Redwood City School District...March 2018: 2017-18 2nd May 2018: Governor’s 2018-19 Revised Proposal 2017-18 2018-19 2 2016-17 What is Unaudited Actuals? •Year end closing and

RedwoodCitySchoolDistrict

2016-17UnauditedActual

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TheBudgetCycleJune2017:2017-18

BudgetAdopted

September2017:2016-17Year-End

Report

December2017:2017-181st Interim

Report

January2018:Governor’s2018-19BudgetProposed

March2018:2017-182nd Interim

Report

May2018:Governor’s

2018-19RevisedProposal

2017-18

2018-19

2

2016-17

WhatisUnauditedActuals?

• Yearendclosingandfinancialstatementpreparation

• ShowshowmuchmoneywasActually receivedandspentduring2016-17

• Finalendingbalancewillbeusedasthebeginningfundbalancefor2017-18

• WillbereviewedbySanMateoCountyOfficeofEducationandauditedbyindependentauditors

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HighlightsoftheUnauditedActuals

• TotalEndingFundBalancehasimprovedby$1.39Million:

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IncreasesinUnrestrictedRevenues:

LCFFChangeinFinalStateBudget $137,492MAARevenuesReceivedAfterEstimatedActuals 122,955LocalRevenues,WC,ChartersOversight,etc. 77,313OtherRevenues 46,868

TotalChangesinRevenues $384,628

DecreaseinUnrestrictedExpenditures:OnetimeFundsandSiteCarryovers $504,269OtherDecreaseinExpenses,Vacancies,etc. 268,245

TotalChangesinExpenditures $772,515

DecreaseinContribution:LessContributiontoSpecialEducation $420,153MoreContributiontoAfterSchoolPrograms (234,452)LessContributiontoMedi-CalBil l ingOption 73,066MoreContributiontoFamilyCenters (26,913)MoreContributiontoCrossingGuards (608)

TotalChangesinContribution $231,246

TotalchangesinEndingFundBalanceSinceEstimatedActuals $1,388,389

SOURCESOFGENERALFUNDREVENUE

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LCFFBase:PropertyTax41%

LCFFBase:EducationProtectionAccount

1%

LCFFBase:RemainingasaStateAid23%

LCFFSupplementalandConcentration

10%

SpecialEducation

PropertyTax4%

FederalRevenues5%

OtherStateRevenues6%

LocalRevenues/InterfundTransferIn

6%

MeasureW2%

Lottery2%

HowDidweSpendtheDistrictGeneralFund?

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CategoryInstructionInstruction Related ServicesPupil ServicesCommunity ServicesGeneral AdministrationPlant ServicesOther Outgo Mainly for students receiving services at the County

ExamplesClassroom personnel cost, Instructional materials, supplies and servicesPrincipals, Vice principals, Curriculum Administration, Program Specialist, Library Techs, Technology Techs…etc.Counselors, Outreach specialist, Psychologist, Nurses, Bus Drivers, Admin Secretaries, Director of Pupil ServicesCrossing Guards, Community School ExpensesMainly District Office staff and Other expensesMaintenance and Operations

Instruction,64%

InstructionRelatedServices,14%

PupilServices,5%

CommunityServices,1%

GeneralAdministration,5%

PlantServices,10% OtherOutgo,1%

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UnrestrictedSpecial

EducationCategoricalPrograms

Total

A) REVENUESRevenueLimit/LCFF-BaseGrant $64,305,053 $4,216,841 $0 $68,521,894LCFF-Supplemental/ConcentrationGrant 9731340 0 0 9,731,340Federa l Revenues 122955 1785324 3205473 5,113,752OtherStateRevenues 3143028 52514 1943762 5,139,304STRSStateContribution 0 0 2224400 2,224,400Parcel TaxRevenue(MeasureW) 0 0 1523261 1,523,261Local Revenues 1,157,639 325,811 4,418,628 5,902,078

