Third Interim Financial Report

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					Third Interim Financial Report




    School Board Meeting
       May 26, 2009
Overview

   Recap of 2nd Interim Financial
    Report
   Budget Outlook
       2009-10
       2010-11
   Additional State Cuts
   Recommendations
Recap of 2nd Interim Report
    OK in 2008-09
        Flexibility Transfer ($870,000)
        Reconfigured position, hiring freeze, reduced
         site budget, eliminated 1 SRO
        Drew from reserve
             $990,000 from Reserve             One-time
                                                augmentation
             $380,000 Categorical Balance
    $1,243,000 projected deficit in 2009-10
        Filed a Qualified Certification -- District able to
         meet current year, but may not be able to meet
         subsequent two years’ financial obligations
    Cash Deferrals
        $5,200,000 deferred from January to July
        SBCSS estimates YCJUSD cash deficient in
         June
        2009-10 Projections

   2009-10 Deficit:                           $1,243,000
   2009-10 Improvements
       SBX34 Flexibility Transfer             $515,000
       Miscellaneous                          $89,000
       Net Gain from Early Retirement         $230,000


   Projected Shortfall                        $409,000


             Concessions from Associations resulted in
             the removal of budget reduction items
         2010-11 Projections
   2009-10 Deficit                     $409,000
       Enrollment Trend                $206,000
       Misc. Changes in Revenues       $100,000
       H&W Premium Increase            $500,000
       Utilities                       $75,000
       Step/Column                     $462,000
       Certificated Furlough           $239,000
       Classified Furlough             $53,000
       Misc. Changes to Expenditures   $23,000

   Projected Shortfall                 $1,821,000
Additional State Cuts and the
Federal Stimulus Money
•   Recap of Cuts from the 17-Month Budget
     •$2,312,000 in 2008-09
                                Impact to YCJUSD
     •$490,000 in 2009-10
     •Remedied w/ Cuts, Augmentation from Reserve,
     Concession from Employees, Early Retirement, Flexibility
     Transfers, Sweep of 2007-08 Balance, RIFs & Hiring Freeze

•Additional State Cuts due to deteriorating economy
     $21B Deficit, Cash Shortfall, Failure of Propositions
     •$2,400,000 in 2008-09     Impact to YCJUSD: $4,600,000
     •$2,200,000 in 2009-10     additional Cut

•Stimulus Money (not on-going)
     • “Check in the mail” for $2,400,000
     • More to come???
Game Plan
   Freeze Hiring
       Do not rescind RIF
   Essential Expenditures Only
   Enhance Revenue
   Implement More Savings
   Flexibility Transfers
       Shift Unrestricted Cost to Categorical
   Preserve Federal Stimulus Money
       Backfill to State Cuts
       Alleviate Cash Flow Crunch
Recommendations

   Approve Report
       Remedy $409,000 projected deficit in
        2009-10
       Recognize $1,821,000 Potential Budget
        Shortfall in 2010-11


   Stick with Game Plan