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2013-2014 Unaudited Actuals

This report provides an overview of the unaudited actuals for the FY14 fund balance, including major changes, contributing factors to the increased fund balance, and details on other funds.

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2013-2014 Unaudited Actuals

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  1. 2013-2014 Unaudited Actuals September 9, 2014 Anna Pimentel Director, Fiscal Services Ken Forrest Chief Business Officer

  2. General Fund

  3. General Fund – Ending Fund Balance

  4. FY 14 – Major Changes • Change in funding formula from revenue limit to Local Control Funding Formula – 5.40% • Buys down deficit over time • $3.46 million categorical funds rolled into formula • 24 categorical funding streams • Programs maintained moving forward – Instructional Materials, Deferred Maintenance, Home-to-School and Special Education transportation, Class size reduction • Common Core State Standards - $1.098 million • California Clean Energy Jobs Act - $130,000

  5. Contributing Factors toIncreased Fund Balance • Instructional Materials budgeted but unspent - $1.2 million • Roofing Projects transfer to Deferred Maintenance Fund - $579,820 • Lower costs: • Certificated Salaries - $149,000 • Utilities - $89,104 • Legal fees – $33,704 • Consultants - $77,516 • Other Services - $160,123

  6. Other Funds • Cafeteria Fund – Reduction of $28,858 due to increased food costs, administrative FTE and reduced a la carte sales at secondary • Deferred Maintenance, Building Fund and Construction Fund – major maintenance included re-roofing projects at Cambridge and Vanden High School

  7. Other Funds (Continued) • Other Post Employment Benefits Fund – minimal activity. Will need to provide for contributions in near future per GASB 45 actuarial report. • Capital Facilities Fund – minimal activity. This fund provided cash flow support in prior years. The library project, funded by developer fees, is the primary activity in this fund.

  8. Other Funds (continued) • Special Reserve for Capital Outlay Projects – minimal activity. Future Scandia Elementary modernization project/activity will be maintained in this fund. • Community Facility District Funds – CFD#2 saw increased housing permit activity of $1.134M in addition to Mello Roos taxes. CFD #1 activity limited to Mello Roos taxes.

  9. Other Funds (Continued) • Scholarship Fund – Multiple scholarships were awarded this school year. • Pupil Transportation Equipment Fund –Purchased 5 new buses with Bay Area Air Quality Management Grant.

  10. Negative / Qualified / PositiveStatus History

  11. Fund Balance Limitation LCFF

  12. Fund Balance Limitation LCFF

  13. Fund Balance Limitation LCFF

  14. Fund Balance Limitation LCFF

  15. Gann Limit Forecasted

  16. Questions?

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