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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 1st 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) - 1587 (October was 1603)
• Attendance (vs. Budgeted 90%) - 91.8% (October was 91.1)
• ADA Budgeted (1620 x 90% = 1458); ADA to Date (1587 x 91.8% = 1456)

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• Loss of 16 students across LCPS from end of Sept
• Adding students for 2nd semester
• 2 grade levels at L* under-enrolled (K and 9)

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Elementary

• Lighthouse - 314 students; 92.2% (October was 320 students; 92.4%)
• Lodestar - 283 students; 90.7% (October was 288 students; 90.6%)

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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 - 236 students; 93.2 % (October was 241 students; 93.3%)
• Lodestar - 227 students; 94.1% (October was 224 students; 92.9%)

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

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High Schools

• Lighthouse - 298 students; 90.9% (October was 303; 89.4%)
• Lodestar - 226 students; 90% (October was 224; 88.4%)

• Lighthouse HS to add students 2nd semester
• 9th grade at Lodestar - 49 students (short 20 to 25) (71 in 10th)

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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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• 1.76 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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• 83 days of cash on hand projected for end of year

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• 82 days “hard” cash on hand today

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• Cash $8,052,346

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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:

• LCFF:LCPS does not qualify for “equity multiplier” (our stability rate is too high)
• Bi Partisan School Safety (state) received. $2.1M - will add $700K in state revenue this SY (will be applied in 2nd Interim after official award)

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Grants we have applied for / will apply for this fall for FY 24-25.

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• Full Service Community Schools (Fed)
• OCAP: Oakland Community Action Partnership (County)
• CTEIG - Career Tech Education (State)
• SWP - Strong Workforce (State)
• Golden State Pathway (State)
• CTC Resident Teacher (State)
• ASSETS and CCLC (State/Fed)

Notes:

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• Strong first quarter close

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• Data used to plan for budget revision and first Interim