Marysville Joint Unified School District Budget Update 2024 Highlights
Explore the detailed first interim budget update for Marysville Joint Unified School District, focusing on revenue, expenditures, and changes. Insights include revenue comparisons, expenditure adjustments, and fund allocations for various programs.
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Presentation Transcript
Marysville Joint Unified School District First Interim Budget Update Presented to the Board of Trustees on December 10, 2024 By Jen Passaglia, Assistant Superintendent Business Services
First Interim Budget Update Agenda Budget Cycle Unrestricted General Fund Restricted General Fund COVID Relief Funds Learning Recovery Emergency Block Grant (LREBG) General Fund Summary Multi-year projections Next steps
2023-24 Unaudited Actuals 2023-24 2024-25 2025-26 July We Are Here! June December LCAP/ Budget Cycle January April-May March
Unrestricted General Fund Revenue First Interim compared to Adopted Budget Adopted Budget FY 24-25 Revenue 1st Interim FY 24-25 Increase/ (Decrease) (In millions) LCFF Sources $131.7 $132.7 $ 0.9 Federal Revenue $ - $ - $ - Other State Revenue $ 4.0 $ 5.2 $ 1.2 Other Local Revenue $ 0.7 $ 0.7 $ 0.0 TOTAL REVENUE $136.4 $138.6 $2.1
Unrestricted General Fund Change in Revenue $2.1 million Net Increase Local Control Funding Formula (LCFF) - $0.9m Increase TK Enrollment Unduplicated count State Revenue - $1.1m Teacher Residency Grant 2023-24 4th Quarter Lottery
Unrestricted General Fund Expenditures Adopted Budget compared to First Interim Adopted Budget FY 24-25 Expenditures 1st Interim FY 24-25 Increase/ (Decrease) (In $ millions) Certificated Salaries $49.4 $48.9 ($0.5) Classified Salaries $19.5 $17.9 ($1.6) Employee Benefits $29.8 $29.2 ($ 0.6) Books and Supplies $5.4 $5.3 ($ 0.1) Services/Other Operating Expenses $10.1 $11.1 $ 1.0 Capital Outlay $0.1 $1.6 $1.5 Other Outgo $28.1 $28.1 - TOTAL EXPENDITURES $ 142.4 $ 142.1 ($0.3)
Unrestricted General Fund Change in Expenditures ($ 0.3) million Net decrease in Total Expenditures Unrestricted site discretionary carryover (Lottery and Targeted Allocation) Total of $0.9m 2023-24 carryover allocated to sites Salary and Benefit alignment $2.7m decrease to salary and benefits due to moving positions to Restricted General Fund Learning Recovery Emergency Grant Capital Improvements $1.5m increase due to High School Track and Technology projects not completed in 2023-24 Realignment of Indirect Costs from restricted programs Decrease of $1.5m $ 1.5m Increase to Special Education Programs for contract student services (speech and health)
Restricted General Fund Revenue First Interim compared to Adopted Budget Adopted Budget FY 24-25 Revenue 1st Interim FY 24-25 Increase/ (Decrease) (In millions) LCFF Sources $0.0 $0.0 $ 0.0 Federal Revenue $ 8.2 $ 15.1 $6.9 Other State Revenue $ 24.8 $ 21.2 ($3.6) Other Local Revenue $ 8.2 $ 10.3 $ 2.1 Transfers In/Contributions $26.1 $27.6 $ 1.5 TOTAL REVENUE $67.3 $74.2 $6.9
Restricted General Fund Change in Revenue $6.9 million Net Increase Federal Revenue 2024-25 Carryover of $6.9 million ESSER III $3.4 million Other Federal Funds - $3.5 million Title I, II, III, IV Every Student Succeeds Act Comprehensive Support and Improvement Other State Revenue ($3.1) million Decrease Expanded Learning Opportunities Program ($6.6) million Other State Programs 2023-24 Carryover - $3.5 million ASES, UPK, Prop. 20 Lottery, CTEIG, K12 Strong Workforce Program, IEEEP, CCSPP grants
Restricted General Fund Change in Revenue $6.9 million Net Increase cont. Local Revenue - $2.1 million Increase Medi-Cal Billing - $0.9 million Other Local Grants - $1.2 Contributions - $1.5 million Increase contribution to SPED programs Increase in student support resources (speech and health)
