PLUMAS LAKE ELEMENTARY SCHOOL
DISTRICT
2012-13 First Interim
December 13, 2012
Each student will reach their fullest potential as we strive for District excellence through
sound leadership, effective communication, accountability, and investment in our staff.
FINANCIAL REPORTING CYCLE
Budget
development
is a
continuous
process
•Annual financial reporting:
•Budget Adoption – Due July 1, 2012
•First Interim – Due December 15, 2012
•Second Interim – Due March 15, 2013
•Unaudited Actuals – Due September 15, 2013
•Budget is developed based on assumptions in June;
•Assumptions are usually based on the information in the
May Revise
•Assumptions change during the year based on updates from
the State and we are required to file two interim reports
during the year and certify one of the following:
•Positive: District can meet its current year and
subsequent two year obligations;
•Qualified: District may not be able to meet its current year
and subsequent two year obligations; or
•Negative: District cannot meet its current year and
subsequent two year obligations.
BUDGET ASSUMPTIONS
2012-13 Budget Development
2012-13 First Interim
Statutory COLA
3.24%
3.24%
Trigger Cuts – if tax initiatives fail
$441 per ADA
$441 per ADA
Deficit Factor
22.272%
$0.77728 per $1.00
22.272%
$0.77728 per $1.00
Revenue Limit (RL) w/ COLA
RL w/ deficit
Loss per ADA
$6,912.36
$5,373.62
$1,539.74
$6,912.36
$5,372.84
$1,539.74
State Categorical Programs
COLA
0
0
Ed Jobs Funds ($222,813 final entitlement)
$11K
$12K
Federal Funds COLA
0
0
Average Daily Attendance (ADA)
1030.59 K-8 plus 6.42 County =
1037.01
1040 K-8 plus 6.42 County –
1046.42
Lottery Base
Lottery Prop 20
$118.25
$23.75
$124.25
$30.00
SITE STAFF
Cobblestone
Rio Del Oro
Riverside Meadows
Office
Administrator
Site Secretary
Administrator
Site Secretary
Office Clerk (3 hrs)
Administrator
Site Secretary
Office Tech (5 hrs)
K-8 Classrooms
14 FTE Teachers
(includes TK classroom)
1 Para (TK)
23 FTE Teachers
12 FTE Teachers
Special Education
1 FTE Teacher
2 Paras Learning Center (LC)
2 FTE Teachers
3 Paras SDC
2 Paras LC
1 Para One-on-One
1 FTE
4 Paras LC
1 Para One-on-One
Other
0.428 0.4 FTE PE Teacher
0.375 FTE Library Clerk
0.643 0.6 FTE PE Teacher
0.375 FTE Library Clerk
2 FTE PE Teachers
0.4 FTE Band Teachers
0.375 FTE Library Clerk
Yard Duty/Campus
Supervision
6 hours Yard Duty
6 hours Yard Duty
2 hours Crossing Guard
1.75 hours Yard Duty
5.5 hours Campus Monitor
Custodial
1.875 FTE
2 FTE
2 FTE
Shared positions
Health Clerk – 6 hours
Academic Coach – 1 FTE
Counselor – 1 FTE
Psychologist – 1 FTE
REVENUE LIMIT STATE AID
Revenue Limit calculations -Using 1040 for K-8 however P2 ADA may come in higher:
Month 1
Month 2
Month 3
Month 4
Monthly
ADA
1058.13
97.95%
1054.35
97.76%
1047.95
97.25%
1057.36
96.95%
Cumulative
ADA
1058.13
97.91%
1056.03
97.83%
1053.14
97.62%
1054.55
(P1)
97.48%
Average
Enrollment
1081
1079
1078
1091
Potential for more revenue – as of 12/11/12 enrollment is 1098
 If enrollment continues to grow until P2 we could see higher P2 ADA Data.
