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Budget Advisory Committee

Budget Advisory Committee . Wright Elementary School District November 29, 2011. State Budget (June 2011). “Flat Funding” for Schools Assembly Bill (AB) 114, Education Trailer Bill Governor’s letter to CA State Assembly

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Budget Advisory Committee

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  1. Budget Advisory Committee Wright Elementary School District November 29, 2011

  2. State Budget (June 2011) • “Flat Funding” for Schools • Assembly Bill (AB) 114, Education Trailer Bill • Governor’s letter to CA State Assembly • Included $4 billion more in General Fund revenues to help create a balanced budget and pass the enacted 2011-12 State Budget. • Potential “Trigger” cuts if State revenue assumptions are not met.

  3. Understanding the “Trigger”

  4. Understanding the Trigger” (continued)

  5. Updating the Trigger

  6. Updating the Trigger (continued) SSSC Fiscal Report: The “Trigger Tracker” Continues to Challenge our Revenues, 11/23/2011

  7. By the NumbersPast Performance and Future ProjectionsMulti-Year Projections (MYPs) 10/25/2011 * COLA: Cost of Living Adjustment

  8. By the NumbersPast Performance and Future ProjectionsMulti-Year Projections (MYPs) Revised 11/29/11 * COLA: Cost of Living Adjustment ‡ Revenue reflected projected 10 ADA increases

  9. MYPs (continued) Components of Fund Balancewith Trigger Cuts Only

  10. MYPs (continued) Components of Fund Balancewith Trigger Cuts & No COLA for 2012-13 If NO COLA in 12-13  REU: portion of fund balance designated by the governing board to provide for emergencies or economic events, i.e.: revenue shortfalls, that could not be anticipated

  11. Reserves % Level % level District ADA 5% or $60,000 (greater of) 0 - 300 4% or $60,000 (greater of) 301 - 1,000 3% 1,001 - 30,000 2% 30,001 - 400,000 1% 400,001 and over

  12. One-Time Federal/State Stimulus FundsEXPENDITURES

  13. Wright Elementary School District2011-12 Projected Revenue Prior toTrigger Cuts

  14. Wright Elementary School District2011-12 Projected Revenue AFTERTrigger Cuts

  15. 2010-11 Tier III Categorical Flexibility Programs (Adopted Mar 17, 2011)

  16. Wright Elementary School District2011-12 Projected Budget PRIOR TO Transportation Entitlement Reduction

  17. Wright Elementary School District2011-12 Projected Budget AFTER Transportation Entitlement Reduction

  18. Cash is Vital • Cash is King/Queen • No cash = State takeover • Cash shows no mercy • Multiple cash deferrals – 38.4% up from 29% from 2010-11

  19. State Multiple Cash Deferrals2011-2012 A-2 State Apportionment Schedule Base + deferrals for Revenue Limit ● 11-12 Advance Apportionment - July 2011: 5,074,238Based On 2010-11 P2 Certification ● 11-12 projected P1 certification apportionment- 5,074,238 , ●11-12 projected P2 certification apportionment- 5,074,238

  20. Future • The future fiscal picture depends on state finances and board decisions. • State Education “Trigger Cuts” • SCOE recommended No COLA projected in the 1st Interim for 2012-13 (3.1%) • Costs of health care for employees (currently 3-tier capped at CVT Kaiser Plan 3 Family) • Special education contribution (currently $1.38M) • Other program contributions: Title I, Economic Impact Aid (EIA), School & Library Improvement Block (SLIB), and Ongoing Maintenance ($0.39M) • Textbooks adoption, technology and transportation, etc. • Enrollment • Growth, Class Size, Attendance, etc. • Next Steps • Maintain Positive Certification • Revise budget to reflect latest decisions as needed • Determine course of action of budget solutions based on State decisions

  21. Budget Solutions • see Staff Reductions, 10/28/11 • General Fund only: • 1 day furlough district-wide: approx. $40,000 • 1% Health Benefit Costs: $17,745 (not incl. Café staff) • 1% Regular Salaries with Payroll Costs: • Certificated: $5,781,045 => $57,810 • Classified: $1,839,200 => $18,392 Total: $76,202

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