2012-13 Budget Devin Vodicka, EdD

Assistant Superintendent, Business Services

Background

• Public Hearings held at Board Meeting on June 13, 2012 regarding Tier III Flexibility

• Additional Public Hearing on June 27, 2012

• Budget Assumptions approved at Board Meeting on June 13, 2012

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Current Information

• CA State Budget not yet finalized as of June 21

• Property Tax estimate updated on June 18

• Reduction of 1.24%

• Reduction includes addition of approximately $50k in Redevelopment Taxes (RDA)

• Earlier estimate was reduction of .24%

• Sweep site funds into reserves pending November election

• 100% of EIA

• 50% of Tier III

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Current Information

• Governor’s November Tax Initiative

• Projected cut of $441 per ADA in 2013-14

• Negotiations settled for 2012-13

• Contingency and restoration language

• Use of Blue Shield “credit” to mitigate pay cuts for certificated and management

• LIUNA portion of Blue Shield “credit” still in reserve

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Other Funds

• Sweeping $140k from Food Service to General Fund

• Sweeping $100k from Self-Insurance Fund

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Summary

• Balanced Budget for 2012-13 relies on deficit spending of $5 million

• Projected deficits in outer years:

• 2013-14: $11.163 million

• 2014-15: $10 million

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Outlook

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10 2011-12 2012-13 2013-14

Ending Balance $8,657,957.00 $3,628,238.00 $2,976,284.00

Total Revenues $74,880,718.00 $72,265,640.00 $70,162,635.00

Total Expenditures $81,270,450.00 $77,295,395.00 $70,814,590.00

$-

$10,000,000.00

$20,000,000.00

$30,000,000.00

$40,000,000.00

$50,000,000.00

$60,000,000.00

$70,000,000.00

$80,000,000.00

$90,000,000.00

Do

llars

2013-14 Expenditure Total is

AFTER unspecified reduction of $11,163,885

Strategy Recommendations

• Continue to aggressively pursue savings

• Vacancies

• Examination of expenses

• Continue to aggressively pursue revenue generation

• Rentals/Lease

• Facility Use

• Preschool

• Continue to foster interagency partnerships

• City of Carlsbad

• Carlsbad Educational Foundation

• PTA/PTSA

• Continue to communicate financial information to community

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Recommendation

• It is respectfully recommended that the Board of Trustees discuss and adopt the proposed Annual Budget

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