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Presented to CUSD Board of Trustees and Superintendent Campbell

March 15, 2015

Contents

ObjectivesGeneral Fund ComponentsGeneral Fund RevenuesGeneral Fund ExpendituresGeneral Fund Contributions and TransfersGeneral Fund Summary and Estimated Fund BalanceEstimated Ending Fund Balance (All Funds)Enrollment / Attendance TrendsGeneral Fund Multi-Year ProjectionNext Steps

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Objectives

2015-16 Second Interim Budget

Projected financial activity through June 30th (budget)Actual activity through January 31st

Second Interim Budget Report includes:Detailed Budgets for All Funds Enrollment and ADA TrendsMulti-Year Projection Estimated Cash Flow

Communication, Transparency, and Engagement

Local Control Funding Formula (LCFF) Target

CALCULATE LCFF TARGET

COLA 1.020%

Unduplicated as  % of Enrollment 3 yr average 55.98% 55.98% 2015‐16

ADA Base Gr Span Supp Concen TARGET

Grades  TK‐3 835.99  7,083  737  876  38  7,301,407 

Grades  4‐6 647.50  7,189  805  35  5,198,846 

Grades  7‐8 454.32  7,403  829  36  3,756,370 

Grades  9‐12 1,017.89  8,578  223  985  43  10,005,334 

Subtract NSS ‐  ‐  ‐  ‐ 

NSS Allowance ‐  ‐ 

TOTAL BASE 2,955.70  22,670,986  843,114  2,632,639  115,218  26,261,957 

Targeted Instructional  Improvement Block Grant ‐ 

Home‐to‐School  Transportation 1,337,636 

Small  School  District Bus  Replacement Program ‐ 

LOCAL CONTROL FUNDING FORMULA (LCFF) TARGET 27,599,593 

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LCFF Gap CalculationCALCULATE LCFF FLOOR

12‐13 15‐16

Rate ADACurrent year Funded ADA times Base per ADA 5,276.57  2,955.70  15,595,958 

Current year Funded ADA times Other RL per ADA 43.94  2,955.70  129,873 

Necessary Small  School  Allowance at 12‐13 rates ‐ 

2012‐13 Categoricals 3,835,928 

2012‐13 Categorical  Program Entitlement Rate per ADA * cy ADA ‐  ‐  ‐ 

Less  Fair Share Reduction ‐ 

Non‐CDE certified New Charter: District PY rate * CY ADA ‐  ‐  ‐ 

Beginning in 2014‐15, prior year LCFF gap funding per ADA * cy ADA 972.28$  2,955.70  2,873,768 

LOCAL CONTROL FUNDING FORMULA (LCFF) FLOOR 22,435,527 

CALCULATE LCFF PHASE‐IN ENTITLEMENT

2015/16LOCAL CONTROL FUNDING FORMULA TARGET 27,599,593 

LOCAL CONTROL FUNDING FORMULA FLOOR 22,435,527 

Applied Funding Formula: Floor or Target FLOOR

LCFF Need (LCFF Target less LCFF Floor, if positive) 5,164,066 

Current Year Gap Funding 51.97% 2,683,765 

ECONOMIC RECOVERY PAYMENT ‐ 

LCFF Entitlement before Minimum State Aid provision 25,119,292 

General Fund Revenues

LCFF / Property Tax – 63% of our LCFF revenue is from Property Taxes

Federal – District must follow specific grant guidelines for expending these funds (Title I, Title II, etc.)

Other State – State funds not part of LCFF (Lottery, Restricted Lottery, Special Education, etc.)

Local – Funds received from local sources (interest, rental/fees, donations, etc.)

LCFF, 85%

Federal, 5%

Other State, 7%

Local, 3%

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General Fund Revenue (cont.)