 If P2 ADA comes in the same as P1 ADA there is potential for an increase in state aid - $85,339
REVENUE LIMIT STATE AID
2012-13
Budget
2012-13
First Interim
Change
Notes
Principal Apportionment
$5,479,093
$5,530,424
$51,331
0.9%
Adjusted ADA
Property Taxes
$624,718
$624,718
0
Revenue Limit Transfers
$11,603
$11,282
($321)
(2.8%)
Based on classified
salaries subject to
PERS
FEDERAL REVENUE
•
Education Jobs Funding - $12,057
• Was spent by September 30, 2012 for teacher salaries
• No more funding available
•
No Child Left Behind (NCLB) Funding
 Title I Improving the Academic Achievement of the Disadvantaged Part 1
 Budget Development: Preliminary numbers were $45K, however due to the requirements of the
program we did not budget, however CDE has posted preliminary entitlements now and the amount
was significantly higher.
 First Interim – Preliminary entitlement is $82,090
 Title II Preparing, Training, and Recruiting High Quality Teachers and Principals
 Budget Development - $3,449
 First Interim – preliminary entitlement is $6,398
 Title III – English Language Acquisition, Language Enhancement and Academic Achievement
for Limited English Proficient (LEP) Students - $11,426
•
Special Education
•
•
•
 Local Assistance Grants - $72,483
 SPED IDEA Mental Health funds – $2,326
Federal Impact Aid (unrestricted) – $30,000
Medi-Cal Administrative Activities (MAA) - $35,000
Medi-Cal Option Billing (grant thru YCOE) - $30,000
OTHER STATE REVENUE
Economic Impact Aid $25,945 $25,949
$118 $124.25 per
Annual ADA
$23.75 $30
per Annual ADA
Prop 20 Lottery
Funds –
$5,716 FY 11-12
$32,220 FY 1213
$24,486
Lottery (unrestricted)
- $5,578 FY 11-12
$133,176 FY 12-13
$121,658
Tier III Categoricals and
other State Revenue $264,962 $265,058
Home-to-School - $28,526 $23,378
Home-to-School SPED - $19,429 $24,581
Class-Size Reduction
K-3 - $457,317
$450,000
Transportation $47,955 $47,959
TIER III CATEGORICAL FLEXIBILITY
Education Code Section 42605 allows complete flexibility in the use of funds
appropriated in the State budget for fiscal years 2008-09 through 2014-15 for
numerous programs and can be used for any educational purpose. Grants included in
this flexibility are:
Closed Programs:
•Administrator Training - $4,849
•Art and Music Block Grant - $15,116 $15,115
•California Peer Assistance & Review Program - $5,148
•CAHSEE Intensive Instruction - $800
•Community Based English Tutoring- $4,478
•Math and Reading Professional Development - $9,018
•Professional Development Block Grant - $11,597
•School Safety and Violence Prevention - $7,990
•Supplemental Hourly Programs - $24,143
•Targeted Instructional Improvement - $4,433 $3,914
TIER III CATEGORICAL FLEXIBILITY (CONTINUED)
Closed Programs (continued)
• Deferred Maintenance - $33,464 – funding is transferred to Routine Restricted Maintenance
• Gifted and Talented Education – $66,473
• School Library Improvement Block Grant - $10,437
• Programs closed but operating with original intent of program
•
Instructional Materials Funding Realignment Program - $56,862 $56,959 funding is used to purchase approved curriculum
• Routine Restricted Maintenance – flexibility to transfer one percent of
