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Bonsall Union School District FY 2009-10 Unaudited Actuals Summary

Bonsall Union School District FY 2009-10 Unaudited Actuals Summary. September 9, 2010. 2009-10 Unaudited Actuals. Summary Revenue Limit Per ADA funding of $4,754 22.5% reduction due to deficit funding ($6,103 target) Property Tax Revenue of $4.5M

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Bonsall Union School District FY 2009-10 Unaudited Actuals Summary

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  1. Bonsall Union School DistrictFY 2009-10 Unaudited ActualsSummary September 9, 2010

  2. 2009-10 Unaudited Actuals Summary • Revenue Limit Per ADA funding of $4,754 • 22.5% reduction due to deficit funding ($6,103 target) • Property Tax Revenue of $4.5M • $500,000 or approx. a 10% reduction from prior year • General Fund Average Monthly Expenditure of $1,114,648 ($13,375,778 total) • Unrestricted Reserves of $2,058,801 after one-month of payroll

  3. 2009-10 Unaudited Actuals Summary (continued): • Operational Deficit of $180,673 • One-Time Federal Stimulus Funds of $535,378 received during the year • Without Stimulus Funds, district would have realized a $716,378 deficit • Average Daily Attendance (ADA) of 1,763 in General Fund, Growth of 62 ADA for the year • Expenditure Reductions of $930,358, or 6.5%, in FY 2009-10 vs. FY 2008-09 ($14.3M vs $13.4M) • 4 Day Work Furloughs for all district staff • Reduced amount of Xfers to other funds

  4. 2009-10 Unaudited Actuals Program Notes: • Bright Spot: Nutrition Services (Fund 13) finished year with a $36,675 Balance • $123,941 Turn-Around from prior year!! • Home-To-School (HTS) Transportation finished year with a balanced budget • Special Ed Transportation operated at a $73,508 deficit

  5. 2009-10 Unaudited Actuals Program Notes (continued): • Vivian Banks Charter School operated the year with a $12,745 deficit • Special Education Programs received contribution of $170,838 from General Fund. • Contribution for 2009-10 reduced by $332K for year due to the Federal ARRA Funds received for Special Education (contribution in FY 08-09 was $503,000)

  6. 2009-10 Unaudited Actuals - Ending Balance Projections Note: FY 10-11 Does NOT include an adjustment for Federal Jobs Bill $’s $200K Deficit $700K Deficit Reserve for Cash Flow $800K Deficit

  7. Bonsall Union School DistrictFY 2010-11 through FY 2012-13 Projected Deficit Spending Break-Even Goal: Balanced Budget Goal of $250K Deficit Goal of $500K Deficit

  8. 2009-10 Unaudited Actuals Next Steps • Approve FY 2009-10 Unaudited Actuals • Independent financial audit in October 2010 • Update district budgets with latest enrollment data • Begin negotiations for FY 2011-12 to continue “glide path” to no deficit spending by FY 12-13 • Still no state budget and no progress in the process • Federal “Jobs Bill” (HR 1586) passed into law. Hopefully, this will provide added funds to the district • However, we must wait and quantify impact to district of state budget once budget is authorized/approved. ($19Billion Deficit)

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