State Budget Update Presented to Board of Trustees - August 8, 2022
Explore the 45-day state budget update presented to the Board of Trustees on August 8, 2022 by Ms. Andrea Reynolds, Assistant Supt. of Administrative Services. The update includes details on LCFF, one-time grant funds, ongoing funding, and commitments. Stay informed about the financial changes in this comprehensive report.
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Presentation Transcript
45 Day State Budget Update Presented to the Board of Trustees August 8, 2022 Prepared by Ms. Andrea Reynolds Assistant Supt. of Administrative Services
45 Day State Budget Adoption Update LCFF: Additional $1.8 million in revenue above the Adopted Budget for an additional 6.28% base grant increase, of which $163,000 is for LCFF Supplemental Funds allocation Additional $264,000 in LCFF revenue for COVID ADA relief; of which $24,000 increase in Supplemental Funds allocation State One-Time Grant Funds: (revenue restricted in reserves until expenditure plan is clear) $1.9 million in Arts, Music and Instructional Materials Block Grant $3.2 million in Learning Recovery Emergency Block Grant State Ongoing Funding: $1.1 to $1.9 million estimated Expanded Learning Opportunities Program (Fund 12) (waiting for official state calculation) 2
45 Day State Budget Adoption Update Reserves Commitment Increase Due to the 10% cap on uncommitted reserves, the commitment for Unfunded Retiree Health and Welfare Liability will increase from $3,884,344 at the district s Adopted Budget, to $6,000,000 due to the State s Adopted Budget 3
45 Day State Budget Adoption Update All figures are estimates until final calculations are available from the state. The changes noted here will be incorporated in the First Interim Financial report presented on December 12, 2022. 4