expenditures (previously was three percent of General Fund expenditures)
•
Current contribution budgeted is $269,184
•
Three percent of expenditures is $251,124
OTHER LOCAL REVENUE AND OTHER FINANCING
SOURCES
Other Local Revenue
 Interest Earnings - $22,200 $28,200
 Leases and Rentals – $41,024 $35,219
 Other revenue $9,977 $9,800
 Bus Fees - $13,000
 Sp Ed Transfer from YCOE – $384,326 $392,686
 YCOE adjusted based on SELPA-wide ADA
 YCOE used 2011-12 P2 ADA
 District will make adjustments at Second Interim
Other Financing Sources
 Interfund Transfers In - $26,300 (From Fund 52 for CFD Admin costs)
REVENUE SOURCES
Revenue Source
2012-13
Budget
2012-13
First Interim
Variance
Notes
Revenue Limit
Sources
$6,115,414
$6,166,424
$51,010
0.8%
Adjusted RL ADA
Federal
Revenue
$196,670
$281,780
$85,110
43.3%
Adjusted Title I and Title II funding
Other State
Revenue
$935,110
$972,870
$37,760
4%
Adjusted Class Size Reduction
and Lottery
Other Local
Revenue
$478,905
$470,527
($8,378)
(1.7%)
Adjusted Interest, SELPA funding,
and rentals/leases
Interfund
Transfers In
$26,300
$26,300
Total Revenue
$7,752,399
$7,917,901
$165,502
2.1%
NEW ONGOING COSTS FOR 2012-13
Counselor – 1 Full-time Equivalent (FTE)
Utility Worker (Grounds/Maintenance) – 1 FTE
Classroom Teachers – 2 FTE
Transitional Kindergarten Paraprofessional - 0.8125
FTE
SALARIES AND BENEFITS
Category
2012-13
Budget
Adoption
2012-13 First
Interim
Change
Note
Certificated
$3,820,902
$3,768,088
($52,814)
(1.4%)
Adjusted salaries to actual contracts (column
movement,/new hires) and removed academic
coach salary
Classified
$1,299,005
$1,317,261
$18,256
1.4%
Added para salary and adjusted clerical and
support staff salaries
Benefits
$1,648,662
$1,604,153
($44,509)
(2.7%)
District contribution:
STRS
$313,428
$311,030
($2,398)
8.25%
PERS
$136,997
$139,662
$2,665
11.417%
OASDI/Medicare
$150,711
$143,599
($7,112)
6.2%/1.45%
Based on salaries after pre-tax deductions
Health
$869,689
$834,482
($35,207)
$10,000 per FTE
Based on actual monthly contribution
Unemployment
$66,544
$62,459
($4,085)
1.1%
Based on salaries after pre-tax deductions
Worker’s Comp
$93,860
$96,693
$2,833
1.9% - rate finalized after budget development
PERS
Reduction/Other
$17,433
$16,228
($1,205)
PERS 1.603%
Adjusted other benefits
BOOKS AND SUPPLIES
Category
2012-13
Budget
Adoption
2012-13 First
Interim
Change
Note
Approved Textbooks
and Core Curricula
Materials
$84,497
$82,616
($1,881)
Adjusted for workbooks
Books and other
reference materials
$10,028
$10,540
$512
Materials and
supplies
$205,292
$238,153
$32,861
Added Title I, materials for
trainings and site
adjustments
Non-capitalized
Equipment
$54,200
$70,357
$16,157
Added Title I -SmartBoards
for Riverside
Total
$354,017
$401,666
$47,649
SERVICES AND OTHER OPERATING EXPENDITURES
Category
2012-13
Budget
2012-13 First Change
Interim
Notes
Subagreements
$70,450
$75,450
$5,000
Adjusted for contracts over
$25,000
Travel and Conferences
$41,435
$46,603
$5,168
Adjusted for trainings
Dues and Memberships
$5,150
$4,435
($715)
Insurance
$86,953
$85,510
($1,443)
Adjusted to actuals
Ops/Housekeeping
$268,320
$268,320
Rentals/Leases
$81,050
$83,635
$2,585
