Moraga School District 2019-20 Budget Review and Financial Analysis
Explore the financial details of the Moraga School District's 2019-20 adopted budget, including revenue sources, expenditure changes, and multi-year projections. Get insights into the district's budget development timeline and key financial reviews for the previous and upcoming years.
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Moraga School District June 4, 2019 2019-20 Adopted Budget-Public Hearing Governing Board: Jon Nickens, President Heather Davis, Vice-President Richard Severy, Board Member John Giordani, Board Member Janelle Chng, Board Member District Staff: Bruce Burns, Superintendent Daniela Parasidis, Chief Business Official
2019-20 Financial Review Timeline Budget Development (Jan-June) Adopt Budget (June) Year-End Closing (July-June) 45 Day Revision (August) Estimated Actuals (July-April) 2nd Interim (July-Jan.) 1st Interim (July-Oct.) 2
2019-20 Adopted Budget Review 2018-19 Estimated Actuals - Final revision and review of the 2018-19 budget - Provides a better estimate of how the year will end Review 2019-20 Adopted Budget - First look at the 2019-20 budget Review Multi-year Projection for 2020-21 and 2021-22 3
2018-19 Schedule of Changes-Revenue Estimated Actuals REVENUES 2nd Interim Change Explanation Increase in LCFF based on P-2 ADA coming in greater than projected ADA. LCFF Sources 14,867,448 14,945,382 77,934 Increase of $8,569 in Federal Special Education funds, off- set by $10,000 in Student Support Grant funds that are being deferred to 2019-20. Federal 408,302 406,871 (1,431) Slight increase of $920 in Special Education Mental Health Funds and an increase of $14,740 for the new Classified Employee Professional Development program. State 1,814,892 1,830,552 15,660 Increase of $56,000 in Facility Use Revenue, offset by a reduction of $42,000 in Special Education local property tax and Early Intervention Program funds, a reduction of $9,000 in After School Sports, and a reduction of $6,000 in school site funds. Local TOTAL REVENUES: 5,871,011 22,961,653 5,869,654 23,052,459 (1,357) 90,806 4
2018-19 Schedule of Changes-Expenditures Estimated Actuals EXPENDITURES 2nd Interim Change Explanation Increase of $8,800 for extra hours for teachers at Camino Pablo and Donald Rheem to pack for classroom moves, $3,000 for extra hours for Summer Technology Professional Development, $8,300 in teacher substitute costs offset by $900 in miscellaneous adjustments. Increase of approx. $42,000 in 1.5% CSEA Salary Increase, $3,800 in extra hours for Camino Pablo and Donald Rheem to pack for moving classrooms, $37,000 for anticipated Vacation Payouts, $13,000 in school site and district office clerical extra hours, $4,000 in Custodial Overtime, offset by a reduction in an Intensive Instructional Aide position of $26,000 and $3,000 in miscellaneous adjustments. Certificated Salaries 9,615,402 9,634,616 19,214 Classified Salaries 3,486,096 3,556,568 70,472 Benefits 5,706,906 5,726,083 19,177 This is related to the increase in certificated and classified salaries. Reduction of $66,000 in school site funds that will be carried over to 2019-20, reduction of $275,000 in NGSS and French textbook adoptions that will be implemented in the beginning of 2019-20, offset by an increase of $27,000 in chromecarts for the upcoming textbook implementation, an increase of $66,000 in student and teacher technology replacement and $6,000 in miscellaneous adjustments. Books & Supplies 1,026,222 784,178 (242,044) Reduction of $26,000 in school site funds that will be carried over to 2019-20, $49,400 in Low Performing Block grant expenditures that will be implemented in 2019-20, $93,000 to cover increase in "Books and Supplies" line item for Chromecarts and student/teacher technology replacement, $16,000 in anticipated legal fees, offset by an increase of $25,000 in communications due to late erate discounts that the District will receive in 2019-20, $24,000 in Readers/Writers Summer Institute and $6,300 in miscellaneous adjustments. Contracts & Services 3,170,660 3,041,561 (129,099) Capital Outlay 363,945 363,945 - Other Outgo - - - Indirect Support Costs (55,000) (55,000) - Transfers Out 18,995 18,995 - TOTAL EXPENDITURES: 23,333,226 23,070,946 (262,280) 5
2018-19 Schedule of Changes-Fund Balance Estimated Actuals 2nd Interim Change Excess (Deficiency) of Revenues over Expenditures (371,573) (18,487) 353,086 - - - FUND BALANCE, RESERVES Beginning Balance Ending Balance 5,580,450 5,208,877 5,580,450 5,561,963 353,086 - - - - - - RESERVES: Nonspendable: Revolving Cash Prepaid Expenditures Restricted: Legally Designated (restricted programs) Assigned: Textbooks Curriculum & Instruction Technology Replacement/Upgrades Unassigned: Designated for Economic Uncertainties Unassigned Fund Balance 25,000 25,000 279,675 462,223 182,548 - - - 350,000 100,000 575,626 350,000 100,000 775,395 199,769 - 699,997 3,178,579 692,128 3,157,217 (7,868) (21,363) 6
