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2023-24 Timeline Overview

Month to Month - where we are headed!

	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

	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

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2023-24 ADA Overview

Enrollment and Attendance

Key Metrics for ADA	Notes	Internal Dashboard
LCPS ADA (to date) Enrollment (vs. Budgeted 1620) - 1574 (Feb report was 1567) Attendance (vs. Budgeted 90%) - 90.8% (Feb report was 90.8) ADA Budgeted (1620 x 90% = 1458); ADA to Date (1574 x 90.8% = 1429)	added 7 students across LCPS from beginning of Feb 2 grade levels at L* under-enrolled (K and 9)
Elementary Lighthouse - 310 students; 91.5% (Feb report was 310 students; 91.5%) Lodestar - 294 students; 89.7% (Feb report was 289 students; 89.9%)	Kindergarten and 1st grade at Lodestar - 34 and 44 students All other grades 50+ per site
Middle Schools Lighthouse - 228 students; 92.4 % (Feb report was 231 students; 92.4%) Lodestar - 226 students; 92.4% (Feb report was 222 students; 92.4%)	Lodestar - hold enrollment due to ratio of SWD (despite demand and wait list)
High Schools Lighthouse - 294 students; 89.9% (Feb report was 297; 90.2%) Lodestar - 223 students; 89.1% (Feb report was 219; 88.8%)	9th grade at Lodestar - 54 students (short 20 to 25) - added 5 students this month

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Cash Flow vs. Bond Covenants

Notes:
No major changes to Cash

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Cash Flow vs. Bond Covenants

Key Metrics / Bond Covenant	Current (March, 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	1.65 debt coverage ratio
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	79 days of cash on hand projected for end of year 81 days “hard” cash on hand today Cash $7,954737.67
Bond Covenant Days Cash (June 2024 Projections) The bond covenant includes cash and 3 months of accounts receivables�	121 days Bond Covenant cash on hand

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Budgeted vs Projected Revenue

Waterfall Chart

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 defer $350k to next SY of the original $700K plan in SY24 in federal revenue LCRSET Grant (Elementary literacy grant focused on schools with high UPP %) 500K thru 26-27 SY State Revenue updates include: +235k SWF prior year deferral +200k reclass of Food Svc from federal line +200k dual enrollment +187k recalc of State Facility Grant $125k one time literacy grant Local Revenue updates include: -$200k pending verification of ECF funds -40k from updated fundraising/donation accounts Grants we have applied for / awaiting response FY 24-25. OCAP: Oakland Community Action Partnership (County) Golden State Pathway (State) CTC Resident Teacher (State) ASSETS and CCLC (State/Fed)

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Budget to Date

By Revenues and Expenses (July - Jan)

Notes:
Strong second quarter close Data used to plan for budget revision and second Interim

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Budget to Date

Revenue and Expense variables

Expenses

Individual and Team Budgets:

Continue to monitor Substitute usage due to staff absences and Vacancies. Minimal “net / net” impact.
Budget analysis through January; adjustments as part of Budget Revise for March Board Meeting. Key areas to access and monitor: SPED, Operations and Tech, Contracted Services, Books and Supplies.
Note: We will be moving to a “pre-pay” model, as many expenditures in the second half of the year are for the upcoming school year.

Unbudgeted Expenses to monitor:

Substitute Teachers -
Legal

Revenues

ADA Off - Track: Drop of 1% on aggregate

Enrollment and Attendance have been challenging since the last board report (November thru January)
We have picked up a few “new students” this month - these are students who have returned to Lodestar.

Grants Update:

BiPartisan Safety Grant - $700K this year; $2.1M total (will cover unbudgeted security costs. We will not spend the budgeted amount due to federal grant procurement guidelines.
Literacy Grant - May start in 23-24 - $500K over 4 years
CTEIG - $75K - May start in 24-25
Spend-down of one time ESSER funds

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2023-24 Lottery and Enrollment

Applications to date

We had 586 applications at the for the first round lottery; last year we had 769 (Decline of 25%). Oakland Charters are seeing an overall decline in applications.

Current 1st, 2nd, and 3rd ranked applications

2/13 - pre first lottery deadline

Notes:
Lighthouse: entry points (K, 6, and 9) appear strong. The Material Revision will allow us to fully enroll the MS Lodestar: We will do a TK/K combo, MS remains strong. HS is executing a recruitment/retention strategy

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2023-24 Intent to Return

Current Family Responses

We had 1377 students / families respond to our “Intent to Return” process this month (out of 1452 students - omitting seniors)

Highlights:

95% response rate
1314 “Yes” - 90.5%
38 “Maybe” - 2.6%
25 “No” - 1.7%

half of this group shared they are leaving Oakland / out of area

75 did not response yet - 5%

Further reporting after our first lottery draw in our April Board meeting

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