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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 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 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) - 1604 Attendance (vs. Budgeted 90%) - 91.1% ADA Budgeted (1620 x 90% = 1458); ADA to Date (1604 x 91% = 1461)	4 students pending registering August COVID Absences 2 grade levels at L* under-enrolled (K and 9)
Elementary Lighthouse - 320 students; 92.4% Lodestar - 288 students; 90.6%	Kindergarten at Lodestar - 34 students (short 16-18) and 46 in 1st and 5th grades All other grades 50+ per site
Middle Schools Lighthouse - 241 students; 93.3% Lodestar - 224 students; 92.9%	Lodestar could add 2 to 7 students in each grade
High Schools Lighthouse - 303 students; 89.4% Lodestar - 224 students; 88.4%	Lighthouse could take ~6 to 8 more 9th graders 9th grade at Lodestar - 49 students (short 20 to 25) (71 in 10th)

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Cash Flow vs. Bond Covenants

Notes:
We finished the year with a higher cash balance than expected due to revenue we received in advance (block grants) Peaks represent higher levels of state apportionments and Rogers Foundation grant cycle

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Cash Flow vs. Bond Covenants

Key Metrics / Bond Covenant	Current (Sept, 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	1.88 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	83 days of cash on hand projected for end of year 87 days “hard” cash on hand today
Bond Covenant Days Cash (June 2024 Projections) The bond covenant includes cash and 3 months of accounts receivables�	133 days Bond Covenant cash on hand

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Budgeted vs Projected Revenue

Waterfall Chart

Notes:
LCFF: awaiting the revenue from the “equity multiplier” given our high unduplicated pupil counts +$200 is from ASSETs (after school programming grant) and $75K from state CCAP grant Grants we have applied for / will apply for this fall: Full Service Community Schools (Fed) Bi Partisan School Safety (state) OCAP: Oakland Community Action Partnership (County) CTEIG - Career Tech Education (State) SWP - Strong Workforce (State) Golden State Pathway (State) CTC Resident Teacher (State)

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Budget to Date

By Revenues and Expenses (July - August close)

Notes:
On Pace for strong first quarter close Data will be used to plan for budget revision and first Interim

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Budget to Date

Revenue and Expense variables

Expenses

Individual and Team Budgets:

The team - being short handed - has focused on audit and state compliance.
Budget analysis through Oct/Nov; adjustments as part of Budget Revise. Key areas: SPED, Operations and Tech, Contracted Services

Managing ASES/ASSETs:

Improving attendance and expenses in our after school programs

Unbudgeted Expenses, including Substitute Teacher Costs:

Analysis to come; projecting regular, COVID, short and long term leave, and overall sub coverage costs
Campus Security - we have increased our agreement due to community safety needs
Legal

Revenues

ADA on Track:

Adding new students at Lodestar on a rolling basis;
Adding new students at Lighthouse HS
Attendance and Chronic Absentee strategies

Equity Multiplier:

Waiting for state update

Evaluating New Grants:

Determining spending for FY 23-24 or future years

Evaluation of ERC:

Starting the process to evaluate ERC program