Changes between First and Second Interim include:Increase in LCFF due to estimated Gap rate from 51.52% to 51.97%Increase in Unduplicated Pupil Percentage from 54.47% to 55.98%Increase in Local Revenue due to receiving one-time grants

Bus replacementAgricultural equipment replacement

Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined

LCFF 25,000,108  ‐             25,000,108  25,119,292  ‐             25,119,292    119,184      ‐             119,184     

Federal Revenue ‐               1,395,956  1,395,956    ‐               1,395,956  1,395,956      ‐              ‐             ‐             

State Revenue 2,061,611    122,555     2,184,166    2,059,878    122,555     2,182,433      (1,733)         ‐             (1,733)        

Local Revenue 247,838       170,546     418,384       556,315       447,448     1,003,763      308,476      276,902     585,378     

Total Revenues    27,309,557  1,689,057  28,998,614  27,735,485  1,965,959  29,701,444    425,927      276,902     702,829     

2015‐16 First Interim 2015‐16 Second Interim Variance between 1st & 2nd

General Fund Expenditures

75% of our budgeted

expenditures is made up of employees

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General Fund Expenditures (cont.)

Changes between First and Second Interim include:Increase classified salaries and benefits due to one-time CSEA paymentIncrease in Capital Outlay due to the district receiving a bus replacement grant and Agricultural equipment replacement grantDecrease in Other Outgo due to greater amount of debt service being paid out of developer fees

Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined

Certificated Salaries 9,736,908    1,861,161  11,598,069  9,649,950    1,912,883  11,562,833    (86,959)       51,722       (35,237)      

Classified Salaries 3,228,158    1,468,364  4,696,522    3,323,216    1,511,131  4,834,347      95,058        42,767       137,825     

Benefits 5,174,871    1,277,939  6,452,810    5,248,716    1,348,672  6,597,388      73,845        70,733       144,578     

Books and Supplies 1,242,074    1,083,176  2,325,250    1,172,901    1,140,398  2,313,299      (69,173)       57,222       (11,951)      

Other Services & Oper.  1,735,859    1,136,925  2,872,784    1,734,744    1,182,208  2,916,951      (1,115)         45,283       44,167       

Capital Outlay 1,365,000    52,842       1,417,842    1,730,626    76,892       1,807,518      365,626      24,050       389,676     

Other Outgo 592,632       10,000       602,632       492,632       10,000       502,632         (100,000)     ‐             (100,000)    

Transfer of Indirect (89,023)        34,677       (54,346)        (90,104)        35,759       (54,346)          (1,081)         1,081         ‐             

Total Expenditures    22,986,478  6,925,084  29,911,563  23,262,680  7,217,942  30,480,622    276,201      292,858     569,059     

2015‐16 Second Interim Variance between 1st & 2nd2015‐16 First Interim

Expenditures by Activity

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Contributions

Description2015‐16 

First Interim2015‐16

Second InterimAgricultural Vocation Ed* 8,982 8,982

BTSA / Induction 31,043 31,043

Restricted Maintenance 851,754 860,046

Special Education 3,755,184 3,762,848

Total Contributions $4,646,962 $4,662,919

2015-16 Summary of General Fund

Unassigned Fund Balance was projected at 5.9%

Unassigned Fund Balance is projected at 7.2%

Description Unrestricted Restricted Combined Unrestricted Restricted Combined

Total Revenues    27,309,557        1,689,057     28,998,614    27,735,485    1,965,959      29,701,444   

Total Expenditures    22,986,478        6,925,084     29,911,563    23,262,680    7,217,942      30,480,622   

Total Financing Sources/Uses (4,646,962)        4,646,962     ‐                 (4,762,918)     4,662,918      (100,000)       

Net Surplus / (Deficit) (323,883)           (589,065)       (912,949)        (290,113)        (589,065)        (879,179)       

FUND BALANCE, RESERVES

Beginning Balance    3,094,601          589,065        3,683,666      3,094,601      589,065         3,683,666     

Ending Balance    2,770,718          ‐                2,770,718      2,804,488      ‐                 2,804,488     

Nonspendable (Revolving Cash) 20,000               ‐                20,000           20,000           ‐                 20,000          

Prepaid Expenditures ‐                    ‐                ‐                 ‐                 ‐                 ‐                

Restricted ‐                    ‐                ‐                 ‐                 ‐                 ‐                

Assigned 999,982             ‐                999,982         598,232         ‐                 598,232        

Unassigned ‐ REU 897,000             ‐                897,000         914,000         ‐                 914,000        

Unassigned ‐ Other 853,736             ‐                853,736         1,272,256      ‐                 1,272,256     

