 (.pdf)
Small Group Suggested Cuts
- Suggested Cuts, First List (.pdf)
Budget Survey with Directions (.pdf)
Budget FAQS
Q: What do all of these financial terms mean?
A: California school district revenues and expenditures are subject to constant change. School district budgets are not static documents, but instead are constantly being revised to respond to decisions at the state and federal level, as well as to the expenditure needs of the District. With each report the District is asked to project the general fund financial status through year-end, June 30.
Below are the most commonly used terms:
- Adopted Budget – Represents the budget plan for the next fiscal year. This plan is approved by the Districts Board in June before the start of the new year. The adopted budget is an “estimate” of what the District anticipates to receive and what it anticipates it will spend in the next year.
- Unaudited Actuals – The final figures after all of the books have been closed for the prior fiscal year; this reflects what the district actually received and what it actually spent.
- First Interim – Budgets are not static and constantly changing, the First Interim revises the budget as of October 31. The District measures it against the budget that was adopted in June and incorporates any new state budget assumptions for the remainder of the year.
- Second Interim – Is from Nov 1 to Jan 31 and is a snapshot of the current budget to see what has happened since First Interim. The District measures it against the budget that was revised in October and incorporates any new state budget assumptions for the remainder of the year.
Q: What is a Multi Year Projection (MYP)?
A: A MYP projects what the District will spend and how much money it will receive in the next two fiscal years. MYP’s are based on current spending and revenue estimates. The State requires all districts to complete MYP to determine if the District will be financially solvent for the next two subsequent years.
Q: What is Revenue?
A: Money coming in! Revenues represent the amount of money that the District entitled to receive from various.
Q: What is the Revenue Limit?
A: Revenue Limit funding is the primary source of unrestricted revenue in every school Districts budget. There are a number of data elements used in the revenue limit calculation as well as adjustments (such as the deficit factor). In its simplest format the Revenue Limit is the Base Revenue Limit multiplied by Average Daily Attendance (ADA).
(Example: Net Funded Revenue Limit $ 6,072.86 x ADA 9,737.06 = $ 59 Million)
Q: Where does the District get its revenue from?
A: 52% comes from the Revenue Limit; 7% Federal Funds, 20% State funds (52% is Adult School Fund passed thru), and 6% Other Local Funds.
Q: What are Expenditures?
A: Money going out!
Q: What does the District spend its money on?
A: 80% of the funds are used to pay salaries and benefits, 5% Books and Supplies 14% Services and 1% Capital Outlay.
Q: What is a Cash Deferral?
A: The State pushes payment or defers payments of revenue to later months.
Districts are entitled to revenue, however how that revenue is paid out is determined by the State. For example, if the Districts Revenue Limit is $49 million, the State spreads out the payment over the course of the year. In some months the District receives no cash and this year $20 million has been shifted until next fiscal year.
Q: What is Cash Flow?
A: Cash flow is the amount of actual cash that comes in and goes out in any given month. Cash flow projections are crucial since they represent how much cash you are expected to have…so that you don’t run out!
Q: What is Deficit spending?
A: Deficit spending occurs when you spend more money than you receive.
Q: What is an REU?
A: Reserve for Economic Uncertainty. The State requires that the District maintain a reserve in its ending fund balance to heath economic uncertainties. The current REU is 3% of total expenditures. Districts must maintain their required REU, District that do not are at risk for becoming fiscally insolvent (bankrupt).
Q: What is a COLA?
A: Cola stands for Cost of Living Adjustment. Legislation enacted provides for cost-of-living adjustments, or COLAs in order to keep pace with inflation. According to the formula, COLAs are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). CPI-Ws are calculated on a monthly basis by the Bureau of Labor Statistics.
Q: What is a TRANS (Tax Revenue Anticipation Notes)
A: The TRANS is a Pooled Financing Program with the Los Angeles County Office of Education (LACOE), which provides bridge financing to Districts.
Q: What is a Fiscal Year?
A: A fiscal year is different from a calendar year. The calendar year is Jan 1 to Dec 31. The Fiscal year is July 1 to Jun 30. The Fiscal Year represents the dates that the accounting books are opened and closed.
If you have any questions or comments, please contact the District Business Office at (626) 444-9005.