TOTALREVENUES $78,460,016 $6,380,490 $13,315,523 $98,156,029B) EXPENDITURES

Certi ficatedSa laries $31,968,808 $5,011,302 $3,164,242 $40,144,352Class i fiedSa laries 10,617,908 4,665,370 1,496,987 16,780,264EmployeeBenefi ts 14,219,596 3,478,022 1,381,275 19,078,894STRSStateContribution 0 0 2,224,400 2,224,400Books andSuppl ies 1,779,029 153,591 1,198,081 3,130,701Services andOperatingExpenses 5,611,466 5,358,138 4,340,611 15,310,214Capita l Outlay 181,020 0 12,140 193,160OtherOutgo 321,227 499,675 0 820,902DirectSupport/IndirectCosts (1,183,140) 684,588 130,713 (367,839)

TOTALEXPENDITURES $63,515,914 $19,850,686 $13,948,448 $97,315,049

C)

$14,944,102 ($13,470,196) ($632,925) $840,980D) OTHERFINANCINGSOURCES/USES

InterfundTransferIn $0 $0 $0 $0InterfundTransferOut 547,617 0 0 547,617OtherSources 0 0 0 0Contributions/Flexibi l i tyTransfers (13,863,929) 13,470,196 393,733 (0)

($14,411,546) $13,470,196 $393,733 ($547,617)E) NETINCREASE(DECREASE)

INFUNDBALANCE $532,556 $0 ($239,193) $293,363F) BEGINNINGFUNDBALANCE $9,897,921 $0 $1,106,690 $11,004,612G) ENDINGFUNDBALANCE $10,430,477 $0 $867,498 $11,297,975H) COMPONENTSOFENDINGFUNDBALANCE

a) Des ignatedfor:RevolvingCash $75,000 $0 $0 $75,000Stores/PrepaidExpenditures 84,917 0 3,469 88,386CarryoverforUnspentFunds 504,269 0 864,029 1,368,298Ass ignedforFutureLanguageArts Books Adoption 1,441,987 0 0 1,441,987Ass ignedforFoodServiceAuditFindingPaybacktoFund13 893,932 0 0 893,932Tota l Des ignations $3,000,105 $0 $867,498 $3,867,603

b) Reserve:StateMandatedReserve(3%) $2,935,880 $0 $0 $2,935,880Ass ignedforBoardMandatedReserve 2,935,880 0 0 2,935,880Unass ignedReserve 1,558,612 0 0 1,558,612Tota l Reserve($) $7,430,372 $0 $0 $7,430,372Tota l Reserve(%) 7.59% 0.00% 0.00% 7.59%

ENDINGFUNDBALANCE(a+b) $10,430,477 $0 $867,498 $11,297,975

REDWOODCITYSCHOOLDISTRICT

GENERALFUNDSUMMARY(FUND01)REVENUE,EXPENDITURES&CHANGESINFUNDBALANCE

2016-17UnauditedActuals

EXCESS(DEFICIENCY)OFREVENUESOVEREXPENDITURESBEFOREOTHERFINANCINGSOURCESANDUSES

TOTALOTHERFINANCINGSOURCES/USES

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GeneralFund

ChildDevelopment

FundCafeteriaFund

DeferredMaintenance

FundBuildingFund

CapitalFacilitiesFund

SpecialReserveFundForCapitalOutlay

TotalDistrictBudget

FundNumber F01 F12 F13 F14 F21 F25 F41A) REVENUES

RevenueLimitSources $68,521,894 $0 $0 $0 $0 $0 $0 $68,521,894LCFF- 9,731,340 0 0 0 0 0 0 9,731,340Federa l Revenues 5,113,752 282,941 3,616,906 0 0 0 0 9,013,599OtherStateRevenues 7,363,704 3,607,525 271,580 0 0 0 0 11,242,809Local Revenues 7,425,339 528,971 690,603 (357) 468,490 3,138,007 18,938 12,269,990

