every student. every classroom. every day.

2006-07 Statements of Unaudited ActualsYear End Closing

Leon Glaster, CFOPauline Follansbee, Controller

Dr. Kimberly Statham, State Administrator

Board of Education MeetingSeptember 12, 2007

every student. every classroom. every day. 2

•Terrie Williams – Executive Officer of Finance

•Roberta Sadler - Financial Accountant II

•Waly Ndiaye - Financial Accountant II

•Adan Hernandez - Accounting Technician- Receivables Billing

•Quyen Nyo – Financial Accountant I

•Azeb Legesse – Financial Accountant I

•Minh Co – Financial Accountant I

•Michael Ezeh – Financial Accountant I

•David Lewis - Financial Accountant I

•Tina Regueiferos – Executive Assistant to CFO

Acknowledgement of Financial Services Staff

every student. every classroom. every day. 3

Year End Closing Milestones

The year end closing process was organized, integrated and streamlined to ensure accuracy.

All accounts were audited, reconciled and validated.

District’s books were closed on time.

[Special thanks to Pauline Follansbee & staff for working weekends the last month]

every student. every classroom. every day. 4

Unrestricted General Fund

Category 2006-07 Estimated Actuals at June Adoption Budget

2006-07 Unaudited Actuals

Difference

Beginning Fund Balance

$ 10,025,528 $ 9,651,088 ($ 374,440)

Total Revenues $ 266,104,896 $ 268,198,595 $ 2,093,699

Total Expenditures & Transfers

$ 263,705,965 $ 260,630,969 ($ 3,074,996)

Net Increase (Decrease)

$ 2,398,931 $ 7,567,626 $ 5,168,695

Ending Fund Balance

$ 12,424,459 $ 17,218,714 $ 4,794,255

every student. every classroom. every day. 5

Unrestricted General FundEstimated vs. Actual

Category Change Analysis

Beginning Fund Balance

($ 374,440) Restatement of prior year revenue

Total Revenues $ 2,093,699 Revenue limit reduction – ($489,234)State revenue reduction - ($81,250)Interest income increase - $2,654,472

Total Expenditures & Transfers

($ 3,074,996) Increases – Payroll - $251,442; Indirect cost -$2,514,751; Transfers - $722,828 Decreases - School site under exp. - ($1,655,861); Central site under expenditure - ($4,081,364); Other - ($19,005)

Net Increase (Decrease)

$ 5,168,695 Fund balance increase – restructuring of reserves: Economic uncertainty - $9.2 mil.Measure E - $2 mil.Mandated costs - $1,022,061Audit findings - $4,996,653

Ending Fund Balance

$ 4,794,255 Savings account increase

every student. every classroom. every day. 6

Audit Findings Update

Audit Year Questioned Costs

Resolved Questioned Costs

Resolution In-Progress

Potential Audit Liability

2002-03 $ 33,562,272 $ 30,300,359 $ 2,307,788(waiver hearing scheduled)

$ 354,125

2003-04 $ 7,522,824 $ 7,522,824

2004-05 $ 8,768,884 $ 7,918,947 $ 849,937

2005-06 $ 12,722,739 $ 12,722,739

TOTALS $62,576,719 $ 30,300,359 $ 30,472,298 $ 1,204,062

every student. every classroom. every day. 7

Restricted (Categorical) General Fund

Category 2006-07 Estimated Actuals at June- 07 Adoption Budget

2006-07 Unaudited Actuals

Difference

Beginning Fund Balance

$ 17,691,619 $ 18,039,787 $ 348,168

Total Revenues $ 199,103,536 $ 172,160,921 ($ 26,942,615)

Total Expenditures & Transfers

$ 205,826,777 $ 164,155,262 ($ 41,671,515)

Net Increase (Decrease)

($ 6,723,241) $ 8,005,659 $ 14,728,900

Ending Fund Balance

$ 10,968,378 $ 26,045,446 $ 15,077,068

every student. every classroom. every day. 8

Nutrition Services Fund

Category 2006-07 Estimated Actuals at June- 07 Adoption Budget

2006-07 Unaudited Actuals

Difference

Beginning Fund Balance

$ 462,142 $ 647,672 $ 185,531

Total Revenues $ 14,672,430 $ 14,605,359 ($ 22,071)

Total Expenditures & Transfers

$ 14,919,426 $ 14,110,976 ($ 804,450)

Net Increase (Decrease)

($ 246,996) $ 494,383 $ 741,379

Ending Fund Balance

$ 215,146 $ 1,142,055 $ 926,910

every student. every classroom. every day. 9

Nutrition Services Fund

Nutrition Services Nutritional Content and Revenue Enhancement Plan:

Breakfast Expansion Program High School Meal Improvement Plan Go-Green Program Vending Pilot Program Financial Reporting System Upgrade Catering Program

Cost to Implement and operate these programs is $253,000 with an expected Return-On-Investment to include - greater nutritional value for the students of OUSD and over $1 million dollars in increased annual revenues

every student. every classroom. every day. 10

Adult Education

Category 2006-07 Estimated Actuals at June -07 Adoption Budget

2006-07 Unaudited Actuals

Difference

Beginning Fund Balance

$ 5,440,192 $ 5,665,707 $ 225,515

Total Revenues $ 15,169,691 $ 14,656,244 ($ 513,447)

Total Expenditures & Transfers

$ 16,485,575 $ 14,301,554 $ 2,184,021

Net Increase (Decrease)

($ 1,315,884) $ 354,690 $ 1,670,574

Ending Fund Balance

$ 4,124,308 $ 6,020,397 $ 1,896,089

every student. every classroom. every day. 11

Child Development Fund

Category 2006-07 Estimate Actuals at June -07 Adoption Budget

2006-07 Unaudited Actuals

Difference

Beginning Fund Balance

$ 874,453 $ 874,453 $0

Total Revenues $ 25,974,096 $ 22,023,835 ($ 3,950,261)

Total Expenditures & Transfers

$ 25,675,443 $ 20,910,371 $ 4,550,312

Net Increase (Decrease)

$ 298,653 $ 1,113,464 $ 814,811

Ending Fund Balance

$ 1,173,106 $ 1,987,917 $ 814,811

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Other Funds Balances

• Special Reserve, Non Capital Projects– Budget Estimate: $31,994,604– Year End Balance: $31,220,782

• Building Fund– Budget Estimate: $150,135,930– Year End Balance: $173,261,540

• Deferred Maintenance Fund– Budget Estimate: $0– Year End Balance: $6,151,749

every student. every classroom. every day. 13

Other Funds Balances

• County Schools Facilities Fund– Budget Estimate: $3,099,156– Year End Balance: $8,844,846

• Capital Facilities Fund– Budget Estimate: $6,676,851– Year End Balance: $7,530,989

• Self Insurance Fund– Budget Estimate: $7,522,721– Year End Balance: $7,409,315

every student. every classroom. every day. 14

Custodian Historical Trends

Year / Category

2004-05 2005-06 2006-07 2007-08

Salaries & Fringe

$ 13,571,101 $ 12,746,507 $ 12,873,354 $ 15,296,167

Supplies $ 521,434 $ 599,358 $ 645,900 $ 686,020

Services $ 181,945 $ 261,313 $ 182,302 $ 240,956

FTE 236 232 216 242

Enrollment 44,925 41,355 39,694 38,221 (10-day count)

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THANK YOU

QUESTIONS