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Dashboard Key Highlights

Enrollment and Attendance = ADA

FY23 Enrollment =

Month 2 ~ 1,571 vs. 1,600 Budgeted (June)

FY23 Month 2 ADA =

~ 1,442 (92% attendance rate) vs. budgeted 1,441 (90%)

Gaps at Lodestar in K, 9th, and 10th grades (~10 students per grade)

Cash

FY23 cash = to days cash on hand (Daily operating expenses are ~$87k)
Current average of 44 Days cash on hand does not include days liquidity
Based on July/Aug Actuals, days liquidity is closer to 95 Days

Revenues

Increased revenue by $5M
$2.5M Cola augmentation (6.28%)
$1.4M Roger’s Foundation
$850k from California Community Schools Partnership Program (CCSPP)
$250k from California Technical Education Incentive Grant
Decrease in Nutrition Service reimbursement due to decrease in participation rates (55%)

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Budget Revision FY 23

October 5, 2022

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Changes in Assumptions from June Projection vs. October

Expenses

Compensation - Salaries for most filled positions were set after June and the salary and benefits line accounts for that in the October Revise

Benefits - Estimated a rate of 24% to air on the conservative side but actuals are closer to 22%

Books and Supplies - Reduced the amount of meals we needed to order since the student participation rate is closer to 55%.

Services and Other Operating Expenditures - Service contracts increased to account for Sped positions we couldn’t fill along with some missed ongoing SPED service costs such as Speech Pathology, Linguistics, and so forth.

Rent - Includes revised lease amounts

Revenues

LCFF 6.28% Cola Augmentation - �Was not informed of how to implement until October Budget Revision

2 New State Grants -�Did not receive formal documentation of 2 new grants California Community Schools Partnership Program (CCSPP) and Career Technical Education Incentive Grant (CTEIG) until the original budget was adopted

Nutrition Services (Federal Funds) - �- The direct impact of implementing universal meals participation patterns were not known until October Revise.
Assumed 90% participation rate but current actual participation rate is 55% of students

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FY23: Approved Budget (June) vs. Budget Revision (Oct)

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FY23 Expenses by Categories

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FY23 Summary of Key Changes in Revenues and Expenses

Summary of findings:

increase in revenue - 29MM to 33MM
Built in assumptions for bond financing starting prorated from Nov-June
Cash flow projections appear to be strong

Revenue changes since June:

LCFF Increase: $2.4M
Grant funding: $1.1M
Roger’s Foundation: $1.4M
SB 740 reimbursement with new facilities financing +$250k

Expenses:

Teacher Compensation: 12% overall increase from last year
Special Education: $4.8M
New Systems for Amazon and Credit Card Expenditures: Control spending and curve non emergency purchases

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FY23 FTE Analysis

207 are

School Campus Staff

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FY23 Discussion on Possible Decisions

Choice Points:

Considering we are expecting $4M from bond financing for future capital projects, how should we begin building out our reserves?

Should we push to get closer to $1M end of year balance through additional cuts? through a 3 year “interest only” for our bonds?

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LCPS Special Education Budget

October 2022

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LCPS 2022-23 Special Education Budget

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LCPS 2022-23 Special Education Budget

$1.1M Increased cost over previous projection*

$600k increased revenue (CCSPP/NPS)

___________________________________________________________________________

= $500k increased contribution needed from the general fund**

*missing ongoing costs and contracts, ex. NPS placements

**$400k from grant funded positions (MTSS Coordinators)

$100k from underestimated salary and benefit costs from unfilled

positions

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Next steps…

Go back and re-run “corrected” FY22 and FY23 Estimate, accounting for missed Contracted Services, to better understand what our actual increase in cost is this year
Project increases to SPED ADA over the course of this year (as more students are identified), which brings down the total cost per ADA
Help the board understand some of the flexibility and quality aspects of the LCPS Sped Program to understand these investments in the context of charter renewals and high quality services for students with disabilities

	Cost per SPED ADA FY22	Cost per SPED ADA FY23 Spring	Cost per SPED ADA FY23 Revised	Change from Spring to Revised
Original Projections	16,912	17,584	27,828	10,244
Corrected	19,921	20,199	27,828	7,629
+20 initials from first 2 months of school		20,199	25,073	4,874

Back of the envelope revision, to be confirmed