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SAN DIEGO UNIFIED SCHOOL DISTRICT

SAN DIEGO UNIFIED SCHOOL DISTRICT. Unaudited Actuals Financial Report Fiscal Year 2012/13 Board of Education Presentation September 3 , 2013. Overview. Purpose: Brief the Board on the Unaudited Actuals for Fiscal Year 2012/13

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SAN DIEGO UNIFIED SCHOOL DISTRICT

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  1. SAN DIEGO UNIFIED SCHOOL DISTRICT Unaudited Actuals Financial Report Fiscal Year 2012/13 Boardof Education Presentation September 3, 2013

  2. Overview • Purpose: Brief the Board on the Unaudited Actuals for Fiscal Year 2012/13 • Intention: Highlight Notable Changes and Comparative Data • Bottom Line: • 2012/13 General Fund Total Beginning Balance was $98.4 Mil • General Fund Total Ending Balance is $74.7 Mil • General Fund – Unrestricted (GFU) Unaudited Actuals Ending Balance is $57.6 Mil • Restricted General Fund Ending Balance is $17.0 Mil • $34.0 Mil of Ending Balance is Designated for Specific Purposes • The Original 2013/14 GFU Adopted Budget Beginning Balance was $60.3 Mil • Recommendation: The Board Approve the 2012/13 Unaudited Actuals and Submit to the San Diego County Office of Education by September 15 as Required by the CA Education Code

  3. Total General Fund2012/13 Unaudited Actuals *** $18 Mil Reduction Due to Common Core Revenue Deferred Until Received in 2013/14 Per County Office of Education Guidance

  4. 2012/13 ExpendituresGeneral Fund($’s in Millions) $1,085.8 Mil (Excludes Reserves)

  5. General Fund-Unrestricted2012/13 Unaudited Actuals

  6. General Fund-Restricted2012/13 Unaudited Actuals

  7. 2012/13 General Fund -Unrestricted Significant Revenue Variances • ($1.5) Mil Decrease in Revenue Limit Income Due to the Increase in Transfers to Charter Schools in Lieu of Property Taxes • $7.6 Mil Increase in Federal Impact Aid Received for 2010, 2011, and 2012 Claims for Section 8002 (Land) • $1.0 Mil Additional State Revenues Received for Lottery and Mandate Block Grant • $0.7 Mil Other Local Revenue from Contributions Received by Schools and Leases & Rentals

  8. 2012/13 General Fund- Unrestricted Expenditure and Ending Balance Variances • $5.2 Mil Increase in Certificated Salaries Due to the Accrual of the 2012/13 Retroactive Salary Payment Per Agreement with SDEA • $7.3 Mil Increase in Employee Benefits Due to the Reclassification of the Medical and Dental Liability Account Reconciliation Adjustment to the Beginning Balance Restatement Account • $10.0 Mil Decrease in Contributions Due to Program Savings in Special Education - Vacancy Savings, Transportation, Contracted Services and Tuition for Non-Public Schools • $3.7 Mil Increase in Required Reserves for Set Asides Due to Increase in Schools’ Carryover Balances and Other Pending Liabilities

  9. 2012/13 Ending BalancesAll Funds* *For Individual Fund Detail, Please Review SACS Report

  10. Noteworthy: Child Development(Fund 12) • 2012/13 Unaudited Actuals Ending Balance $0.02 Mil • Expenditures Exceeded Revenues by ($1.4) Mil • Required Contribution from General Fund Unrestricted • Ongoing Enrollment Challenges • Revenue from the State is Based on Enrollment • Program has Required a General Fund Contribution • 2011/12 - $1.3 Mil • 2010/11- $2.8 Mil (Due to Uncollected Receivable) • Planned Repayment to General Fund Unrestricted

  11. Noteworthy: Cafeteria(Fund 13) • 2012/13 Unaudited Ending Balance: $2.6 Mil • Includes $0.9M GFU Reimbursement per District’s Agreement with CDE in Response to CRE Review • Ongoing Discussion with CDE Regarding Cafeteria Fund Audit Findings • Reliance on General Fund-Unrestricted (GFU) for Cash Flow Needs • Fund has Total Assets of $19 Mil with $10 Mil in Receivable from the Federal Government, $8 Mil in Cash and $1 Mil in Other Assets • Owes GFU $15.9 Mil as of 6/30/13 • Fund has Reimbursed GFU for Payroll Through January and District Services Through May

  12. Noteworthy: County School Facilities(Fund 35) • Also Known as State School Facilities Fund • 2012/13 Ending Balance: $126.0 Mil • Preserving Ending Balances for • Loans to GFU for Cash Flow Needs • TRANs Alternate Liquidity • 2013/14 GFU Projected Cash Flow Requires $30 Mil to Cover State Deferrals

  13. Noteworthy: Special Reserve Fund For Capital Outlay Projects (Fund 40) • Fund 40 Unaudited Actuals Ending Balance: $3.6 Mil • Balboa Stadium Ending Balance: $0.2 Mil • Property Management Fund Ending Balance: $0.6 Mil • Revenues from Property Rentals: $7.5 Mil • Transferred Landscapers to Redevelopment Agencies Fund • Nurses for American with Disabilities Act Section 504 Compliance Transferred to GFU • Continue to Fund Deputy Superintendent of Business Staff and Other Property Management Support Staff • Facilities Master Plan Fund Ending Balance:$0.1 Mil • Barnard Sale Generated $16.5 Mil in Revenue • Mesa Middle College Construction Fund Ending Balance: $2.7 Mil • $2.0 Mil to be Used in 2013/14 as GFU Budget Solution

  14. Uncertainties and Emergent Needs • Areas of Concern • Collective Bargaining • Early Childhood Development Program Needs • Staffing of Schools • Impact of Health and Welfare Affordable Care Act • Results of Attrition Model Budget Solution • Real Estate Sales • Three Year Budget Plan • Ongoing Assessment of Impact • LCFF and Accountability Regulations Development

  15. Next Steps • The District’s External Auditors Will Independently Review and Audit These Financial Data to Validate: • Accuracy • Compliance with • Generally Accepted Accounting Principles (GAAP) • Governmental Accounting Standards Board (GASB) • CA School Accounting Manual (CSAM) • Funding Requirements and Regulations • As Required by the CA Education Code the Audited Financial Report and External Auditor’s Report Will Be Presented to the Board in December 2013

  16. Recommended Action • Staff Recommends that the Board Approve the 2012/13 Unaudited Actuals and Submit to the San Diego County Office of Education as Required by Law

  17. Questions?

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