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LENNOX SCHOOL DISTRICT 2014-15 Proposed Budget Report to Board of Trustees June 9, 2014

This presentation outlines the proposed budget for the Lennox School District for the 2014-15 fiscal year. It includes goals, assumptions, and projected changes in enrollment. The report also highlights other important items and discusses what to expect next.

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LENNOX SCHOOL DISTRICT 2014-15 Proposed Budget Report to Board of Trustees June 9, 2014

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  1. LENNOX SCHOOL DISTRICT2014-15 Proposed BudgetReport to Board of TrusteesJune 9, 2014 Presentation for the Lennox School Board Juan Navarro, President Angela Fajardo, Vice President Sergio Hernandez Jr., Clerk Shannon Thomas-Allen, Member Mercedes Ibarra, Member Presented By: Kevin Franklin

  2. BUDGET ADOPTION • Education Code (EC) Sections 42127(a) and 42127(a)(2) require the Governing Board of each school district to adopt a budget on or before July 1 and file that budget with the county superintendent of schools. • The Budget can not be approved without an approved LCAP.

  3. Life Cycle of a Budget • Adoption (Budget and LCAP) – June 30th • 45 day Revise – Due 45 days after State budget adopted if significant changes from adoption • 1st Interim – As of Oct 31st, due by Dec 15th • 2nd Interim – As of Jan 31st, due by Mar 15th • 3rd Interim – As of Apr 30th, due by June 30th (qualified or negative certifications) • Unaudited Actuals – As of June 30th, due by Sept 15th

  4. 2014-15 Proposed Budget Goals • Maintain fiscal solvency for proposed year and two subsequent years (Certify Positive if had been required for Budget) • Restore programs and add supplemental support as determined by the LCAP • A balanced budget with expenditures not exceeding revenues (Continue working to eliminate the structural deficit) • District Reserves at 3% for Economic Uncertainties and additional reserves as determined by policy and LCFF gap funding

  5. 2014-15 Proposed Budget Assumptions • Reviewed and produced 2013-14 estimated actuals to create 2014-15 beginning balance • Implemented current LCFF revenue figures • Adjusted for Additional and Temporary Positions proposed for 2014-15 • Adjusted for LCAP for 2014-15 • Class sizes kept at the same ratios as 2013-14 • K-3 Class sizes are already at the LCFF target of 24:1

  6. 2014-15 Proposed Budget Assumptions • Followed LACOErecommendations for COLA (0.85%) and for LCFF gap funding(28.06%). • QEIA Revenue included only for 2014-15 • Enrollment/ADA projected at a loss of 15 for budget year and MYP’s. • Cost of step/column/range changes included in current year and MYP’s. • Increase in CALSTRS and CALPERS contributions per Governor’s May Revise for budget year and MYP’s.

  7. 2015-16 and 2016-17 Proposed Budget Assumptions 2015-16 • Followed LACOE recommendations for COLA (2.19%) and for LCFF gap funding (28.06%). • Loss of QEIA funding (Approx. $2.9M). Replaced with $2.9M LCFF Supplemental and Concentration funding per the LCAP. 2016-17 • Followed LACOE recommendations for COLA (2.14%) and for LCFF gap funding (19.50%).

  8. Past and Projected Enrollment

  9. Change in Enrollment

  10. Summary of Unrestricted General Fund MYP

  11. Other Items of Note • This Budget adoption report does not call for a school district positive, qualified, or negative status report • 2014-15 Current Bargaining Unit Agreements included in projections. District is currently in negotiations with LTA. • LMSTA Estimated Actuals are reported in Fund 09. The 2014-15 LMSTA Budget is reported using their own CDS code and is separate from the District’s budget due to their independence.

  12. Other Items of Note • Cafeteria Fund (Fund 13) revenue increased by $1,282,430 from 2012-13. This is mostly due to an increase in capturing completed meal applications from every family and due to an increase in participation. • The Jefferson ORG project (Fund 35) is projected to be completed by January 2015

  13. What’s Next? • District Negotiations • Submit Adopted Budget and LCAP by July 1, 2014 • Await Governor’s Signature on Signed Budget • Delay in implementation of CALSTRS increases? • Additional gap funding based on LAO projections? • Additional Common Core funding? • Additional slots and elimination of family fees for State Preschool? • COLA of 0.85% for Categoricals outside of LCFF?

  14. Questions?

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