2015-2016 1st interim report - travis unified school district€¦ · 2015-2016 1st interim...

2015-2016 1st Interim Report

December 8, 2015

Anna PimentelDirector, Fiscal Services

Jamie MetcalfAssistant Director, Fiscal Services

Ken ForrestChief Business Officer

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2015-2016 1st InterimBackground

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2015-2016 1st InterimBackground

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We are pleased to report

that our analysis of

current information and

our estimates for future

revenues allow us to

report that we are in a

Positive Status.

Fiscal Discussion

Follows.

History

2006-2007 Positive

2007-2008 Qualified

2008-2009 Qualified

2009-2010 Negative

2010-2011 Negative

2011-2012 Negative

2012-2013 Qualified

2013-2014 Positive

2014-2015 Positive

2015-2016 Positive

2015-2016 1st InterimState Outlook

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The Legislative

Analyst Office

(LAO) recently

prepared a Fiscal

Outlook report.

The following

slides provide

some interesting

insights.


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The LAO report also provides three different

scenarios.

The primary

scenario shows

the State

continuing to build

additional

reserves.


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Scenarios show what might happen should

the economy suffer a downturn.


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Based on this positive State

revenue prediction and the

scenarios indicating that even

should there be a downturn in

the economy the State has

adequate reserves we are

confident in forecasting our

Positive Status.


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• Despite this positive outlook California continues to

significantly UNDERFUND K-12 education. The

information on the following slide points out just

how far behind the rest of the nation we are.

• Under the new State funding formula remember

that Travis Unified is one of the lowest funded

districts in the State. This Interim Report projects

the District will spend $53,661,169 this year with an

ADA of 5,251.13 or $10,218.96 per pupil.

• The next slide provides a comparison of how Travis

relates to State and Federal averages .

2015-2016 1st InterimHow Does Our State Compare?

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2015-2016 1st InterimHow Does Travis Compare?

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• Travis in this fiscal year is forecasted to

spend $10,219 per ADA. To attain the robust

funding shown above we would need an

increase of $2,476 per ADA or $13 million, or

approximately 24%.

• San Diego Unified has done a lot of work on

what adequate funding would look like.


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• As per our calculations the District’s increase

in funding was approximately 12.22%.

• Therefore since the previous slides

compared FY 2014-15 data to our FY 2015-16

data to show the real gap this must be taken

into account.

• The next slide illustrates how far behind we

are.


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As per this

chart Travis

would need

$6+ million

more to reach

State Average

funding.

$13+ million

more for

“Robust”

funding.

$17.2+ million

more to reach

the US

average.

2014-15

California

Average

Using Our

Funding

Increase Of

12.22% To

Approximate

2015-16

California

Average

2014-15 San

Diego

"RoBust"

Funding

Using Our

Funding

Increase Of

12.22% To

Approximate

2015-16 San

Diego

"Robust"

Funding

2014-15 US

Average

Using Our

Funding

Increase Of

12.22% To

Approximate

2015-16

US Average

10,139$ 11,378$ 11,313$ 12,695$ 12,040$ 13,511$

Travis 2015-16

1st Interim

Projection

10,219$ 10,219$ 10,219$

Amount Below

Average or

RoBust

Funding

1,159$ 2,476$ 3,292$

Projected

Travis 2015-16

ADA

5,251$ 5,251$ 5,251$

Travis

Scenario

Shortfall

6,085,997$ 13,004,178$ 17,288,265$

Funding Shortfall Using Expenditure Per ADA Analysis

2015-2016 1st InterimState Funding Summary

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• We believe that the State will continue to

fund K-12 education under the new LCFF

formula.

• Under this formula Travis Unified will

continue to be on the LOW END of funding as

per the previous slide.

• While this funding is not adequate in relation

to our needs we are predicting that revenue

will be sufficient to support our

determination of a Positive Status on our 1st

Interim.

2015-2016 1st InterimGeneral Fund Brief Update

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• Enrollment and Average Daily Attendance

have fallen behind our previous predictions.

• Our 1st Interim shows this with a reduction

60.65 ADA resulting in a revenue forecast

reduction of -$418,512.

• Federal funding associated with the

Department of Defense continues to decline

and has been reduced on this report by

-$283,662.


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• Total revenue changes, both positive and

negative have increased the Board Approved

Adopted Revenue Budget to $53,776,883 an

increase of $1,680,366.

• Total expenditure changes, both positive and

negative have increased the Board Approved

Adopted Expenditure Budget to $53,661,169

an increase of $1,327,083.

• This has a net impact of reducing forecasted

deficit spending. A reminder it is early in the

fiscal year and numbers will change!


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Pro

jecte

d C

urr

en

t Y

ear

We will be actively working to update our ADA projections due to the importance to our funding and this unexpected reduction.

2015-2016 1st InterimOther Funds / What Is Next?

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• There have been no significant changes to

other funds to this point in the fiscal year.

• The staff will be attending a Governor’s

Budget Workshop on January 13, 2016.

After this workshop the staff will prepare a

report to the Board and the Community

that updates the District’s fiscal status and

provides an update on enrollment and a

comprehensive multi-year forecast.

• The entire 1st Interim Report is posted on the

District web site.

Questions?

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