1. 2 budget development schedule èjanuary - proposed governors budget to begin july 1st èapril/may...
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Budget Development Schedule
January - Proposed Governor’s Budget To Begin July 1st
April/May - Presentations To The Board Of Budget Needs For The Next Year
June Board Meeting – Public Hearing and Formal Budget Adoption
Budget Revision Submitted Within 45 Days After The State Budget Adoption if Necessary
December 15th - First Interim Report
March 15th - Second Interim Report
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How Are Revenue & Expenditure Projections Established?
There are so many unpredictable factors affecting revenue and expenditures that it is important to develop and utilize budget assumptions based on the best information available at the time the budget is adopted.
The Adopted Budget, therefore, should be considered a “financial snapshot” on the date it is adopted. As variables change, formal adjustments, approved by the Governing Board, are made throughout the course of the year.
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Where Does The Money Come From?
Most of the district’s General Fund revenue is generated from the district’s revenue limit, which provides funds to the district based on a State-determined dollar amount times the average number of students who are in attendance throughout the school year. Public education, unlike any other public agency, receives most of its revenue based on the population it serves.The second biggest source of revenue is State categorical income that must be spent for selected State determined programs.
Federal income is a small corner of the entire district income but it is growing as new federal commitments are added
Local income includes interest earned and other small revenue sources
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How Are Funds Allocated To Support Education?
It takes people to teach people and 86% of the District’s total expenditures are committed to the employees of the district.
Employee salaries are divided into three separate categories:
Certificated Non-Management – includes teachers, nurses, librarians and others that provide services that require credentials from the State of California.
Classified Non-Management – includes all of the support personnel such as clerical, bookkeepers, custodians, bus drivers, food service and maintenance personnel.
Management – includes superintendents, principals, vice principals and other instructional and support leaders.
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What Method Is Used For Allocations To School Sites?
Certificated Positions: Based On Enrollment & Class Size
Classified Positions: Based On Enrollment
Supplies: Based On Enrollment
Classroom Supplies: $32- Elementary $50-Junior High
Lottery Allocation: $7 Per Student
Duplicating Allocation: $7 Per Student
First Aid Allocation: $1 Per Student
Equipment Allocation: $2,600 Plus $4 Per Student
Special Funds Are Allocated Based On Identified Students
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What’s The Difference Between Restricted And Unrestricted?
The general fund is split between restricted and unrestricted
funds. The unrestricted general fund consists of revenue
received to run the basic educational program, offset by the
expenditures of the basic program. The restricted general
fund consists of revenue received for specific and limited
purposes, offset by the cost of those specific programs.
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“This money is to be spent for
college, it can only be used for books
and materials”
RESTRICTED
“This money is to be spent for
college, buy anything you
need”
UNRESTRICTED
Tuition
Car
Books
Food
Clothes
Etc.
Books
Software
Paper
Pencils
Workbooks
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How Much Money Is Left Over In The General Fund At The End Of The Year?
The ending balance consists of the following:
“Total Budget” includes the beginning balance and all anticipated income for the year. The “Ending Balance” is the resources that remain after expenditures are deducted from the total budget amount.
Beginning Balance $ 63,807,796Plus Anticipated Income $231,890,535Less Planned Expenditures ($238,005,709)Ending Balance $ 57,692,622
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Ending Balance $57,692,622
Less Stores ($ 151,213)
Less Revolving Fund ($ 89,000)
Less Economic Uncertainties ($7,140,171)
Assigned –Potential Mid-Yr Cut ($11,796,247)
Unassigned Balance $38,515,991
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What Other Financial Reports Are Required?
In addition to the budget, the school district’s financial records are audited on an annual basis by independent certified public accountants.
The District must file a report with the State Department of Education of all expenditures that occurred each fiscal year.
The District must also file interim financial reports twice a year with the Department of Education. These reports present the financial condition of the district and require a certification from the Board of Education as to whether all financial obligations for the fiscal year will be met.
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What Other Financial Reports Are Required? (continued)
All specially funded programs have extensive reporting requirements that must be met.
Total expenditures related to pupil transportation must be filed annually.
All support cost expenditures must be reported.
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What Is Encroachment?
Encroachment is the expenditure of unrestricted funds in support of a restricted program.
Funding for restricted programs such as special education and transportation is less than the expenditures to provide these mandated or court ordered services. The difference between the funding and the expenditures encroaches on the unrestricted funding.
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Account Codes
OBJECT
Fund RESOURCEPROJECT YEAR
GOALFUNCTION
LocationDistrictCode
Unassigned
The Account Classification Is Made Up Of Different Identifying Components
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Account Code Definition
Fund: The accounting systems of school districts are organized and operated on a fund basis. The BCSD has 12 funds.
Resource: A resource code is assigned to identify the funding source of a program
Project Year: Identifies those projects with a fiscal year that is different from the normal July-June fiscal year
Goal: Defines an objective or set of objectives i.e., regular education, staff development, special education
Function: Indicates the type of activity, i.e., instruction, administration, pupil services
Object: Classifies expenditures according to the types of items purchased or service obtained. It classifies revenues by the general source and type of revenue
Location: Identifies the site
District Code: Further identifies the object code, i.e., substitutes
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Hills SchoolCertificated Teacher
Instruction (purpose)
K-12 Education (Objective)
Current Year (0 always indicates current year)
General Fund (fund paid from)
Extra Time
Account Classification Example
01
Title I (funding source)
3150 10000 1110 1100 018 01
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If You Have Any Questions Or Need Additional InformationContact
Sherry GladinDirector, Fiscal Services
(661) [email protected]
orNatalie Sorhouet
Assistant Director, Fiscal Services(661) 631-4698