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Chico Unified School District Cash Flow Update November 18, 2009

Chico Unified School District Cash Flow Update November 18, 2009. Presented by. Jan Combes Assistant Superintendent, Business Services. 2009-10 Projected Cash Flow. 2010 Projected Cash Flow. EVENTS TO DATE. August – November, 2009:

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Chico Unified School District Cash Flow Update November 18, 2009

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  1. Chico Unified School District Cash Flow UpdateNovember 18, 2009 Presented by Jan CombesAssistant Superintendent, Business Services

  2. 2009-10 Projected Cash Flow

  3. 2010 Projected Cash Flow

  4. EVENTS TO DATE August – November, 2009: • Aug 26: BCOE mentions potential for needing a state emergency apportionment in their Annual Report • Sept 23: Fiscal Advisor discusses timeline • Oct 21: FCMAT representative addresses Board • Oct 25: FCMAT declares CUSD a fiscal emergency • Nov 18: CUSD presents updated cash flow information to the Board

  5. NEXT STEPS December 2009: • Dec 2nd CUSD will present updated 1st Interim Financial report • First 2 weeks: FCMAT will conduct an independent review to verify potential need and “size” of the emergency January, 2010: • Governor releases 2010-11 budget • CUSD Board passes resolution requesting emergency apportionment if potential need is upheld by FCMAT review

  6. Spring, 2010 January/February/March 2010 • Local legislator introduces emergency bill • Testimony begins in Sacramento ~ FCMAT, CDE, BCOE and CUSD are involved in testimony • CUSD budget is updated in March (2nd Interim Report) April/May/June 2010 • Governor’s “May Revise” • CUSD “3rd Interim” and preliminary 2010-11 Budget • CUSD adopts 2010-11 in June

  7. Summer, 2010 • State Legislature sends State Budget to Governor for Signature (July?) • Governor signs bill for emergency apportionment (July) • CUSD makes first draw on emergency apportionment to make August payroll

  8. What Could Change • Mid Year Cuts in January could make situation worse • Changes due to impact of a negotiated agreement with employee groups • Additional federal funds ? • Additional state flexibility ? • Health Plan costs stay the same or increase is less than 9% • Changes in funding for programs out of SFSF-ARRA funds

  9. QUESTIONS FROM THE BOARD

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