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Palm Springs Unified School District

Palm Springs Unified School District. 2013-14 Adopted Budget. OE-5 Compliance Summary. Annual Budget prepared and presented: In summary format for each District fund Clear description of revenues and expenditures Includes current year estimates, budget year and multiyear projections

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Palm Springs Unified School District

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  1. Palm Springs Unified School District 2013-14 Adopted Budget

  2. OE-5 Compliance Summary • Annual Budget prepared and presented: • In summary format for each District fund • Clear description of revenues and expenditures • Includes current year estimates, budget year and multiyear projections • Provides assumption data • Budget developed to assure fiscal soundness in future years • Reflects salary adjustments • Limits expenditures • Includes fund balance of no less than 3% of the General Fund

  3. State Budget News • A Budget deal has been reached – no signature yet • Local Control Funding Formula agreement but the details are unknown • $4.6 million in LCFF funding projected for 2013-14 • Strong Revenues reported for May • Revenues up $939 million or 17.4% over projections • Local Control Accountability Plan • Implementation expected by June 2014

  4. PSUSD Budget Highlights • PSUSD Adopted Budget is based on assumptions in the May Revise plus a portion of LCFF • Adjustments willbe required per AB 1200 within 45 days after the State Budget is signed by the Governor • 1% salary increase included in Fund Balance assignments

  5. Adopted Budget Revenue Assumptions

  6. Adopted Budget Expenditure Assumptions

  7. 2013-14 Multiyear Projection - Unrestricted

  8. 2013-14 Multiyear Projection - Restricted

  9. 2013-14 Multiyear Projection - Combined

  10. Unrestricted Ending Fund Balances

  11. Restricted Ending Fund Balances

  12. 2013-14 Unrestricted Expenditures TOTAL - $130,757,604

  13. Unrestricted Salaries and Benefits as a percent of total unrestricted budget Salaries and benefits continue to make up approximately 90% of PSUSD’s unrestricted general fund budget. Cielo Vista Charter School is reported separately beginning Fiscal Year 2010-11

  14. 2013-14 Total Expenditures TOTAL - $198,292,225

  15. Total Salaries and Benefits as a percent of total budget Total salaries and benefits continue to make up approximately 84% of PSUSD’s General Fund Budget. Cielo Vista Charter School is reported separately beginning Fiscal Year 2010-11

  16. Other Funds

  17. Self Insurance Funds

  18. OE-5 Compliance Review • Annual Budget prepared and presented: • In summary format for each District fund • Clear description of revenues and expenditures • Includes current year estimates, budget year and multiyear projections • Provides assumption data • Budget developed to assure fiscal soundness in future years • Reflects salary adjustments • Contains conservative assumptions • Includes fund balance of no less than 3% of the General Fund

  19. Budget Adoption and OE-5 Compliance • Recommendation: • Adopt 2013-14 Budget as presented • Accept OE-5 as presented • CEO certifies that information presented is • Accurate and complete • In compliance

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