Total ‐ Fund Balance 2,770,718          ‐                2,770,718      2,804,488      ‐                 2,804,488     

2015‐16 First Interim Budget 2015‐16 Second Interim Budget

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Estimated Ending Fund Balance (All Funds)

Audited 

Beginning 

Fund Balance Revenue Expenditures

 Net 

Surplus / 

(Deficit) 

 Projected 

Ending Fund 

Balance 

01 General Fund (Unrestricted and Restricted) 3,683,666       29,701,444  30,580,622       (879,178)      2,804,489          

12 Child Development 44,284            564,627       567,441            (2,814)          41,470               

13 Cafeteria 297,926          1,194,178    1,320,191         (126,013)      171,912             

14 Deferred Maintenance 10,615            100,000       110,615            (10,615)        ‐                     

21 Building Fund 1,932,662       ‐               1,932,662         (1,932,662)   ‐                     

25 Capital Facilities 96,577            300,600       316,000            (15,400)        81,177               

35 County School Facilities ‐                 ‐               ‐                   ‐               ‐                     

40 Special Reserve Fund Capital Projects 126,863          ‐               33,516              (33,516)        93,347               

51 Bond Interest & Redemption 2,365,453       2,293,768    2,293,768         ‐               2,365,453          

52 Blended Component Debt Service 469,581          ‐               ‐                   ‐               469,581             

All Funds Total $9,027,626 $34,154,617 $37,154,815 ($3,000,198) $6,027,428

Fund

-16

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Weekly Enrollment

Trends(page 8)

2011/12 Actual ∆ CBEDS 2012/13 Actual ∆ CBEDS 2013/14 Actual ∆ CBEDS 2014/15 Actual ∆ CBEDS 2015/16 Actual ∆ CBEDS

7/27/2011 3295 0 3302 8/1/2012 3242 0 3188 7/31/2013 3138 0 3138 7/30/2014 3126 0 3079 7/30/2015 2978 0 2996

8/3/2011 3304 9 8/8/2012 3214 ‐28 8/7/2013 3117 ‐21 8/6/2014 3111 ‐15 8/5/2015 2972 ‐6

8/10/2011 3304 9 8/15/2012 3226 ‐16 8/14/2013 3138 0 8/13/2014 3113 ‐13 8/19/2015 2988 10

8/17/2011 3296 1 8/22/2012 3214 ‐28 8/21/2013 3149 11 8/20/2014 3110 ‐16 8/26/2015 2999 21

8/24/2011 3302 7 P1 8/29/2012 3208 ‐34 P1 8/28/2013 3146 8 P1 8/27/2014 3109 ‐17 P1 9/2/2015 3008 30 P1

8/31/2011 3312 17 3,158.93   9/5/2012 3216 ‐26 3,064.86   9/4/2013 3145 7 3,002.45   9/3/2014 3098 ‐28 2,947.26    9/9/2015 3007 29 2,863.40   

9/7/2011 3324 29 9/12/2012 3211 ‐31 9/11/2013 3151 13 9/10/2014 3087 ‐39 9/16/2015 3014 36

9/14/2011 3320 25 P2 9/18/2012 3205 ‐37 P2 9/18/2013 3149 11 P2 9/17/2014 3074 ‐52 P2 9/30/2015 3023 45 P2

9/21/2011 3323 28 3,142.58   9/26/2012 3199 ‐43 3,050.92   9/25/2013 3154 16 2,988.67   9/24/2014 3078 ‐48 2,923.14    10/21/2015 3025 47 ‐              

9/28/2011 3321 26 95.52% 10/17/2012 3201 ‐41 95.58% 10/16/2013 3156 18 95.88% 10/1/2014 3078 ‐48 95.19% 10/28/2015 3023 45 ‐              

10/19/2011 3317 22 10/24/2012 3205 ‐37 10/23/2013 3155 17 10/22/2014 3072 ‐54 11/4/2015 3022 44

10/26/2011 3314 19 10/31/2012 3206 ‐36 10/30/2013 3155 17 10/29/2014 3081 ‐45 11/12/2015 3014 36

11/2/2011 3311 16 Annual 11/6/2012 3204 ‐38 Annual 11/6/2013 3150 12 Annual 11/5/2014 3079 ‐47 Annual 11/18/2015 3016 38 Annual

