Escalon Unified School District 2012-2013 1st Interim Report

What hasn’t changed since Budget……

Certification- the District’s certification remains positiveWe show that we can meet our financial obligations through 2014-2015

Long Term Debt- As of Oct 31st, our long term debt obligations have not changed.

Because of Measure B passing we can pay off our COPs loan, saving us a payment of $400,000 per year.

Other Funds- we are still projecting lower Developer Fee receipts for Fund 25 so our COPs payment through September is slated to be paid from Fund 40. All other funds are projected to remain positive through 2012-2013

Cash Flow- we remain positive ($2 mil) The passage of Prop 30 shows a large amount of money coming in June to help us end positive for the year. (EPA) No loan is required.

What has changed since Budget Revenue Limit- a decrease of $57,007 due to a revision

in Special Education summer school attendance.

Deficit Spending- went from -696,189 to -675,032. We continue to show large deficits in years 2013-2014 and 2014-2015 despite cutting materials and supplies by $100,000 both years

Enrollment- Current enrollment from this year compared to last year show us down 62. However our Charter school is up to approximately 38. Current net loss of 28.

What has changed cont…. Expense transfer to ECA- We were able to

transfer $168,000 in Teacher and Admin costs to our Charter school

COLA- on advice from our COE was removed from R/L for 2013-2014

Beginning Fund Balance- Our adopted budget showed an estimated BFB of $5.6 million. Our actual BFB is 5.4 million

Ending Fund Balance- Original Budget 4.9, revised 1st Interim 4.7

In Summary…….. The passage of Prop 30 allowed us to remove the 1.2

million slated to be cut and allow us to maintain programs for students

We will continue to spend conservatively as reports from the State are still showing overall revenues down and our projected deficits are large and not sustainable

Increasing our student’s attendance will not only provide better learning opportunities, it will provide more revenue to help our District stay solvent.

Questions???