First Interim Report - Palm Springs Unified School

Report
Palm Springs
Unified School District
2013-14 Adopted Budget
OE-5 Compliance Summary
Annual Budget prepared and presented:

1.
2.
3.
4.
5.
6.
7.
8.
2
In summary format for each District fund
Clear description of revenues and expenditures
Includes current year estimates, budget year and multiyear
projections
Provides assumption data
Budget developed to assure fiscal soundness in future years
Reflects salary adjustments
Limits expenditures
Includes fund balance of no less than 3% of the General Fund
State Budget News
A Budget deal has been reached – no signature yet
Local Control Funding Formula agreement but the details are
unknown
$4.6 million in LCFF funding projected for 2013-14
Strong Revenues reported for May
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


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Revenues up $939 million or 17.4% over projections
Local Control Accountability Plan

3
Implementation expected by June 2014
PSUSD Budget Highlights

PSUSD Adopted Budget is based on assumptions in the
May Revise plus a portion of LCFF

Adjustments will be required per AB 1200 within 45 days
after the State Budget is signed by the Governor

1% salary increase included in Fund Balance assignments
Adopted Budget Revenue Assumptions
2013-14
Adopted
Projected ADA
2014-15
2015-16
Projected
Projected
21,313
21,278
21,278
0
-35
0
PSUSD Revenue Limit
$6,913.54
$7,038.14
$7,194.14
Revenue Limit Deficit
.810030
.810030
.810030
$5,600.17
$5,701.10
$5,827.47
Revenue Limit COLA
1.565%
1.80%
2.20%
Estimated Statewide Average Revenue Limit
$6,853
$6,976
$7,130
$932,046
$3,213,339
$5,053,862
0%
0%
0%
$124.00
$124.00
$124.00
$30.00
$30.00
$30.00
ADA Growth/Decline from prior year
PSUSD Revenue Limit after deficit
LCFF Revenues Included
Other State Revenues
Lottery Revenues – unrestricted
Lottery Revenues – restricted Prop 20
5
Adopted Budget Expenditure Assumptions
2013-14
Adopted
2014-15
2015-16
Projected
Projected
Step and Column Costs
Included
$1,964,097
$2,002,988
Additional Certificated Staff
20.6 FTE
12 FTE
13 FTE
$500,000
$500,000
Included
$275,828
$284,749
$0
$125,000
$0
Utility Increases
Included
$154,603
$158,468
Rancho Mirage HS additional costs
Included
$263,864
$263,864
Expenditure increases (student supplies, etc)
Included
$69,699
$71,446
Estimated Retirement Savings
Additional staff development day 2013-14
Fringe Benefits adjustments
Election Costs
6
$500,000
2013-14 Multiyear Projection - Unrestricted
Description
Total Revenues
2013-14
2014-15
2015-16
$133,609,675
$138,443,311
$145,729,049
($130,757,604)
($134,101,174)
($135,939,067)
INCREASE (DECREASE)
$2,852,071
$4,342,137
$9,789,982
Other Sources
$3,854,500
$2,554,500
$2,554,500
($1,029,345)
($1,029,345)
($1,029,345)
($10,144,354)
($9,816,625)
($10,144,353)
Net INCREASE (DECREASE)
($4,467,128)
($3,949,333)
$1,170,784
Beg Balance, July 1 (estimated)
$18,069,224
$13,602,096
$9,652,763
Ending Balance, June 30
$13,602,096
$9,652,763
$10,823,547
$270,000
$270,000
$270,000
Unassigned - Economic Uncertainties 3%
$6,007,641
$5,823,717
$5,897,205
Board Designated (1% Salary Increase)
$1,200,000
$2,400,000
$3,600,000
Assigned – MAA and Lottery
$1,932,856
$0
$0
Estimated Excess/(Shortfall)
7
$4,191,599
$1,159,046
$1,056,342
Total Expenditures
Other Uses
Contributions
Revolving Cash/Stores
2013-14 Multiyear Projection - Restricted
Description
Total Revenues
2013-14
2014-15
2015-16
$48,739,461
$48,804,625
$48,895,079
Total Expenditures
($67,534,621)
($58,060,227)
($58,671,946)
INCREASE (DECREASE)
($18,795,160)
($9,255,602)
($9,776,868)
$90,000
$90,000
$90,000
($933,145)
($933,145)
($933,145)
Contributions
$10,144,354
$9,816,625
$10,144,354
Net INCREASE (DECREASE)
($9,493,951)
($282,122)
($475,659)
Beg Balance, July 1 (estimated)
$41,441,819
$31,947,868
$31,665,746
Ending Balance, June 30
$31,947,868
$31,665,746
$31,190,088
Other Sources
Other Uses
8
2013-14 Multiyear Projection - Combined
Description
Total Revenues
2013-14
2014-15
2015-16
$182,349,136
187,247,936
194,624,128
($198,292,225)
($192,161,400)
($194,611,014)
($15,943,089)
($4,913,464)
$13,114
$3,944,500
$2,644,500
$2,644,500
($1,962,490)
($1,962,490)
($1,962,490)
$0
$0
$0
($13,961,079)
($4,231,454)
$695,124
Beg Balance, July 1 (estimated)
$59,511,043
$45,549,964
$41,318,510
Ending Balance, June 30
$45,549,964
$41,318,510
$42,013,634
Total Expenditures
INCREASE (DECREASE)
Other Sources
Other Uses
Contributions
Net INCREASE (DECREASE)
9
Thousands
Unrestricted Ending Fund Balances
$30,000
$25,000
