1 / 14

Budget Overview ASO Meeting

Budget Overview ASO Meeting. Diana Keelen February 16, 2012. “While the California budget is uncertain, there is one thing that is certain, it will change.”. 2011-2012 Estimated Actuals. Beginning Fund Balance $ 8,766,920 Revenues $56,000,828* Expenditures $58,019,135

masako
Télécharger la présentation

Budget Overview ASO Meeting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Budget OverviewASO Meeting Diana Keelen February 16, 2012 • “While the California budget is uncertain, there is one thing that is certain, it will change.”

  2. 2011-2012 Estimated Actuals Beginning Fund Balance $ 8,766,920 Revenues $56,000,828* Expenditures $58,019,135 Ending Fund Balance $ 6,748,612 Surplus/(Deficit) $ (2,018,307) Reserve % 11.63% • Includes anticipated prior year recalculations and mid-year cuts • Includes estimated deficit co-efficient and student fee increase of 2.4%. Will not have figure until the P1 at the end of January/ beginning of February. Potential property tax shortfall not included in these figures. • This presentation contains estimates. For budget planning purposes ONLY.

  3. General Fund Make Up of Revenue

  4. General Fund Make Up of Expenditures

  5. Revenue Reductions OverviewGeneral Unrestricted Fund 2011-2012 Deficit Co-Efficient is an estimate and does not include potential property tax shortfalls and possible exclusions from districts that are falling below 5% reserve

  6. Deferrals • New additional deferral of $30 million for a new figure of $991 million in total deferrals to California Community Colleges. February payments moved to April. • AVC impact: $428,823 in additional deferrals for a total of $14,165,447 or roughly 32% of our apportionment.

  7. Governor’s 2012-2013 Budget Proposal Highlights • State deficit has gone from $26.6 billion to $9.2 billion • $5.1 billion from 2012-2013 and $4.1 billion carryover from prior year • Package includes $4.8 billion in “triggers” to K-12 & higher education if November tax package is not approved • Includes a categorical consolidation block grant, except for DSPS, TTIP and Foster Care Education • Reduces the Cal Works program & other significantly by $2 billion • Restructuring of the Cal Grants program

  8. 2012-2013 Community College Scenarios SCENARIO B SCENARIO A • $218 million deferral buy-back (no new funds) • $12.5 million in mandates block grant • Will give community colleges 4% each out year beyond 2012-13 through 2016 (not sure how that will be allocated, deferrals, growth, COLA?) • $264 million base cut workload reduction % • Scenario A becomes obsolete Categorical Consolidation will occur in Both Scenarios = $411.6 million 2012-2013 State Budget Webinar, January 11, 2012

  9. Budget Risks • Budget triggers geared to education if tax package does not pass • LAO estimates only $4.8 billion of the $6.9 billion in tax revenues due to higher earner income volatility • 5.56% workload will not be decided until after November 2012, making reductions difficult since it’s the middle of the fiscal year • Property tax shortfalls are likely, especially due to RDA dissolution • 50% Law implications 2012-2013 State Budget Webinar, January 11, 2012

  10. 3 Year Projection-Taxes Pass • Includes anticipated prior year recalculations and mid-year cuts • This presentation contains estimates. For budget planning purposes ONLY. • 4% in 2013/14-2015/16 breakout not explained. Could deferral buy-back.

  11. 3 Year Projection-Taxes Do Not Pass • Includes anticipated prior year recalculations and mid-year cuts • This presentation contains estimates. For budget planning purposes ONLY.

  12. Revenue & Expenditures TrendGeneral Unrestricted Fund

  13. 2012-2013 Budget Timeline Jan – May: Legislative Hearings End of Jan 2012: LAO releases budget analysis Mar 1: DOF requests legislative action early on certain items-to include CCC redevelopment offset May 14: Governor releases May revise June 15: Constitutional deadline for Legislature to send budget to Governor Nov 6: General Elections Jan 1, 2013: Trigger reductions take effect if revenue targets are not met 2012-2013 State Budget Webinar, January 11, 2012

  14. Questions?

More Related