Yosemite Unified School District

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Yosemite Unified School District

• December 05, 2006

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Board Packet contains

• This Presentation in print
• First Interim Report with all funds and
  multi-year projections
• Audit reports
• Will be posted online

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Presentation Contents

• Audit for the year Fiscal Year 2006
• Coarsegold
• Yosemite
• State Budget - Sound bites
• District First Interim Report
• Future - Exposures
• Goals and Recommendations

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Transition News

• This has been the most busy and challenging year
  for the business office.
• We were keeping books for 4 districts
• Closed books on 3 districts
• Unaudited Actuals for three districts
• Audited 2 districts
• Establishing every thing New
• Salary blending, health and welfare changes
• Merging databases
• Attendance
• Staff
• Kudos to the business team Great job

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2005 2006 Audit Reports
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Coarsegold FY06 Audit

• Minor Findings (with no fiscal impact)
• Student Body
• Audited General Fund - Ending balance brought
  forward to the Unified School District ?
  503,000
• Net assets brought forward ? 6.4 Mil

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Yosemite Union High School District Audit Findings

• Minor Findings
• 9th grade class size reduction
• Student Body Findings
• Audited General Fund Ending balance that will be
  brought forward to the Unified District ? 1.164
  Million
• Net assets brought forward ? 20.74 Million

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General Fund Details Lapsed Districts

• Coarsegold
• Beginning Balance ? 1,024,000
• Revenues ? 7.4 Million
• Expenses ? 7.9 Million
• Net Increase / (Decrease) (522,000)
• Ending Balance ? 503,000

• Yosemite
• Beginning Balance ?1,055,000
• Revenues ? 11.7 Million
• Expenses ? 11.5 Million
• Net Increase / (Decrease) ? 109,000
• Ending Balance ? 1,164,000

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Beginning of a New Era..

• Yosemite Unified School District

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General Fund Balances
Yosemite EB
Coarsegold EB
503,000
1,164,000
YUSD BB
1,667,000
EB Ending Balance BB Beginning Balance
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First Interim Report 2006 - 2007
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2006-07 Budget Snap Shot

• Projected Revenue ? 21.21 Million
• Projected Expenses ? 21.11 Million
• Net Increase ? 100,000

Estimated
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Revenue Estimation(By Source)
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Expenses Budgeted(By Major Categories)
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General Fund Contributions/Encroachments
500,000
Transportation
95,000
Cafeteria
60,000
Special Ed
Estimated as of Interim 1
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Multi Year ProjectionsAssumptions

• 3.0 COLA (revenue) for FY 06
• 3.0 COLA (revenue) for FY 07
• No Increase in ADA

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Revenues and Expenses(In Millions)
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Required Reserve / Cushion
Cushion
Reserve
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RequirementsFor Positive Certification

• This Year (2004-2005) ending Balance has required
  reserve, and
• Next Years (2005-2006) ending balance has
  required reserve, and
• Following years (2006-2007) ending balance has
  required reserve

If not, then it is Negative Certification
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Benefits of Positive Certification

• Signals Financial Stability of the District
• Tells the State that we are managing our business
  efficiently
• Enables Borrowing Power
• TRANS
• Other Loans

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Certification of 1st Interim Report
Business Office Recommendation (Based on
Multi-Year Projections)

• Positive

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Factors that could affect next year

• State budget 07-08 Forecast 5.5 Billion in
  Deficit
• Declining enrollment (state wide) until year 2010
  
• Not continuing one time (06-07) funding on many
  programs

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Yosemite Developer Fees
6 Year Histogram
Year To-Date
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YUSD Developer Fees
Projected
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Questions ?