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Second Interim Budget Highlights 2007-2008

Second Interim Budget Highlights 2007-2008. Chief Business Official Mr. Tim Zearley. FEDERAL & STATE REVENUE. $ -34,098. Federal Revenue for Grants / Entitlements since 1 st Interim. Revised Special Education state allocation. Total increase to Federal and State Revenue since

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Second Interim Budget Highlights 2007-2008

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  1. Second Interim Budget Highlights 2007-2008 Chief Business Official Mr. Tim Zearley

  2. FEDERAL & STATE REVENUE $ -34,098 Federal Revenue for Grants / Entitlements since 1st Interim. Revised Special Education state allocation. Total increase to Federal and State Revenue since 1st Interim. $ 61,314 $27,216

  3. UNRESTRICTED EXPENDITURES $3,420 $3,775 $-355

  4. RESTRICTED EXPENDITURES $27,216 $27,216 $30,633

  5. MULTI-YEAR PROJECTION • Often, looking at one year of financial data will not provide the person with the ability to observe financial trends. That is why the district provides three years of projected data for the General Fund. • In order to project the budget, a series of assumptions regarding the district conditions must be determined. These assumptions take into consideration economic forecasts for the State of California, local growth trends, and a variety of other issues.

  6. DISTRICT ASSUMPTIONS • ADA will increase 0% in 08-09, 0% in 09-10, and 0% in 10-111. • The State cost of living increase is -2.4%, 3.0%, and 2.6% respectively. • Teaching positions will increase by 0 positions respectively. • The California CPI will be 2.7%, 2.5%, and 2.7% respectively. • The interest rate for 10 year treasuries is 4.1%, 4.8%, and 5.0% respectively. • Lottery revenue is estimated at $120 per prior year annual ADA for all years. • Staff salary increases are not included in the projection. • Health and Welfare benefits increase by 0% for all years.

  7. APPROVE THE BUDGET? • Do we have adequate reserves? Yes • Are we deficit spending? Yes If so, is it planned? Yes • It is a budget. Are our estimates reasonable? Yes • Can we sustain in MYP? Yes • If so, then you can confidently approve this budget.

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