TOTALREVENUES $98,156,029 $4,419,437 $4,579,089 ($357) $468,490 $3,138,007 $18,938 $110,779,632B) EXPENDITURES

Certi ficatedSa laries $40,144,352 $1,340,098 $0 $0 $0 $0 $0 $41,484,450Class i fiedSa laries 16,780,264 1,586,006 1,453,070 62,198 155,799 63 0 20,037,400EmployeeBenefi ts 21,303,294 1,165,800 600,932 22,493 51,775 15 0 23,144,308Books andSuppl ies 3,130,701 124,732 1,632,563 3,599 2,260 0 0 4,893,856Services andOperatingExpenses 15,310,214 432,409 534,970 0 109,782 65,841 0 16,453,216Capita l Outlay 193,160 0 234,501 0 2,520,119 169,356 0 3,117,136OtherOutgo 820,902 0 0 0 0 0 0 820,902DirectSupport/IndirectCosts (367,839) 198,422 169,416 0 0 0 0 (0)

TOTALEXPENDITURES $97,315,049 $4,847,467 $4,625,452 $88,290 $2,839,735 $235,275 $0 $109,951,268

C)$840,980 ($428,031) ($46,363) ($88,647) ($2,371,245) $2,902,732 $18,938 $828,364

D) OTHERFINANCINGSOURCES/USESInterfundTransferIn $0 $0 $547,617 $88,647 $0 $241,201 $0 $877,465InterfundTransferOut 547,617 0 0 0 241,201 88,647 0 877,466OtherSources 0 0 0 0 59,765,000 0 0 59,765,000Contributions (0) 0 0 0 0 0 0 (0)

($547,617) $0 $547,617 $88,647 $59,523,799 $152,553 $0 $59,765,000

E) $293,363 ($428,031) $501,254 $0 $57,152,554 $3,055,285 $18,938 $60,593,363F) BEGINNINGFUNDBALANCE $11,004,612 $428,406 $1,500,790 $0 $0 $12,076,493 $1,991,001 $27,001,301G) ENDINGFUNDBALANCE $11,297,975 $375 $2,002,044 $0 $57,152,554 $15,131,778 $2,009,939 $87,594,664H) COMPONENTSOFENDINGFUNDBALANCE

a) Des ignatedfor:RevolvingCash $75,000 $0 $0 $0 $0 $0 $0 $75,000Stores/PrepaidExpenditures 88,386 0 31,636 0 7,083 0 0 127,106Legal lyRestrictedRoutine 0 0 0 0 0 0 0 0CarryoverofUnspentFunds 1,368,298 0 0 0 0 0 0 1,368,298OtherDes ignations 2,335,919 375 1,970,407 0 57,145,470 15,131,778 2,009,939 78,593,889Tota l Des ignations $3,867,603 $375 $2,002,044 $0 $57,152,554 $15,131,778 $2,009,939 $80,164,293

b) Reserve:StateMandatedReserve(3%) $2,935,880 $0 $0 $0 $0 $0 $0 $2,935,880Ass ignedforBoardMandated 2,935,880 0 0 0 0 0 0 2,935,880Unass ignedReserve 1,558,612 0 0 0 0 0 0 1,558,612Tota l Reserve($) $7,430,372 $0 $0 $0 $0 $0 $0 $7,430,372Tota l Reserve(%) 7.59% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.59%

ENDINGFUNDBALANCE(a+b) $11,297,975 $375 $2,002,044 $0 $57,152,554 $15,131,778 $2,009,939 $87,594,664

REDWOODCITYSCHOOLDISTRICTREVENUE,EXPENDITURES&CHANGESINFUNDBALANCE-ALLFUNDS

2016-17UnauditedActuals

EXCESS(DEFICIENCY)OFREVENUESOVEREXPENDITURESBEFOREFINANCINGSOURCESANDUSES

TOTALOTHERFINANCINGSOURCES/USESNETINCREASE(DECREASE)INFUNDBALANCE

StayTuned…

• FirstInterimBudget(December2017)– ChangeintheBeginningBalance– ChangesinPersonnelCostsincetheApprovedBudget

– ChangesinRevenuesCalculation(andtheImpactoftheDecliningEnrollment)

– UpdatedMulti-yearProjectionsforfutureyears– UpdatedCashFlow

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Questions?

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