Liberty Union High School District 20 Oak Street Brentwood, CA 94513 Phone: 925.634.2166 Fax (925) 634-1687 TO: Superintendent and Board Members FROM: Liz Robbins DATE: September 13, 2017 RE: 2016-17 Unaudited Actuals Attached for your review is a copy of the Unaudited Actuals (UA) for fiscal year ending 2016-17. This report is presentation of the District’s financial status as of June 30, 2017. This has been another year of positive revenue growth for education with continued implementation of the Local Control Funding Formula (LCFF). LCFF Supplemental Funds expenditures in the amount of $2,721,099 are reflected as part of the total expenditures of the District. These expenditures have been budgeted in the Local Control Accountability Plan district designated resource 0787. This resource tracks the LCAP goal expenditures for students participating in the Free and Reduced Lunch program as well as English Learners, Homeless and students in Foster Family Homes. Many of the LCAP goals were fully implemented and is reflected in the expenditures for this fiscal year end. ESTIMATED ACTUALS vs. UNAUDITED ACTUALS Each year districts are required to include an estimate of the Ending Fund Balance in the Budget Adoption process. I have summarized below the variance of what was the 2016-17 Estimated Actuals at 2017-18 Budget Adoption and where the District ended with the 2016-17 Unaudited Actuals for the General Fund. The largest variance to our ending fund balance was an increase to Restricted Revenue due to unanticipated RDA and LCFF Property Tax Transfer revenue in the amount of $328K and $132K respectively. On the Unrestricted side, interest income and facility rentals revenue were approximately $225K higher and expenditures were lower by $1M than expected primarily due to carryover of one time funds of $517K as well as lower phone and textbook $355K and repairs $63K and capital equipment $115K expenditures. Ending Fund Balance Comparison ESTIMATED UNAUDITED ACTUALS VARIANCE Unrestricted $ 7,853,637 $ 8,811,822 $ 958,482 Restricted $ 4,424,734 $ 5,266,982 $ 842,248 Totals $ 12,278,371 $ 14,078,804 $ 1,800,730 INCLUDED IN YOUR PACKET: Two page Certification, Form CA Power Point Summary of 2016-17 Unaudited Actuals One page summary worksheet for the General Fund Estimated and Unaudited Actuals Summary of Components of 2016-17 Ending Fund Balance ADA for 2016-17 UA and 2017-18 Budget and other SACS Supplemental forms Formal SACS forms A one page summary of all other funds All information listed above is presented in the order of appearance in your packet and begin just after the two page certification Form CA. BOARD ACTION REQUESTED: Approval of the 2016-17 Unaudited Actual report as presented.
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Liberty Union High School District 20 Oak Street
Brentwood, CA 94513 Phone: 925.634.2166 Fax (925) 634-1687
TO: Superintendent and Board Members FROM: Liz Robbins DATE: September 13, 2017
RE: 2016-17 Unaudited Actuals
Attached for your review is a copy of the Unaudited Actuals (UA) for fiscal year ending 2016-17. This report is presentation of the District’s financial status as of June 30, 2017. This has been another year of positive revenue growth for education with continued implementation of the Local Control Funding Formula (LCFF). LCFF Supplemental Funds expenditures in the amount of $2,721,099 are reflected as part of the total expenditures of the District. These expenditures have been budgeted in the Local Control Accountability Plan district designated resource 0787. This resource tracks the LCAP goal expenditures for students participating in the Free and Reduced Lunch program as well as English Learners, Homeless and students in Foster Family Homes. Many of the LCAP goals were fully implemented and is reflected in the expenditures for this fiscal year end. ESTIMATED ACTUALS vs. UNAUDITED ACTUALS Each year districts are required to include an estimate of the Ending Fund Balance in the Budget Adoption process. I have summarized below the variance of what was the 2016-17 Estimated Actuals at 2017-18 Budget Adoption and where the District ended with the 2016-17 Unaudited Actuals for the General Fund. The largest variance to our ending fund balance was an increase to Restricted Revenue due to unanticipated RDA and LCFF Property Tax Transfer revenue in the amount of $328K and $132K respectively. On the Unrestricted side, interest income and facility rentals revenue were approximately $225K higher and expenditures were lower by $1M than expected primarily due to carryover of one time funds of $517K as well as lower phone and textbook $355K and repairs $63K and capital equipment $115K expenditures.
Ending Fund Balance Comparison ESTIMATED UNAUDITED ACTUALS VARIANCE Unrestricted $ 7,853,637 $ 8,811,822 $ 958,482 Restricted $ 4,424,734 $ 5,266,982 $ 842,248 Totals $ 12,278,371 $ 14,078,804 $ 1,800,730
INCLUDED IN YOUR PACKET:
Two page Certification, Form CA Power Point Summary of 2016-17 Unaudited Actuals One page summary worksheet for the General Fund Estimated and Unaudited Actuals Summary of Components of 2016-17 Ending Fund Balance ADA for 2016-17 UA and 2017-18 Budget and other SACS Supplemental forms Formal SACS forms A one page summary of all other funds
All information listed above is presented in the order of appearance in your packet and begin just after the two page certification Form CA. BOARD ACTION REQUESTED: Approval of the 2016-17 Unaudited Actual report as presented.
• 8,1992016‐17 Calpads
Enrollment
• LUHSD 7,724.07
• COE 49.05
• Total 7,773.75
2016‐17
ADA
94.21 % of enrollment
EFB‐UA Restricted
$5,266,981 (6.27% of Exp)
EFB ‐ UA UnRestricted
$8,811,822 (10.48% of Exp)
EFB ‐UA Total
$14,078,803 (16.75% of Exp)
Restricted EFB Increase from EA
$432,522
UnRestricted EFB Increase from EA
$1,368,207
Restricted Changes
• Increase Restricted Revenue ‐ Restricted Property Tax for SPED $133K, RDA $328K, all other $96K
• Decrease Restricted Expenditures ‐ ($125K)
Unrestricted Changes
• Increase Revenue ‐ LCFF $67K, Interest $100K, Lease/Rntls $125K
• Decrease in overall Expenditures ‐ One time ($517K), Phone exp ($171K), Textbooks ($184K), Capital Equip ($115), Repairs ($63K)
2016‐17 Unaudited Actual Summary
2016‐17 Ending Fund Balance (EFB) Unaudited Actuals (UA) compared to Estimated Actuals (EA)
2016‐17 Unaudited Actuals EFB Summary Legally Restricted Programs $ 5,266,982 6.27%
Economic Uncertainty $ 4,203,232 5.00%
Locally Restricted ‐Site $ 113,634 0.14%
Technology $ 1,500,000 1.78%
One Time Carryover $ 517,335 0.62%
Supplemental LCAP $ 1,000,000 1.19%
Undesignated $ 1,477,620 1.76%
TOTAL EFB $ 14,078,803 16.75%
6.27%, Legally Restricted Programs,
$5,266,982
5.00%, Economic Uncertainty, $4,203,232
0.14%, Locally Restricted ‐Site & Revolving, $113,634
1.78%, Technology, $1,500,000
0.62%, One Time Carryover, $517,335
1.19%, Supplemental
LCAP, $1,000,000
1.76%, Undesignated, $1,477,620
Legally Restricted Programs Economic Uncertainty
Locally Restricted ‐Site & Revolving Technology
One Time Carryover Supplemental LCAP
Undesignated
Shown as % of Total General Fund Expenditures $84,064,625
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