2012-13 Budget

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2012-13 Budget

  1. 1. 2012-13 BudgetDevin Vodicka, EdDAssistant Superintendent, Business Services
  2. 2. Background• Public Hearings held at Board Meeting on June 13, 2012 regarding Tier III Flexibility 6/21/2012• Additional Public Hearing on June 27, 2012• Budget Assumptions approved at Board Meeting on June 13, 2012 2
  3. 3. Current Information• CA State Budget not yet finalized as of June 21• Property Tax estimate updated on June 18 6/21/2012 • 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 3
  4. 4. Current Information• Governor’s November Tax Initiative • Projected cut of $441 per ADA in 2013-14 6/21/2012• 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 4
  5. 5. Other Funds• Sweeping $140k from Food Service to General Fund• Sweeping $100k from Self-Insurance Fund 6/21/2012 5
  6. 6. Summary• Balanced Budget for 2012-13 relies on deficit spending of $5 million 6/21/2012• Projected deficits in outer years: • 2013-14: $11.163 million • 2014-15: $10 million 6
  7. 7. 6/21/20127
  8. 8. 6/21/20128
  9. 9. 6/21/20129
  10. 10. Outlook 2013-14 Expenditure Total is AFTER unspecified reduction of $11,163,885 $90,000,000.00 $80,000,000.00 6/21/2012 $70,000,000.00 $60,000,000.00 $50,000,000.00Dollars $40,000,000.00 $30,000,000.00 $20,000,000.00 $10,000,000.00 $- 2011-12 2012-13 2013-14 Ending Balance $8,657,957.00 $3,628,238.00 $2,976,284.00 10 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
  11. 11. Strategy Recommendations• Continue to aggressively pursue savings • Vacancies 6/21/2012 • 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 11• Continue to communicate financial information to community
  12. 12. Recommendation• It is respectfully recommended that the Board of Trustees discuss and adopt the proposed Annual Budget 6/21/2012 12

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