Adjusted for copiers and
FMOT repairs
Directs Costs Interfund
($34,220)
($35,634)
($1,414)
Consulting/Professional
$382,036
$441,330
$59,294
Communications
$50,921
$50,921
Total
$952,095
$1,020,570
$68,475
Added Title I expenditures
and trainings
OTHER OUTGO
Category
2012-13 Budget
2012-13 First
Interim
Change
Payments to County
Offices
$266,500
$266,500
0
Debt Service
$6,600
$6,600
0
Transfers of Indirect Fund 13
($9,492)
($9,618)
($126) – based on
Fund 13 expenditures
EXPENDITURES
2012-13 Budget
Adoption
2012-13 First
Interim
Change
Notes
Certificated Staff
$3,820,902
$3,768,088
($52,814)
Adjusted salaries to contracts and
removed academic coach
Classified Salaries
$1,299,005
$1,317,261
$18,256
Added TK para salary and
adjusted to contracts
Employee Benefits
$1,648,662
$1,604,153
($44,509)
Adjusted to salaries and for pretax deductions
Books and Supplies
$354,017
$401,666
$47,649
Added Title I expenditures and
added for professional
development
Services/Op Expenses
$952,095
$1,020,570
$68,475
Added Title I expenditures and
added for professional
development
Other Outgo
$273,100
$273,100
Indirect
($9,492)
($9,618)
($126)
Based on Fund 13 expenditures
Interfund Transfers Out
$18,927
$21,880
$2,953
Contribution to Fund 13
Total Expenditures
$8,357,216
$8,397,100
$39,884
CONTRIBUTIONS TO RESTRICTED PROGRAMS
Category
Transportation
Routine Restricted
Maintenance
Special Education
$60,955
No State Funding
$456,809
Revenue
State Aid
RL transfer (SPED only)
Total Revenue
$30,534
$60,955
$487,343
Expenditures
Certificated Staff
$325,047
Classified Staff
$42,694
$131,971
$238,010
Benefits
$17,308
$55,624
$173,252
Materials & Supplies
$30,000
$43,604
$2,300
Services & Other Operating Expenditures
$10,963
$15,578
$77,443
SPED Transportation Costs
$30,000
Excess Program Costs/Indirect
$266,500
$9,920
$22,407
$95,015
Total Expenditures
$140,885
$269,184
$1,177,567
Contributions from unrestricted
resources
$79,330
$269,184
$690,224
GENERAL FUND REVENUE AND EXPENDITURES
Category
2012-13 Budget
Development
2012-13 First Interim
Beginning Balance
$2,969,364
$3,077,693
Revenue
$7,752,399
$7,917,900
Expenditures
$8,357,216
$8,397,100
Net Increase/Decrease
($604,817)
($479,200)
Ending Fund Balance
$2,364,547
$2,598,493
$416,914
$418,540
$5,100
$5,100
$12,927
$59,426
Committed - COP Debt Service
$474,603
$410,188
Assigned- Charter ADA
$186,511
0
Assigned - Salary Increase
$115,355
$115,355
Revenue Limit Per ADA Reductions
$457,321
0
$35,639
0
$660,177
$1,589,886
Economic Uncertainty
Revolving Cash
Restricted Funds
Lottery
Available for budget shortfalls
MULTI-YEAR PROJECTIONS (MYP) BUDGET ASSUMPTIONS
2012-13 First Interim
2013-14
Projection
2014-15
Projection
Statutory COLA
3.24%
2.00% 2.50%
2.30% 2.70%
Deficit Factor
22.272%
$0.77728 per $1.00
22.272%
$0.77728 per $1.00
22.272%
$0.77728 per $1.00
Revenue Limit (RL) w/ COLA
RL w/ deficit
Loss per ADA
$6,912.36
$5,372,84
$1,539.52
$7,041.36
$5,473.11
$1,568.25
$7,192.36
$5,590.48
$1,601.88
State Categorical Programs
COLA
0
0
2.30%
Ed Jobs Funds ($222,813 final
$12,506
0
0
Federal Funds COLA
0
0
0
Average Daily Attendance (ADA)
1040 K-8 plus 6.42
County = 1046.42
1040 K-8 plus 6.42
