Unified School District 2014 – 2015 Unaudited Actuals September 16, 2015 Michael R. Hodson Assistant Superintendent, Business Services
Jan 05, 2016
Walnut Valley Unified School District2014 – 2015
Unaudited Actuals
September 16, 2015
Michael R. HodsonAssistant Superintendent, Business Services
Purpose• Discuss changes to the Estimated Actuals submitted with the
15-16 Budget
• Update the Board on current financial forecast
Unaudited Actuals• Represents the official financial activity for the preceding year.
– Reflects changes from Estimated Actuals projected during budget process
– Incorporates changes into the current year’s budget projections
• WVUSD: minimal variation from predictions– Expenditures projected within less than $73k (.07%)
– Local Revenue exceeded expectations
– Community Club / Boosters - $633k
– Reimbursement from prior year - $263k
– Facility use - $118k
Adjustments to 2015-2016• Beginning Balance* $12.3m (9.5%)
– Net Increase $ 3.6m
– One time funds ($8m?) -----
– Salaries -----
– Deficiencies -----
– Unforeseen events -----
• Projected Ending Balance* $15.9m (12.2%)– Reserve for Economic Uncertainties$ 3.8m
– GAP Reserve $10.2m
* Unrestricted, General Fund
Concerns • Future funding is uncertain at best
– Stock market indices all down by 6% in August
– Prop 30 begins to expire this year
– LCFF disfavors WVUSD
• PERS/STRS increases not supported by additional revenue– $6.1m annual, additional cost, at current payroll, by 20/21
• Legislative Environment’s effects on costs and enrollment
• Revenue estimates include inflation, expense estimates do not
Competing Demands for Resources
• Existing Deficiencies:– Site requirements
– Personnel Reinstatements
– Salaries
– Infrastructure
Summary• Actual expenses were accurately projected in estimates
• Near term prospects are good – Bond, one-time revenue, Prop 98 growth
• Long term outlook presents challenges