11/9/2011 3302 7 3,133.89   11/14/2012 3211 ‐31 3,035.38   11/13/2013 3153 15 2,988.02   11/12/2014 3082 ‐44 2,907.69    12/2/2015 3020 42

11/16/2011 3299 4 11/21/2012 3211 ‐31 11/20/2013 3153 15 11/19/2014 3088 ‐38 12/9/2015 3020 42

11/30/2011 3300 5 11/28/2012 3211 ‐31 11/26/2013 3149 11 11/25/2014 3089 ‐37 12/16/2015 3015 37

12/7/2011 3308 13 12/5/2012 3206 ‐36 12/4/2013 3148 10 12/3/2014 3097 ‐29 1/13/2016 3010 32

12/14/2011 3304 9 12/12/2012 3206 ‐36 12/11/2013 3148 10 12/10/2014 3091 ‐35 1/20/2016 3009 31

1/11/2012 3315 20 12/19/2012 3202 ‐40 12/18/2013 3142 4 12/17/2014 3092 ‐34 1/27/2016 3002 24

1/18/2012 3301 6 1/16/2012 3185 ‐57 1/15/2014 3147 9 1/14/2015 3084 ‐42 2/3/2016 2999 21

1/25/2012 3299 4 1/23/2013 3183 ‐59 1/22/2014 3142 4 1/21/2015 3076 ‐50 2/10/2016 3000 22

2/1/2012 3304 9 1/30/2012 3183 ‐59 1/29/2014 3135 ‐3 1/28/2015 3077 ‐49 2/17/2016 2994 16

2/8/2012 3304 9 2/6/2013 3183 ‐59 2/5/2014 3132 ‐6 2/4/2015 3071 ‐55 2/24/2016 2994 16

2/15/2012 3314 19 2/13/2013 3185 ‐57 2/12/2011 3124 ‐14 2/10/2015 3072 ‐54 3/2/2016 2989 11

2/22/2012 3310 15 2/20/2013 3180 ‐62 2/26/2014 3127 ‐11 2/18/2015 3071 ‐55 3/9/2016 2988 10

2/29/2012 3310 15 2/27/2013 3193 ‐49 3/5/2014 3121 ‐17 2/25/2014 3070 ‐56 ‐   

3/7/2012 3296 1 3/6/2013 3189 ‐53 3/12/2014 3119 ‐19 3/4/2015 3076 ‐50 ‐   

3/14/2012 3296 1 3/13/2013 3182 ‐60 3/19/2014 3119 ‐19 3/11/2015 3072 ‐54 ‐   

4/4/2012 3290 ‐5 3/20/2013 3184 ‐58 4/9/2014 3117 ‐21 4/1/2015 3047 ‐79 ‐   

4/11/2012 3290 ‐5 4/10/2013 3190 ‐52 4/16/2014 3117 ‐21 4/8/2015 3054 ‐72 ‐   

4/18/2011 3290 ‐5 4/17/2013 3192 ‐50 4/23/2014 3125 ‐13 4/15/2015 3054 ‐72 ‐   

4/25/2012 3289 ‐6 4/24/2013 3188 ‐54 4/30/2014 3138 0 4/22/2015 3054 ‐72 ‐   

5/2/2012 3288 ‐7 5/1/2013 3181 ‐61 5/7/2014 3139 1 4/29/2015 3053 ‐73 ‐   

5/9/2012 3283 ‐12 5/8/2013 3183 ‐59 5/21/2014 3136 ‐2 5/6/2015 3054 ‐72 ‐   

5/16/2012 3278 ‐17 5/22/2013 3175 ‐67 5/27/2014 3137 ‐1 5/13/2015 3052 ‐74 ‐   

5/23/2012 3279 ‐16 5/29/2013 3173 ‐69 6/4/2014 3129 ‐9 5/20/2015 3045 ‐81 ‐   

5/30/2012 3279 ‐16 6/5/2013 3162 ‐80 6/10/2014 3122 ‐16 5/27/2015 3043 ‐83 ‐   

6/6/2012 3269 ‐26 6/12/2013 3156 ‐86 6/3/2015 3037 ‐89 ‐   

6/10/2015 3026 ‐100

72 0.0219       113 0.0349       34 0.0108       96 0.0307        ‐    ‐              Annual Loss of StudentsAnnual Loss of Student Annual Loss of StudentsAnnual Loss of Students Annual Loss of Students

