2. GENERAL
District’s projected financial picture as of January 31, 2013
District is using the standard revenue limit calculation based
on guidance from San Diego County Office of Education
Local Control Funding Formula is not being included in the
calculations since it is a proposal not law
Multi- Year Projection (MYP) includes 2012-13, 2013-14, 2014-
15.
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3. ASSUMPTIONS
2013-14 2014-15
COLA: 1.65% COLA: 2.20%
Enrollment: 22,125 Enrollment: 21,925
1% Salary All Groups: 1,333,273 1% Salary All Groups: 1,353,173
Additional $1.1 million special Final $1.1 million special education
education revenue equalization revenue equalization reduction.
reduction.
Includes deficit spending for the Elementary, Middle, and HS class
restoration of 4 furlough days size reverts to previous contract
language: adds 85 FTE
Includes VTA .83% one time off Increase CSR funding of 1.5 million
schedule payment due to reduction of K-3 class size
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4. MULTI-YEAR PROJECTION
2012-13 2013-14 2014-15
Revenues 178,363,219 175,860,188 177,833,955
Expenditures 189,573,917 190,207,060 197,297,627
Other Fin 1,406,179 39,500 39,500
Sources/Uses
Net (9,804,519) (14,297,162) (19,407,023)
Increase/Decrease
Beginning Fund 44,985,779 35,181,260 20,884,098
Balance
Ending Fund 35,181,260 20,884,098 1,477,076
Balance
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5. ENDING BALANCE
Chart Title
2012-13 2013-14 2015-16
$35,181,260
$20,884,098
$1,477,076
Ending Fund Balance
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6. • The ending fund balance summary shows that the District
will have positive fund balance for the current year and the
next two years; therefore, the District
• Has a Positive Certification for its 2nd Interim Financial
Report.
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7. WHAT DOES THE DISTRICT
SPEND ITS MONEY ON?
Budget
Salary/Benefits
Supplies/Materials
Other Operating
Exp/Services
Capital Outlay
Other/Indirect/Debt
Svc
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8. • Based on Data provided in unaudited actuals of the twelve
unified school districts in San Diego County:
• Vista is #1 in spending for instructional functions.
• Teacher salaries, benefits, materials, books, instructional
aides, etc.
• Vista is #11 in spending for Pupil Services functions.
• Counseling, nurses, student support services
• Vista is #11 in spending for General Administrative
functions.
• Superintendent, Business, Human Resources, Fiscal,
Purchasing, Information Technology
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9. NEXT STEPS
• Deterioration of ending fund balance
• Results in fiscal insolvency
• Superintendent will bring forward budget reduction
solutions
• Of approximately $8 to 16 million over the 2 year period
starting 2013-14.
• Budget adoption will require the District to move a year
forward including the 2015-16 school year. If current
trends continues without any budget reduction solutions,
the District will have a negative budget.
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