F I R S T I N T E R I M R E P O RT - 2 0 1 3 - 1 4

LARKSPUR-CORTE MADERA SCHOOL DISTRICT

CHALLENGES OF LCMSD TRANSITION YEAR

• NEW STATE FUNDING MODEL • NEW ACCOUNTABILITY REQUIREMENTS• IMPLEMENTATION OF NEW CURRICULUM

STANDARDS• NEW TESTING METHODS (SBAC)• CDE FOOD SERVICE AUDIT (with new regulations and

audit format)• NEW CHIEF BUSINESS OFFICER• MORE COMMITTEES/MEETINGS/PLANNING

“WHAT’S THE DIFFERENCE?”(BETWEEN ADOPTED AND 1ST INTERIM – GENERAL FUND)

• REVENUES• No more identity crisis - LCMSD is “state funded”, not

basic aid• Enrollment• LCFF/Property Taxes• Cash Flow

• EXPENDITURES• Staffing• Two school Three school model (start up costs, etc)• LCAP & Common Core Plans

LOCAL CONTROL FUNDING THE FORMULA

• CORE COMPONENTS• Calculation of district “floor”• Minimum State Aid• LCFF Target

Target – Floor = gap

• YEAR-TO-YEAR FUNDING CHANGES• ADA growth/decline• COLAs• Unduplicated EL, Free and Reduced counts• %age of implementation (gap) funding (ends at full

implementation of LCFF)

HOW IT LOOKS FOR LCMSD

2013-14• TARGET = $10,606,211• FLOOR = $ 8,396,621• PY Deficited Revenue Limit Base x CY ADA = $7,417,002• PY Categoricals = $979,619

• GAP = $10,606,211 - $8,396,621 = $2,209,600Funded at 11.78% = $260,291

2014-15• TARGET = $11,021,513 (adjusted by COLA & growth)• FLOOR = $ 8,811,992 (adjusted by growth & py gap adj)• GAP = $ 2,209,522

Funded at 16.49% = $364,350

CASH FLOW – REVERSE ERAF “HOW MANY TRIPLE FLIPS CAN YOU DO?”

• WHAT HAPPENS TO CASH FLOW IN A STATE FUNDED DISTRICT?• Do we flow upstream? Do we flow downstream? Do we

just get washed out to sea?

• CASH FLOW and DEFERRALS• Marin is “Teeter” County• Basic Aid districts “paid” first• State apportionment recalculated paid out beginning Feb • Deferrals -> July