EVEN ODD EVEN ODD EVEN

Multi-Year Projection Revenue Assumptions

DOF Projected Gap Closure Rates

All other State, Federal and Local revenue will remain flatAssuming declining enrollment and increase COLA (or per student allocation) will offset each other

2% declining enrollment from year to yearProp 30 revenue going away (starting 2017-18)

Based on Governor's 2016/17 Budget ProposalYear 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

COLA 0.85% 1.02% 0.47% 2.13% 2.65% 2.72%Gap 30.16% 51.97% 49.08% 45.34% 6.15% 34.21%

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Multi-Year Projection Expenditure Assumptions

Projected Step & Column Starting 2016-17 ongoing 3% salary schedule increase for CSEA membersStarting 2016-17 ongoing $200 per month per member medical cap increase for CSEA membersSTRS

PERS

Projected Contracts and Services increase

Projected CalPERS Employer Rates

2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

11.771% 11.847% 13.05% 16.60%* 18.20%* 19.90%* 20.40%*

CalSTRS Rates per Education Code Sections 22901.7 and 22950.5

2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

8.88% 10.73% 12.58% 14.43% 16.28% 18.13% 19.10%

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Description Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined Unrestricted Restricted Combined

REVENUES

General Purpose Revenue 25,119,292    ‐               25,119,292   25,724,449    ‐                 25,724,449   26,013,744    ‐                 26,013,744   25,592,790   ‐                 25,592,790    

Federal Revenue ‐                 1,395,956    1,395,956     ‐                 868,401          868,401        ‐                 868,401          868,401        ‐                868,401          868,401         

State Revenue 2,059,878      122,555       2,182,433     506,744         123,055          629,799        504,173         123,055          627,228        501,674        123,055          624,729         

Local Revenue 556,315         447,448       1,003,763     253,215         87,710            340,925        253,215         ‐                 253,215        253,215        ‐                 253,215         

Total Revenues    27,735,485    1,965,959    29,701,444   26,484,408    1,079,166       27,563,574   26,771,132    991,456          27,762,588   26,347,679   991,456          27,339,135    

EXPENDITURES

Certificated Salaries 9,649,950      1,912,883    11,562,833   9,929,358      1,733,424       11,662,782   9,911,441      1,758,363       11,669,804   9,897,541     1,781,631       11,679,173    

Classified Salaries 3,323,216      1,511,131    4,834,347     3,371,581      1,583,030       4,954,612     3,439,986      1,618,846       5,058,832     3,511,060     1,654,007       5,165,067      

Benefits 5,248,716      1,348,672    6,597,388     5,466,346      1,440,080       6,906,426     5,768,140      1,549,275       7,317,415     6,004,057     1,626,750       7,630,807      

Books and Supplies 1,172,901      1,140,398    2,313,299     936,136         393,852          1,329,988     934,468         382,267          1,316,735     933,390        374,563          1,307,952      

Other Services & Oper. Exp 1,734,744      1,182,208    2,916,951     1,678,023      811,517          2,489,540     1,687,615      807,603          2,495,218     1,697,302     805,496          2,502,798      

Capital Outlay 1,730,626      76,892         1,807,518     23,000           52,842            75,842          23,000           52,842            75,842          23,000          52,842            75,842           

Other Outgo  492,632         10,000         502,632        604,481         10,000            614,481        611,120         10,000            621,120        622,649        10,000            632,649         

Transfer of Indirect (90,104)          35,759         (54,346)         (90,104)          35,759            (54,346)         (90,104)          35,759            (54,346)         (90,104)         35,759            (54,346)         

Total Expenditures    23,262,680    7,217,942    30,480,622   21,918,823    6,060,502       27,979,325   22,285,665    6,214,954       28,500,619   22,598,895   6,341,047       28,939,943    

Excess / (Deficiency) 4,472,805      (5,251,983)   (779,179)       4,565,585      (4,981,336)     (415,751)       4,485,467      (5,223,498)     (738,031)       3,748,783     (5,349,591)     (1,600,808)    