Restricted General Fund Expenditures Adopted Budget compared to First Interim Adopted Budget FY 24-25 Expenditures 1st Interim FY 24-25 Increase/ (Decrease) (In $ millions) Certificated Salaries $16.8 $17.5 $ 0.7 Classified Salaries $12.7 $15.1 $ 2.4 Employee Benefits $17.2 $19.2 $ 2.0 Books and Supplies $ 6.4 $13.5 $ 7.1 Services/Other Operating Expenses $ 6.1 $11.3 $5.2 Capital Outlay $ 2.7 $14.8 $12.1 Other Outgo $ 8.1 $10.3 $ 2.2 TOTAL EXPENDITURES $ 70.0 $ 101.7 $ 31.7
Restricted General Fund Change in Expenditures $31.7 million Net Increase to Total Expenditures 2023-24 Carryover Salary & Benefits - $5.1 million Extra Duty - Certificated & Classified Expanded Learning Opportunities, Title funds, COVID Relief Funds Books and Supplies - $7.1 million Services and Other Operating Expenditures - $5.3 million Capital Outlay - $12.1 million (Covillaud Classroom Building & Foothill Modernization Projects) Other Outgo/Transfers Out $2.1 million Bus Financing payment ESSER III $1.0 million Indirect Costs - $ 1.2 million
2024-25 Restricted General Fund COVID Relief Funds Restricted one-time money All ESSER and ELO funds are entirely spent/obligated as of September 30, 2024
2024-25 Restricted General Fund One-Time Funds Bridge from ESSER to Learning Recovery Emergency Block Grant (LREBG) Learning Recovery Total Allocation $13.5 million 2023-24 Carryover $12.8 Plan required beginning 2025-26 Spend by September 30, 2028 2024-25 Budget Allocation - $2.9 million SRO Contracts ORCs Elementary Counselors (3 FTE) Intervention Specialist 0.6 FTE Data and Student Improvement Director Wellness Director (1.0 FTE)
2024-25 General Fund Summary GENERAL FUND Description Unrestricted Restricted Total REVENUES & EXPENDITURES TOTAL BUDGETED REVENUES TOTAL BUDGETED EXPENDITURES EXCESS (DEFICIENCY) OTHER ESTIMATED SOURCES/USES NET INCREASE (DECREASE) ADD: BEGINNING FUND BALANCE 138,538,740 $ 114,464,058 24,074,682 (27,609,793) (3,535,111) 42,051,489 46,596,912 $ 101,764,928 (55,168,016) 27,427,541 (27,740,475) 51,402,004 185,135,652 $ 216,228,986 (31,093,334) (182,252) (31,275,586) 93,453,493 ENDING FUND BALANCE (ESTIMATED) 38,516,378 $ 23,661,529 $ 62,177,907 $
Components of 2024-25 Ending Fund Balance Description Unrestricted Restricted Total Revolving Cash & $472,579 $472,579 Estimated Ending Inventory Restricted 23,661,529 23,661,529 Assignments 31,550,799 31,550,799 Economic Uncertainty 6,493,000 6,493,000 Unassigned/ 0.00 0.00 Unappropriated Total Fund Balance $38,516,377 $23,661,529 $62,177,907
Multi-Year Projections (MYP)
Multi-Year Projection (MYP) Unrestricted General Fund 1st Interim FY 24-25 Projection FY 25-26 Projection FY 26-27 (In $ millions) Beginning Balance July 1 $42.1 $38.5 $35.4 Revenue $138.5 $141.5 $146.3 Expenditures $(114.5) $(116.7) ($118.9) Transfers In/Out $(27.6) $(28.0) $(28.5) Total Exp. & Transfers Out $(142.1) $(144.7) $(147.4) Surplus/(Deficit Spending) $(3.5) $(3.1) $(1.1) Ending Balance $38.5 $35.4 $34.3
Unrestricted General Fund Multi- Year Planning Factors PY Planning Factor 2024-25 2025-26 2026-27 2023-24 8.22% Dept. of Finance Statutory COLA 1.07% 2.93% 3.08% Local Control Funding Formula COLA 0.0% 0.0% 0.0% 0.0% STRS Employer Rates 19.10% 19.10% 19.10% 19.10% PERS Employer Rates 26.68% 27.05% 27.60% 28.00% Universal Transitional Kindergarten/ADA $3,044 $3,077 $3,167 $3,265 Revenue Planning Factors Projected COLA from the Department of Finance Enrollment and ADA Projections Expenditure Planning Factors 2% step and column Projected STRS and PERS employer rates
Next Steps LCAP and LREBG Meetings Governor s Budget Proposal for 2025-26 January 21, 2025 Capital Advisors Presentation in February 2025 2nd Interim Financial Report presented to Board of Trustees March 2025
First Interim Budget Update Thank you!
