1 / 12

Los Gatos Union School District

Los Gatos Union School District. Unaudited Actuals FY 2007-08. Cynthia Shieh. September 9, 2008. 2008-09 Budget Reporting Calendar. Budget Adoption: 6/17/08 Year end closing for FY 2007/08 (Unaudited Actuals): 9/08

zanta
Télécharger la présentation

Los Gatos Union School District

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. Los Gatos Union School District Unaudited Actuals FY 2007-08 Cynthia Shieh September 9, 2008

  2. 2008-09 Budget Reporting Calendar Budget Adoption: 6/17/08 Year end closing for FY 2007/08 (Unaudited Actuals): 9/08 45-Day Budget Revision: after Governor signs the Budget into Law (Budget Act) Audited Report: 11/08 (will be presented by Auditors) 1st Interim: cutoff 10/31/08: 12/08 2nd Interim: cutoff 1/31/08: 3/09 Estimated Actuals for 2008/09 & Budget Adoption for 2009/10: 6/09 Year end closing for FY 2008/09: 9/09

  3. Summary - FY 2007/08 Financial Highlights: • Parcel Tax was passed in June with 83% voter approval. • Overall, the total property taxes grew $1,025,161 to $16,289,509, a 7% increase from FY 2006/07 to FY 2007/08. • Employees were offered a 6% salary increase, and a 6% Health & Welfare Benefits increase. • Financial Challenges: • Enrollment grew by 120 students (based on CBEDS; 2,587 in FY 2006/07 • and 2,797 in FY 2007/08). • Deficit Spending by $605,045.

  4. General Fund Total Revenue: $25,613,901 Unrestricted Amount: $19,247,139; 75% of total revenue Restricted Amount: $6,366,762; 25% of total revenue

  5. General Fund Total Expenditure: $25,907,302 Unrestricted Amount: $19,852,185; 77% of total revenue Restricted Amount: $6,055,116; 23% of total revenue

  6. Unrestricted General Fund Summary –FY 2007/08 • The Unrestricted ending balance was lower than anticipated by $80K. The variance in Revenue: 0.36% ($19,247,141 vs. $19,316,323) The variance in Expenditure: 0.06% ($19,852,187 vs. $19,840,691) • Components of ending balance • Unrestricted Ending Balance $2,100,998 • Lottery (1,268) • Net Unrestricted Ending Balance $2,099,730 (including 7% Reserve $1,813,511) • 7% = $1,813,511

  7. Budget Monitoring: General Fund Unrestricted

  8. Unrestricted General Fund

  9. Notes to Unaudited ActualGeneral Fund • REVENUE Revenue Limit Principal Apportionment – to COE Program (134,919) State Revenue Mandated Cost and Lottery 326 Local Revenue Parcel Tax (8,763) Lease Rental 7,900 Interest 42,055 Transfer In from Developer Fee Fund (3% Administrative Cost) (6,558) Contribution – Special Education 30,777 TOTAL (69,182) • EXPENDITURES Salaries and Benefits 7,153 Book and Supplies 10,719 Service and Other Operating – Utilities, Telephone 24,463 Capital Outlay (20,166) Other Outgo – Indirect Cost (10,674) TOTAL 11,495

  10. Ending Balance: FY 2005/06 to FY 2007/08

  11. Special Revenue Funds – FY 2007/08 Cafeteria Fund Total Revenue $526,343 Total Expenditure $531,234 Beginning Balance $66,920 Ending Balance $62,029 Deferred Maintenance Fund Total Revenue $216,466 Total Expenditure $170,479 Beginning Balance $128,477 Ending Balance $174,464 Special Reserve-Retiree Benefits Fund Total Revenue $255,143 Total Expenditure $0 Beginning Balance $1,066,275 Ending Balance $1,321,418

  12. Capital Project Funds – FY 2007/08 Building Fund Total Revenue $370,537 Total Expenditure $3,198,518 Beginning Balance $9,129,410 Ending Balance $6,301,562 Capital Facility Fund Total Revenue $238,361 Total Expenditure $106,752 Beginning Balance $51,464 Ending Balance $183,073 County School Facility Fund Total Revenue $34,694 Total Expenditure $323,833 Beginning Balance $289,281 Ending Balance $142 Special Reserve-Capital Outlay Fund Total Revenue $262,126 Total Expenditure $31,230 Beginning Balance $5,220,775 Ending Balance $5,451,671

More Related