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First Interim Budget Report 2013-14 Activity through October 31, 2013 Presented December 11, 2013

Mt. Diablo Unified School District. First Interim Budget Report 2013-14 Activity through October 31, 2013 Presented December 11, 2013 Nellie Meyer, Ed.D ., Superintendent Bryan Richards, Chief Financial Officer. LCFF: A Whole New World.

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First Interim Budget Report 2013-14 Activity through October 31, 2013 Presented December 11, 2013

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  1. Mt. Diablo Unified School District First Interim Budget Report 2013-14 Activity through October 31, 2013 Presented December 11, 2013 Nellie Meyer, Ed.D., Superintendent Bryan Richards, Chief Financial Officer

  2. LCFF: A Whole New World • The entire revenue limit has been thrown out. We have a new mechanism for calculating revenue, the Local Control Funding Formula • Target rates per student by grade level • K-3 Base $6,952 plus Grade Span (CSR) $723 • 4-6 $7,056 • 7-9 $7,266 • 9-12 $8,419 plus Grade Span (was CTE) $219 • Supplemental funding of 20% for students who are either English Language Learners, receiving Free & Reduced Lunch or Foster Youth • Concentration funding if over 55% of students qualify for supplemental funding (we are at 49%)

  3. LCFF Target Amounts 2020-21 (projected) $263,052,578 Note: MDUSD does not qualify for concentration funding.

  4. LCFF Funding Amounts 2013-14 (projected) $204,633,181 Note: MDUSD does not qualify for concentration funding.

  5. Declining enrollment • We are still in a declining enrollment funding model • We are projecting a decline of 287.32 ADA in 2013/14 from 2012/13

  6. MDUSD ADA is still declining!

  7. Unrestricted General Fund Revenue • RL/LCFF Sources $ 160,026,120 • Federal Revenue 238,982 • Other State Revenue 33,504,486 • Other Local Revenue 4,274,874 • Interfund Transfers In 0 • Total Revenue 198,044,462 • Less: Net Contrib. to RGF (40,154,876) • Net Available Revenue $ 157,889,586

  8. LCFF/Revenue Limit is 80.2% of unrestricted general fund revenue. This will grow once conversion of former categoricals is complete.

  9. Unrestricted General Fund Expenditures • Certificated Salaries $ 93,809,129 • Classified Salaries 20,250,709 • Employee Benefits 32,596,808 • Books & Supplies 4,199,616 • Services & Operating 10,960,862 • Capital Outlay 181,600 • Other Outgo 0 • Interfund Transfers Out 3,519,751 • Total Expenditures 165,518,475

  10. Salaries and Benefits make up 88.6% of expenditures & transfers out

  11. Unrestricted General Fund Summary • Net Available Revenue $ 157,889,586 • Net Expenditures 165,518,475 • Net (decrease) fund bal. ( 7,628,891) • Beginning Balance, July 1 42,300,356 • Projected Ending Balance $ 34,671,465

  12. Components of Ending Balance • Revolving Cash $ 305,000 • Stores Inventory 462,769 • Economic Uncertainties (3%) 8,972,226 • Tier 3 Balances & Site carryovers 4,809,058 • Undesignated 20,122,412 • Ending Balance $ 34,671,465

  13. Restricted General Fund Revenue • Revenue Limit Sources $ 9,240,654 • Federal Revenue 29,650,481 • Other State Revenue 42,911,990 • Other Local Revenue 8,635,988 • Interfund Transfers In 0 • Contribution from Unr. 42,765,960 • Total Revenue $133,205,073

  14. Restricted General Fund Expenditures • Certificated Salaries $ 38,145,027 • Classified Salaries 20,014,237 • Employee Benefits 21,895,621 • Books & Supplies 24,624,578 • Services & Other Operating 28,407,152 • Capital Outlay 707,394 • Other Outgo 254,994 • Indirect Costs 2,117,778 • Interfund Transfers Out 0 • Total Expenditures $ 136,166,781

  15. Restricted General Fund Summary • Total Revenue $ 133,205,073 • Total Expenditures 136,166,781 • Net (decrease) in fund bal. ( 2,961,708) • Beginning Balance, July 1 11,183,370 • Projected Ending Balance $ 8,221,662

  16. Other Funds of the District • Funds for special purposes excluded from the General Fund • Special Revenue Funds • Charter School – Form 09I • Adult Education – Form 11I • Cafeteria – Form 13I • Deferred Maintenance – Form 14I • Capital Projects Funds • Building (Proceeds of Measure C for construction) – Form 21I • Capital Facilities (a.k.a. Developer Fees) – Form 25I

  17. Other Funds of the District (cont’d) • Capital Project Funds (continued) • County School Facilities Fund (Statewide bond proceeds for construction like Prop 1A, 55) – Fund 35I • Capital Project Fund for Blended Component Units (Mello-Roos, Measure A) – Fund 49I • Debt Service Funds • Bond Interest & Redemption Fund (Measure C) – Fund 51I • Debt Service Fund for Blended Component Units (Measure A) – Fund 52I • Trust Funds • Foundation Private-Purpose Trust Fund – Fund 73I

  18. Supplemental Information • Form AI: Average Daily Attendance continues do decrease as noted above. We continue to be funded on prior year when declining under LCFF. Projected decrease of (287.32) in 2013/14 affects funding in 2014/15. • Form CASH: Cash Flow – Ending GF cash will be positive. Deferrals have stabilized and begun to be bought down as part of Governor Brown’s Wall of Debt plan • Form 01CSI: Criteria & Standards • Form CI: Certification to sign summarizes Criteria & Standards – QUALIFIED Certification because State has not determined if funding will be beyond COLA for next year.

  19. Form MYPI: Multi Year Projection • Undesignated @ 6/14 $ 20,122,411 • Operating Deficit 2014/15 (12,234,883) • Adjustment in 2% reserve (23,587) • Unappropriated Balance 6/14 7,863,941 • Operating Deficit 2014/15 (15,763,605) • Adjustment in 2% reserve (17,961) • Unappropriated Balance 6/15 $ (7,917,625) Based upon first interim guidance to budget only COLA until the State’s budget comes out.

  20. Qualified Certification – What does it mean? • The District projects that it may not meet its financial obligations for the current fiscal year or two subsequent fiscal years if the State only funds the equivalent of the COLA. • We will meet our obligations for this year and next year. • We may be unable to meet obligations for the third year out based on current projections (depending on what comes in the Governor’s January budget). • DOF preliminary calculations in the LCFF calculator indicate we will get funding above the COLA, but it has not yet been proposed in the budget.

  21. LAO Issues Budget AssessmentSCO Cash Report • State revenues have finally turned the corner and are on track to rise • Projections indicate that Proposition 98 funding will increase beyond the COLA • The SCO indicated while November came in low, year to date State cash collections are up.

  22. What next?More fromSacramento • Governor Brown’s budget will be announced in January • LCFF / LCAP regulations due in January • LCAP Templates due from State by March • Our LCAP and Budget due by July 1 • Two Hearings on each to happen in June • Public Input sessions during winter & spring

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