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Pursuant to AB 1200,
the Governing Board must receive and review the
quarterly report for the period ending January 31,
2016 in order to certify the District’s ability to
meet its financial obligations for the remainder of
the current fiscal year and its multi-year
financial commitments. To make such a
determination, cash and fund balance projections
must be included as part of the report. (See
the Second Interim Report.)
The attached report addresses the current status of
the District’s operating funds and projections of
income and expense for all of 2015-2016 based on
the State budget and other information available as
of January 31, 2016.
The Unrestricted General Fund
(Projected Years Totals) reflects changes to the
adopted budget in the following categories:
-
Total revenue
has increased by $433,922.
-
Total
expenditures have increased by
$1,408,310. There is an increase in
employee benefits expenditures and funding for
text books, computers, and professional
development. The certificated salaries
decreased due to leaves/retirements and a drop
in enrollment.
-
Total Other
Financing Sources (Contributions) have
increased by $643,248 due to transferring out
to Building fund and Debt Service fund.
The Restricted General Fund
reflects changes to the adopted budget in the
following categories:
-
The total
restricted revenue has decreased by $379,303
due to final apportions to specific
programs.
-
The total
restricted expenditures have been increased by
$714,463. The increase is spread across
expenditure categories.
-
Contributions
have increased by $143,248 to offset increases
in expenditures. Transfers out has been
increased by $350,000 due to transferring out
to Building fund Prop 39 Solar project.
The Total General Fund Ending
Balance (Column D) is projected to be
$12,980,464. This includes reserves for:
Revolving cash
$10,000
Prepaid expenditures
$20,000
Legally Restricted
Balance $3,639,324
Other Assignments
$3,036,000
Economic
uncertainties $2,772,005
Total Reserves
$9,477,329
Undesignated
Fund Balance $3,503,136
NARRATIVE FOR OTHER FUNDS
Fund 12 Child
Development Fund: - $1,800,426
Projected fund
balance is positive.
Fund 13 Cafeteria
Fund: - $1,619,960
Projected fund
balance is positive.
Fund 17 Special
Reserve Fund: - $53,018
Projected fund
balance is positive.
Fund 21 Building
Fund: - $22,890,947
Projected fund
balance is positive.
Fund 25 Capital
Facilities Fund: - $874,399
Developer
fees. Projected fund balance is
positive.
Fund 56 Debt
Service Fund: - $9,270,666
Central kitchen debt
payment. Projected fund balance is
positive.
Fund 63 Other
Enterprise Fund: - $709,589
Response to
Instruction & Intervention. Projected fund balance
is positive.
Fund 67
Self-Insurance Fund: - $199,328
Projected fund
balance is positive.
Fund 71 Retiree
Benefit Fund: - $2,790,562
GASB 45 Trust with
Cal PERS, fund balance is positive.
Based upon information presented in the Interim
Report, it is recommended that the Governing Board
determine the District can meet its financial
obligations and certify the same.
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