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Board of Education Budget Meeting

Board of Education Budget Meeting. November 16, 2010. Workshop Overview. The Purpose : Review Current Fiscal Realities Review and Take Action on Solutions to Close General Fund Unrestricted Budget Deficit Provide a Timeline for Board Actions and Implementation of Reductions. 2. 2.

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Board of Education Budget Meeting

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  1. Board of Education Budget Meeting November 16, 2010

  2. Workshop Overview • The Purpose: • Review Current Fiscal Realities • Review and Take Action on Solutions to Close General Fund Unrestricted Budget Deficit • Provide a Timeline for Board Actions and Implementation of Reductions 2 2

  3. Review of the Realities • LAO has Reported that State Budget is Worse Than Previously Communicated • Governor has Called Special Session to Address Current Year Budget Concerns • Mid Year Reductions are Possible • Federal Jobs Funding is Incorporated into Current Deficit Resolution • State Budget Categorical Flexibilities will Terminate after 2011/12 3 3

  4. Review of the Realities(cont’d) • Our Challenges: • Make Difficult Decisions in Limited Amount of Time • Implement Balanced Budget that • Eliminates Deficit Spending • Achieves Required Reserve Levels • Unified Leadership is Critical • Decisions will Adversely Impact Students and Classroom Instruction • Prudent Resource Allocations are Essential • Current Financial Decisions Impact Future Financial Stability 4 4 4

  5. Budget Reduction Implementation Timeline 5 5 5

  6. Key Assumptions • Baseline Current Deficit $ (141.6)M • Federal Jobs Bill Fund (One-time Only) $ 21.0M • Projected Deficit as of November 16, 2010 $ (120.6)M • Potential Impacts to the Budget • Changes to Fund Balance 1st Interim $ (TBD) • Excess Staffing • Transportation Parent Pay Fees • State Approved Budget $ 30.1M • Final ARRA SFSF Funding $ 4.0M • Mandates (Non-School Portion) $ 1.7M 6 6 6

  7. Site Based Reductions of $44.5 Million • District-wide Parameters to be Established • Area Superintendents Will Work with Principals Within Cluster to Determine Reductions • Schools Will Take Advantage of Sharing Resources Across Cluster • Reductions Need to be Identified by January 7 7 7

  8. Central Office (10%) Reductions of $5.2 Million • District-wide Parameters to be Established • Consolidation of Departments to be Considered • Resources that Provide Services to Schools to be Given Priority • Reductions Need to be Identified by January 8 8 8

  9. Solutions to the General Fund Unrestricted Deficit 9 9

  10. Solutions to the General Fund Unrestricted Deficit(cont’d.) 10 10

  11. Solutions to the General Fund Unrestricted Deficit(cont’d.) 11 11 11

  12. Questions? 12 12 12

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