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First Semester

October

Board Meeting:

• Dashboard Update
• Finalized our Audit submissions on 9/27
• Capital Expenses from Bond

Finance Committee:

• Director final interviews

November

Finance Committee -

• Budget Revision and 1st Interim preparation
• Audit Committee (target date)
• Preliminary teacher and staff compensation review for FY 24-25 SY

December

Board Meeting:

• Dashboard Update
• Bond Report
• Audit approval
• First Interim Approval
• Preview teacher and staff compensation review for FY 24-25 for Board Feedback

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Second Semester

January

Finance Committee -

• Preliminary teacher and staff compensation review for FY 24-25 SY Continued
• Budget Revision and 2nd Interim preparation
• Preliminary FY 24-25 Budget

February

Board Meeting:

• Dashboard Update
• Approve teacher and staff compensation for FY 24-25 Budget
• Enrollment Lottery Update
• Preliminary FY 24-25 Budget for Board Feedback, including Special Education

March

Board Meeting:

• Dashboard Update
• Second Interim Approval

Finance Committee:

• FY 24-25 Budget Continued

April / June

Board Meeting:

Finance Committee:

• Finalize FY 24-25 Budget and LCAPs

Key Metrics for ADA

Notes

Internal Dashboard

LCPS ADA (to date)

• Enrollment (vs. Budgeted 1620) - 1567 (Dec report was 1587)
• Attendance (vs. Budgeted 90%) - 90.8% (Dec report was 91.8)
• ADA Budgeted (1620 x 90% = 1458); ADA to Date (1587 x 91.8% = 1422)

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• Loss of 20 students across LCPS from end of Oct
• Added a few students for 2nd semester
• 2 grade levels at L* under-enrolled (K and 9)

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Elementary

• Lighthouse - 310 students; 91.5% (Dec report was 314 students; 92.2%)
• Lodestar - 289 students; 89.8% (Dec report was 283 students; 90.7%)

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• Kindergarten at Lodestar - 34 students (short 16-18)
• All other grades 50+ per site

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Middle Schools

• Lighthouse - 231 students; 92.4 % (Dec report was 236 students; 93.2%)
• Lodestar - 222 students; 92.4% (Dec report was 227 students; 94.1%)

• Lodestar - hold enrollment due to ratio of SWD (despite interest)

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High Schools

• Lighthouse - 297 students; 90.2% (Dec report was 298; 90.9%)
• Lodestar - 219 students; 88.8% (Dec report was 226; 90%)

• 9th grade at Lodestar - 49 students (short 20 to 25)

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Notes:

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1. No major changes to Cash

Key Metrics / Bond Covenant

Current (Nov, 2023)

Dashboard

Our Debt Coverage Ratio

• This is defined as LCPS’s ability to cover our debt service
• Our bond covenant sets this at 1.1

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• 1.83 debt coverage ratio

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Our Days Cash on Hand

• This is defined as our current cash divided by our operating expenses divided by 365 days; our daily cash rate is ~$98K
• Our bond covenant sets our days cash at 45 days

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• 82 days of cash on hand projected for end of year

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• 88 days “hard” cash on hand today

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• Cash $8,823,246.68

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Bond Covenant Days Cash (June 2024 Projections)

• The bond covenant includes cash and 3 months of accounts receivables�

• 122 days Bond Covenant cash on hand

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Notes:

These new grant revenues will be applied in 2nd Interim as we will need to budget for this year and subsequent years

• Bi Partisan School Safety (state) received. $2.1M - will add $700K in federal revenue this SY
• LCRSET Grant (Elementary literacy grant focused on schools with high UPP %) 500K thru 26-27 SY

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Grants we have applied for / awaiting response FY 24-25.

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• OCAP: Oakland Community Action Partnership (County)
• Golden State Pathway (State)
• CTC Resident Teacher (State)
• ASSETS and CCLC (State/Fed)

Notes:

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• Strong second quarter close

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• Data used to plan for budget revision and second Interim