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Executive Summary

The General Fund Unrestricted Ending Fund Balance will once again provide limited resources this year These additional resources will provide opportunities to cover purchase order carryovers, sites/department carryovers, required changes and the Lockeford K-8 conversion. $2,121,392.

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Executive Summary

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  1. The General Fund Unrestricted Ending Fund Balance will once again provide limited resources this year These additional resources will provide opportunities to cover purchase order carryovers, sites/department carryovers, required changes and the Lockeford K-8 conversion $2,121,392 Executive Summary • Designated Uses • Other Designated Ending Balances • Tier III Categorical Programs continue to be treated as Unrestricted Funds but operated as individual Programs 1,028,735 5,018,378 • The Adopted General Fund Unrestricted Ending Fund Balance was 18,713,634 • Total General Fund Unrestricted Ending Fund Balance $26,882,139

  2. Unaudited Actuals Financial Report Fiscal Year 2009 - 2010 Board Meeting September 21, 2010 Prepared by: Douglas Barge Maria Fong Carrie Hargis Y: Business Services/Board Agenda/2010-11/B09-21-10/ Unaudited Actuals Financial Report B09-21-10

  3. Table of Content • Introduction 1 • Overview 2 – 3 • Unrestricted Ending Fund Balance: 4 • Summary of Changes • 2009/10 Ending Fund Balance: 5 • Restricted General Fund • All Other Funds: Ending Fund Balance 6 • Recommendation 7 ii

  4. Introduction • Our Accounting Department has finished posting all the 2009/10 entries for fiscal year and closed the books. • The results of their work are summarized in the “Unaudited Actuals Financial Report” and it is being presented for certification. • This is a requirement of Education Code Section 42100 • After Board approval (certification), the report will be forwarded to San Joaquin County Office of Education for transmittal to Superintendent of Public Instruction (State) • The next step will be for the auditors to return and review this data and provide the Board with a report on their findings. 1

  5. Overview • General Fund Ending Balances has dropped $10,546,723 from the previous year. • Restricted Ending Balance dropped $7,455,545 because: - American Recovery and Reinvestment Act (ARRA) funds were utilized - State funding Reductions • Unrestricted Ending Balance dropped $3,091,178 due to: - Loss of Revenue Limit resources - Declining enrollment • The cash dropped by more than half to $11,117,882. This was caused by: - Spending down of the ARRA funds - Further payment deferrals by the State • This report has passed all of the technical checks required by the State 2

  6. Overview The Unaudited Actual Report shows the District has: • Complied with required percent of current cost of education expended for classroom compensation • Required 55.00% • Actual 63.60% • Met the maintenance of effort for No Child Left Behind • Calculated the indirect cost rate for use in 2011-12 • The rate will be 6.70%, subject to California Department of Education (CDE) approval • Provided for the General Reserve requirements the State demands 3

  7. Unrestricted Ending Fund Balance Summary of Changes I. AVAILABLE 2010/11 BEGINNING BALANCE $2,121,392 II. Designated Uses • Other designated Ending Balances $ 1,028,735 2. Tier III Categorical ResourcesWill continue to operate as Categorical 5,018,378 $ 8,168,505 III. TOTAL CHANGE FROM ADOPTED 4

  8. 2009/10 Ending Fund BalanceRestricted General Fund 2010/11 2009/10 Adopted Ending Budget Balance Description Difference $690,975 $690,975 ARRA: State Fiscal Stabilization Fund 356,284 Medi-Cal Billing Option 356,284 563,435 982,604 419,169 Lottery: Instructional Materials Special Education 634,465 634,465 295,592 871,352 Economic Impact Aid (EIA) 575,760 48,023 782,122 Economic Impact Aid: Limited English Proficiency (LEP) 830,145 Quality Education Investment Act - QEIA 1,496,677 2,008,060 511,383 Other State 333,017 333,017 80,418 999,246 918,828 Routine Restricted Maintenance - RRM Other Local 16,195 322,428 306,233 333,017 $2,500,340 $8,028,576 $5,528,236 5

  9. 2010/11 2009/10 Adopted Ending Balance Difference Budget All Other Funds Ending Fund Balance Description Other Operating Funds Adult Education Fund (11) Child Development fund (12) Cafeteria Fund (13) Deferred Maintenance fund (14) Self-Insurance Fund (67) Self-Insurance Fund – OPEB (68) $ 1,354,596 634,990 5,333,991 703,126 7,433,559 (1,117,858) 10,252,637 2,611,627 4,982,308 18,435,892 6,692,368 5,449,745 3,807,422 75,813 $ 938,593 629,590 6,530,410 1,891,494 9,943,304 (393,482) 10,724,002 2,499,237 4,760,806 29,213,863 7,385,543 7,291,632 5,028,303 384,513 $ (416,003) (5,400) 1,196,419 1,188,368 2,509,745 724,376 471,365 (112,390) (221,502) 10,777,971 693,175 1,841,887 1,220,881 308,700 Construction Funds Building Fund (21) Building Fund #2 (22) Capital Facilities Fund (25) School Facilities Fund (35) Special Reserve Fund (40) Debt Services Funds Bond Interest & Redemption Fund (51) Debt Service Fund (56) Charter School Fund (09) 6

  10. Recommendation • Staff recommends approval of the 2009/10 Unaudited Actuals Financial Report 7

  11. The End

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