$20,000
$16,459
$9,859
$15,000
$10,000
$16,518
$10,192
$6,712
$9,368
$0
$7,697
$1,401
$1,286
$1,995
$1,401
$1,401
$2,943
$3,334
$6,361
$5,870
$0
$4,795
$4,040
$5,742
$5,636
$5,392
$5,250
$1,933
$5,000
$6,068
$0
$6,288
$6,107
$6,278
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Estimated
Board Desig
OPEB
Carryover
Required
Thousands
Restricted Ending Fund Balances
$45,000
$1,491
$40,000
$35,000
$11,906
$30,000
$25,000
$5,000
$0
$2,557
$11,027
$517
$39,951
Other
Redev
$1,590
$32,148
$15,000
$10,000
$7,118
$40,879
$20,000
11
$563
$31,215
$31,430
$26,610
$20,078
$15,286
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Estimated
2013-14 Unrestricted Expenditures
5.6%
2.6%
Certificated Salaries
91.9%
Classified Salaries
25.3%
53.1%
Employee Benefits
Supplies
13.5%
Services & Other
TOTAL - $130,757,604
Unrestricted Salaries and Benefits
as a percent of total unrestricted budget
Year
Certificated
Classified
Benefits
Total
Expenditures
%
2007-08
$76,610,564
$16,474,477
$30,877,339
$137,160,841
90.38%
2008-09
$80,218,738
$17,990,234
$32,358,449
$148,164,904
88.12%
2009-10
$71,213,580
$17,127,190
$30,283,987
$132,410,718
89.59%
2010-11
$64,602,259
$16,004,522
$28,441,715
$120,138,172
90.77%
2011-12
$65,250,758
$16,460,806
$30,073,383
$123,547,505
90.50%
Year
ADA
2007-08
22,704
2008-09
22,832
2009-10
22,452
2010-11
21,494
2011-12
21,515
13
Salaries and benefits continue to make
up approximately 90% of PSUSD’s
unrestricted general fund budget.
Cielo Vista Charter School is reported separately
beginning Fiscal Year 2010-11
2013-14 Total Expenditures
12.9%
Certificated Salaries
79.7%
7.4%
43.9%
22.1%
Classified Salaries
Employee Benefits
Supplies
Services & Other
13.7%
TOTAL - $198,292,225
Total Salaries and Benefits
as a percent of total budget
Year
Certificated
Classified
Benefits
Total
Expenditures
%
2007-08
$95,458,873
$25,596,679
$39,884,661
$160,940,213
81.15%
2008-09
$97,857,563
$27,112,563
$41,570,807
$198,594,944
83.85%
2009-10
$91,343,968
$26,272,385
$40,575,364
$186,948,997
84.62%
2010-11
$86,589,463
25,337,551
$39,768,609
$180,838,726
83.88%
2011-12
$84,361,810
$25,512,250
$40,864,243
$177,357,889
84.99%
Year
ADA
2007-08
22,704
2008-09
22,832
2009-10
22,452
2010-11
21,494
2011-12
21,515
Total salaries and benefits continue to
make up approximately 84% of PSUSD’s
General Fund Budget.
Cielo Vista Charter School is reported
separately beginning Fiscal Year 2010-11
15
Other Funds
Description
2013-14
Budgeted
Revenues
2013-14
Budgeted
Expenditures
2013-14
Increase
(Decrease)
Beginning
Balance
Ending
Balance
Charter School Fund 09
$4,734,555
($4,595,862)
$138,693
$2,217,462
$2,356,155
Adult Education Fund 11
$70,955
($70,955)
$0
$0
$0
$2,613,115
($2,613,115)
$0
$0
$0
$14,358,131
($14,687,007)
($328,876)
$5,482,186
$5,153,310
$818,095
($1,921,000)
($1,102,905)
$1,917,193
$814,288
Special Reserve Fund 17
$47,000
($3,800,000)
($3,753,000)
$12,549,110
$8,796,110
Building Fund 21
$50,000
($38,000,287)
($37,950,287)
41,099,279
$3,148,992
$1,575,000
($6,815,652)
($5,240,652)
16,843,476
$11,602,824
$0
$0
$0
$0
$0
$10,000
($409,652)
($399,652)
$2,708,721
$2,309,069
$0
$0
$0
$29,254,761
$29,254,761
Child Development Fund 12
Cafeteria Fund 13
Deferred Maintenance Fund 14
Capital Facilities Fund 25
County School Facilities Fund 35
Special Reserve Fund 40
Bond Interest and Redemption Fund
51
16
Self Insurance Funds
Description
2013-14
Budgeted
Revenues and
Sources
2013-14
Budgeted
Expenditures
and Uses
2013-14
Increase
(Decrease)
Beginning
Balance
Ending
Balance
Workers Comp (67)
$5,253,501
($2,523,073)
$2,730,428
($3,172,801)
($442,373)
OPEB (68)
$1,865,438
($1,865,438)
$0
$7,085,991
$7,085,991
Property & Liability (69)
$1,029,845
($1,123,047)
($93,202)
$93,202
$0
Total Funds
$8,148,784
($5,511,558)
$2,637,226
$4,006,392
$6,643,618
17
OE-5 Compliance Review

Annual Budget prepared and presented:
1.
2.
3.
4.
5.
6.
7.
8.
18
In summary format for each District fund
Clear description of revenues and expenditures
Includes current year estimates, budget year and multiyear
projections
Provides assumption data
Budget developed to assure fiscal soundness in future years
Reflects salary adjustments
Contains conservative assumptions
Includes fund balance of no less than 3% of the General Fund
Budget Adoption and OE-5 Compliance



Recommendation:
Adopt 2013-14 Budget as presented
Accept OE-5 as presented

CEO certifies that information presented is
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
19
Accurate and complete
In compliance

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