County = 1046.42
1040 K-8 plus 6.42
County = 1046.42
Lottery Base
Lottery Prop 20
$124.25
$30.00
$124.25
$30.00
$124.25
$30.00
2.30%
2.5%
entitlement)
California Consumer Price Index
MYP BUDGET ASSUMPTIONS (CONTINUED)
Salaries and Benefits:
 No changes to staffing
 Included step increase for all eligible employees
 No changes to statutory benefits
 Health, Dental, Vision contribution – based on current contributions
Adjusted for one-time expenditures for textbooks and TK start-up;
Fund Balance Reserves:
 Reserves for Economic Uncertainty – Five percent of expenditures
 Committed one COP (COP REFI) debt service payment in reserves
 Assigned funds for salary increase in 2012-13
MULTI-YEAR PROJECTIONS
2012-13 First Interim
2013-14 Projection
2014-15 Projection
Beginning Fund Balance
$3,077,693
$2,598,493
$2,077,653
Revenue
$7,917,900
$8,004,147
$8,161,053
Expenditures
$8,397,100
$8,524,987
$8,688,528
Net Increase (Decrease) in Fund
Balance
($479,200)
($520,840)
($527,475)
Ending Fund Balance
$2,598,493
$2,077,653
$1,550,179
Revolving Fund & Restricted
$64,526
$64,526
$64,526
Commitment- COP
$410,188
$410,188
$408,788
Reserved for Economic
Uncertainty
$418,540
$426,249
$434,426
Assignment - Salary Increases
$115,355
Available for budget shortfalls
$1,589,886
$1,176,691
$642,439
CASH
Deferrals continue to be a concern – we monitor cash
closely every month and will continue to do so
throughout the year:
We will be receiving a balloon payment in June. No
information on timing of payment, which is a
concern.
State has eliminated a couple of deferrals (January
payments moved to December; No March deferral)
Current cash balance in county treasurer for the
General Fund - $1,992,243 (as of October 31, 2012)
FUND 13 - CAFETERIA FUND
Category
2012-13
Budget
2012-13 First
Interim
Beginning Balance
$500 $1.00
500.00
Revenue
$410,600
$410,600
Expenditures
$429,527
$432,480
Net Increase (Decrease) in
Fund Balance
($18,927)
($21,880)
Transfer In (From General
Fund)
$18,927
$21,880
Ending Balance
$500 $1.00
500.00
Change
Notes
$2,953
Adjusted salaries to
actual contracts
-
$2,953
FUND 14 - DEFERRED MAINTENANCE
Category
2012-13 Budget
2012-13 First
Interim
Beginning Balance
$100,139 $100,205
$100,139
Revenue
$1,500
$1,500
Expenditures
$15,000
$15,000
Net Increase (Decrease) in
Fund Balance
($13,500)
($13,500)
Ending Fund Balance
$86,639
$86,639
Committed – Deferred
Maintenance
$86,639
$86,639
Notes
Interest Earnings
on cash at County
FUND 25 ASSUMPTIONS AND SUMMARY
Revenue
 Developer Fees:
Developer Impact Fees Collected
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
$27K
$196K
$250K
$239K
$170K
$47,145
(YTD)
 Interest earnings - $450
 Certificates of Participation 2012 - Refinanced CFD #1 Series 2007 BAN - $3,705,000
 Certificates of Participation 2012 REFI – Refinanced COP Series 2007 $6,580,000
Expenditures
 Debt Service Payments
 COP 2012 Series 2007 - $6,705,751
 COP 2012 BAN REFI - Interest only payment = $94,586
 COP 2012 COP REFI - $75,988
 Consulting fees - $21,500 for fee study, disclosures, trustee fees and developer negotiations
FUND 25 – CAPITAL FACILITIES FUND
Category
2012-13 Budget
2013-14 MYP
2014-15 MYP