OTHER SOURCES/USES

Transfers In ‐                 ‐               ‐                ‐                 ‐                 ‐                ‐                 ‐                 ‐                ‐                ‐                 ‐                

Transfers Out (100,000)        ‐               (100,000)       ‐                 ‐                 ‐                ‐                 ‐                 ‐                ‐                ‐                 ‐                

Net Other Sources (Uses) ‐                 ‐               ‐                ‐                 ‐                 ‐                ‐                 ‐                 ‐                ‐                ‐                 ‐                

Contributions to Restricted (4,662,918)     4,662,918    ‐                (4,981,336)     4,981,336       ‐                (5,223,498)     5,223,498       ‐                (5,349,591)    5,349,591       ‐                

Total Financing Sources/Uses (4,762,918)     4,662,918    (100,000)       (4,981,336)     4,981,336       ‐                (5,223,498)     5,223,498       ‐                (5,349,591)    5,349,591       ‐                

Net Surplus / (Deficit) (290,113)        (589,065)      (879,179)       (415,751)        ‐                 (415,751)       (738,031)        ‐                 (738,031)       (1,600,808)    ‐                 (1,600,808)    

FUND BALANCE, RESERVES

Beginning Balance    3,094,601      589,065       3,683,666     2,804,488      ‐                 2,804,488     2,388,737      ‐                 2,388,737     1,650,706     ‐                 1,650,706      

Ending Balance    2,804,488      ‐               2,804,488     2,388,737      ‐                 2,388,737     1,650,706      ‐                 1,650,706     49,898          ‐                 49,898           

Nonspendable (Revolving Cash) 20,000           ‐               20,000          20,000           ‐                 20,000          20,000           ‐                 20,000          20,000          ‐                 20,000           

Prepaid Expenditures ‐                 ‐               ‐                ‐                 ‐                 ‐                ‐                 ‐                 ‐                ‐                ‐                 ‐                

Restricted ‐                 ‐               ‐                ‐                 ‐                 ‐                ‐                 ‐                 ‐                ‐                ‐                 ‐                

Assigned  598,232         ‐               598,232        598,232         ‐                 598,232        598,232         ‐                 598,232        598,232        ‐                 598,232         

Unassigned ‐ 3% REU 914,000         ‐               914,000        840,000         ‐                 840,000        856,000         ‐                 856,000        869,000        ‐                 869,000         

Unassigned ‐ Other 1,272,256      ‐               1,272,256     930,505         ‐                 930,505        176,474         ‐                 176,474        (1,437,334)    ‐                 (1,437,334)    

Total ‐ Fund Balance 2,804,488      ‐               2,804,488     2,388,737      ‐                 2,388,737     1,650,706      ‐                 1,650,706     49,898          ‐                 49,898           

Unassigned Reserve Unassigned Reserve 7.17% Unassigned Reserve 6.33% Unassigned Reserve 3.62% Unassigned Reserve -1.96%

2015‐16 2nd Interim Budget 2016‐17 Projected Budget 2017‐18 Projected Budget 2018‐19 Projected Budget

3/16/2016

11

Not in our Multi-Year Projection

Increasing severity of students with disabilities

Curriculum Adoptions

Deferred Maintenance

Contract Negotiations

TechnologyDue to instructional needs and aging infrastructure

Budgetary Unknowns

Free and Reduced rate / unduplicated pupil percentage

Enrollment

Prop 30 expiring? “Votes Split on Extending Proposition 30” – SSC Article, posted 12/4/15

State Revenue unknowns:Sales Taxes Fall Short According to Latest Finance Bulletin – SSC Article, posted 2/26/16January Revenues Fall Below Estimates According to State Controller – SSC Article, posted 2/12/16

3/16/2016

12

Next Steps

Continue to make budget reductions in line with declining enrollment and increasing costs

Continue to seek efficiencies

Continue to pursue and advocate for additional revenue

Continue to monitor enrollment and attendance

Regular Budget Updates

April

Technology (19th)

May

Third Interim Report (10th)

Governor’s May Revision (24th)

June

2016/17 LCAP & Proposed Budget (28th)

Presentation materials provided for distribution at meeting. Full presentation includes verbal commentary and discussion.