Summary of Governors 2019-20 Proposal for Education-May 2019 Strong April tax revenues allowed Governor to maintain most of his proposals in January. For Moraga School District this means: Full Funding of the Local Control Formula with a 3.26% COLA Reducing the CalSTRS Employer Contribution Rate from 17.10% to 16.70% 7
LCFF Revenue = 67% Funded ADA 1,812.04 State Aid 33% COLA 3.26% Property Tax 67% LCFF Revenue $14,984,026 8
Local Revenue Sources = 25% $3,500,000 $2,981,522 $3,000,000 $2,500,000 $2,000,000 $1,625,000 $1,500,000 $1,000,000 $639,499 $500,000 $190,000 $125,000 $100,807 $- Other Local Facility Use School Site Donations SpEd Local MEF Parcel Tax 9
Other State Revenue = 6% State Lottery: $370k SpEd Mental Health: $114k Mandated Block Grant: $58k Federal Revenue Sources = 2% Special Education: Local Assistance IDEA: $327k PreK IDEA: $9k Mental Health: $20k Title I Low Income: $32k Title II Teacher Quality: $17k Title IV Student Success: $10k 10
2019-20 % of Total Revenue Local 25% State 6% LCFF Sources 67% Federal 2% LCFF Sources Federal State Local 11
2019-20 Expenditures Factors Staffing Enrollment of 1,812 TK-8 Students Certificated Staff: 104.83 fte Classified Staff: 72.00 fte Administrative Staff: 15.80 fte Certificated/Classified Salaries Step and Column Increases 2019-20 increased salary schedules per bargaining agreements Updated health benefit costs Projected increase of 5% to health premiums STRS Employer Contribution Rate: 16.70% PERS Employer Contribution Rate: 20.733% Updated Workers Compensation Rate 1.81% 12
2019-20 Non-Personnel Expenditures Factors Utilities (PG&E, Garbage, Water, Phone, Sewer) = 6% School Site Discretionary Budgets = $45/student Special Education Contracted Services = $759k Music/PE/Art Program = $24k Professional Development Contracts = $107k NGSS, History and French Textbook Adoptions = $625k Administrative Contracts/Supplies = $500k Technology Replacement/Upgrade = $306k Routine Restricted Maintenance Program = $223k 13
2019-20 Expenditures Contracted Services 10.89% Other Transfers -0.11% Books & Supplies 5.62% Salaries & Benefits 83.59% Salaries & Benefits Books & Supplies Contracted Services Other Transfers 14
2020-21 Multi-Year Projection Governor s Budget Proposal LCFF GAP Percentage: 100% Cost of Living Adjustment: 3.0% Consumer Price Index: 3.16% CalPERS Rate: 23.60% (increase of 2.87% from 2019-20) CalSTRS Rate: 18.10% (increase of 1.40% from 2019-20) District Assumptions Funded ADA: 1,769.23 Certificated Step/Column Increase: 1% Classified Step/Column Increase: 1% Health Benefit Increase: 5% Reserve for Economic Uncertainty Minimum: 4% Routine Restricted Maintenance: 3% Reduction of Parcel Tax Measure B Revenue: ($1 million) 15
2021-22 Multi-Year Projection Governor s Budget Proposal LCFF GAP Percentage: 100% Cost of Living Adjustment: 2.80% Consumer Price Index: 3.05% CalPERS Rate: 24.90% (1.30% increase from 2020-21) CalSTRS Rate: 18.10% (flat from 2020-21) District Assumptions Funded ADA: 1,769.33 Certificated Step/Column Increase: 1% Classified Step/Column Increase: 1% Health Benefit Increase: 5% Reserve for Economic Uncertainty Minimum: 4% Routine Restricted Maintenance: 3% 16
Local Control Funding Formula (LCFF Funding) 2019-20 2020-21 2021-22 $14,984,026 $15,077,698 $15,499,664 LCFF Funding $493,473 $ 93,672 $ 421,966 $ Increase Per Year 3.41% 0.63% 2.80% % Increase per Year 17
Multi-Year Projection 2018-19 23,052,459 23,070,946 (18,487) 2019-20 22,988,143 23,420,551 (432,408) 2020-21 22,091,771 23,288,449 (1,196,678) 2021-22 22,523,308 23,579,985 (1,056,677) Total Revenues: Total Expenditures: Net Increase (Decrease) to Fund Balance: FUND BALANCE RESERVES: Beginning Balance Net Increase (Decrease) to Fund Balance: ENDING FUND BALANCE: 5,580,449 (18,487) 5,561,962 5,561,962 (432,408) 5,129,554 5,129,554 (1,196,678) 3,932,876 3,932,876 (1,056,677) 2,876,199 COMPONENTS OF THE ENDING FUND BALANCE NONSPENDABLE: Revolving Cash RESTRICTED: Categorical Programs ASSIGNED: Textbook Implementation Curriculum & Instruction Professional Development Technology Replacement/Upgrade UNASSIGNED AVAILABLE RESERVES: **3% Required Reserve **Undesignated Fund Balance: 25,000 462,223 25,000 112,116 25,000 105,561 25,000 7 350,000 100,000 775,395 0 0 0 0 0 0 53,130 527,251 220,807 692,128 3,157,216 702,617 3,709,440 698,653 2,882,855 707,400 2,143,792 TOTAL AVAILABLE RESERVES AS A PERCENTAGE: **TOTAL AVAILABLE GENERAL FUND RESERVES ADD FUND 17 RESERVES TOTAL AVAILABLE RESERVES IN DOLLARS: TOTAL AVAILABLE RESERVES AS A PERCENTAGE: 3,849,344 912,581 4,761,925 20.64% 4,412,057 912,581 5,324,638 22.73% 3,581,508 912,581 4,494,089 19.30% 2,851,192 912,581 3,763,773 15.96% 18
Other Funds The district administers 7 other funds: Child Care Fund Cafeteria Fund Special Reserve Fund Building Fund Capital Facilities Fund Capital Projects Reserve Fund Bond Fund All are projected to have positive fund balances 19
Next Steps Governing Board will be asked to adopt the budget on June 11, 2019 By June 15, the Legislature must pass the budget By June 30, the Governor Acts on the budget By August 15, 45 day budget revision brought back to Board of Education 20