Beginning Balance
$518,966 $500,713
$876,984
$876,984
$47,605
$450
$450
$10,285,000
0
0
$106,577
$63,125
$583,250
$581,851
$10,502,307
$583,700
$582.300
$688,957 (includes closing cost
of Refi’s)
$21,500
$21,500
$6,705,751 COP 2007 payoff
$75,988 COP REFI
$94,586 BAN REFI
$410,188 COP REFI
$152,013 BAN REFI
$408,788 COP REFI
$152,013 BAN REFI
$2,579,007 (Fund 52 for CFD 1
2007 Refi)
0
0
Total Expenditures
$10,144,289
$583,700
$582,300
Net Increase (Decrease) in Fund Balance
$358,018
($0.27)
0
Ending Fund Balance
$876,984
$876,984
$876,984
$25,010
$25,010
$25,010
$851,974
$851,974
$851,974
Revenue
Impact Fees & Interest
Refinancing of COP and CFD
Transfer from Fund 52 for COP
Transfer from Fund 52 for REFI
Total Revenue
Expenditures
Services/Other Operating
Debt Service
Interfund Transfers Out
Cash w/ fiscal agent
Assigned for Land Purchase from County
FUND 52 ASSUMPTIONS AND SUMMARY
• Revenue
•
•
Community Facilities District (CFD) Mello Roos taxes are collected in January and June:
• CFD #1 - $320 per home annual for total of $506,560
• CFD #2 - $400 per home annual for total of $170,000 (increase of 14 homes)
Interest earnings for cash at county and cash with fiscal agent - $5,770
• Expenditures
•
•
Report fees - $600
Debt Service payments
• CFD #1-2005- Principal and Interest debt service payment $306,075
• CFD #2 2007- Principal and Interest debt service payment $86,938
• CFD #1 2007- Principal and Interest debt service payment $$2,579,007
• Transfers to other Funds:
• Transfer to Fund 25 for COP payments - $106,577
• Transfer to Fund 25 for REFI CFD #1 Series 2007 - $63,125
• Transfer to Fund 01 for CFD Administrative Costs - $26,300
FUND 52 – DEBT SERVICE FUND
Category
2012-13 Budget
2013-14 MYP
2014-15 MYP
Beginning Balance
$1,021,873 $994,763
$1,114,588
$789,056
$682,330
$682,010
$682,010
$3,261,337
$682,010
$682,010
$600
$600
$600
Revenue
Mello Roos and Interest
Transfer from Fund 25
Total Revenue
$2,579,007
Expenditures
Other services
CFD #1 Series 2007 Payoff
$2,579,007
CFD #1 Series 2005
$306,075
$306,720
$307,050
CFD #2 Series 2007
$86,938
$90,672
$89,266
$26,300 (Fund 01 – CFD Admin)
$63,125 (Fund 52 – CFD 1 payoff)
$106,577 (Fund 52 – COP Debt service)
$26,300
$583,250
$26,300
$581,850
Total Expenditures
$3,168,622
$1,007,542
$1,005,067
Net Increase (Decrease)
$92,715
($325,532)
($323,057
Ending Fund Balance
$1,114,588
$789,056
$465,999
Cash w/ fiscal agent
$402,656
$402,656
$402,656
Assigned – Debt Service
$711,932
$386,399
$63,343
Transfers Out (Fund 01 and 25)
SUMMARY AND RECOMMENDATION
•
We have lost millions in State Aid since the state budget crisis began in 2008-09::
•
•
•
•
•
2012-13 - $1.6M (projected)
2011-12 - $1,4M
2010-11 - $1.2M
2009-10 - $1.2M
2008-09 - $487K
 District will be deficit spending in the current budget year and two subsequent years.
 District has managed the budget through the State financial crisis and has sufficient fund
balance to help deal with the fifth year of this budget crisis.
 Based on multi-year projections and current assumptions staff recommend the Board
approve First Interim with a positive certification and the budget adjustments within.
ANY QUESTIONS?