Finance – FY23 Ist Interim

Presented to LCPS

Finance Committee

11/30/22

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FY23 LCPS Fiscal Dashboard

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First Interim Highlights

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Enrollment and Attendance = ADA

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• FY23 Enrollment =

Month 4 ~ 1,571 vs. 1,600 Budgeted (June, 2022)

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• FY23 Month 2 ADA =

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

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• Gaps at Lodestar in K, 4th, 7th, and HS grades (~10 students per grade)

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Cash

• FY23 cash = to 63 days cash on hand (Daily operating expenses are ~$88k)
• Current average of 56 Days cash on hand does not include days liquidity
• Based on July/Aug Actuals, days liquidity is closer to 95 Days

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Revenues

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Increased by $5.45M

• $2.5M Cola augmentation (6.28%)
• $1.4M Roger’s Foundation Grant
• $850k from California Community Schools Partnership Program (CCSPP)
• $250k from California Technical Education Incentive Grant
• $250k Learning Recovery Emergency Block Grant (Total award = $2.8m and expires in FY26)
• $200k Educator Effectiveness (Prior Year Deferral)

Decrease by $800K

• Nutrition Service reimbursement lowered due to participation rates (55%)

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Budget Revision FY 23

November 30, 2022

Changes in Assumptions from June Projection vs. First Interim

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Expenses

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• Compensation -
• Salaries for most filled positions were set after June; the updated salary and benefits line is accounted in the 1st interim report

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• Benefits -
• Estimated a rate of 24%; actuals are closer to 22%

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• Books and Supplies -
• Reduced the amount of meals as the student participation rate is closer to 55%.

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• Services and Other Operating Expenditures -
• Service contracts increased to account for SPED positions we couldn’t fill
• Additional SPED service costs for speech pathology, translation services, and other services.

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• Debt Service and Rent - Includes revised lease amounts per bond agreement

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Revenues

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• LCFF 6.28% Cola Augmentation, Changes in SB 740 Reimbursements, Rogers Foundation Grant - �
• 3 New State Grants -�Did not receive formal documentation of 3 new grants
• California Community Schools Partnership Program (CCSPP)
• Career Technical Education Incentive Grant (CTEIG),
• Learning Recovery Emergency Block Grant
• 1 Prior Year Deferral Grant –
• Educator Effectiveness grant was deferred from prior year
• Nutrition Services (Federal Funds) -
• The direct impact of implementing universal meals participation patterns were not known.

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FY23: Approved Budget (June) vs. Budget Revision (First Interim)

FY23 Expenses by Categories

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FY23 FTE Analysis

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207/239 are

School Campus Staff

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The 6 additional shared service staff members are grant funded:

• Health/COVID Coordinators (2)
• Community Support Coordinators (2)
• Dual Credit coordinator (1)
• Work-based Learning coordinator (1)

FY23 First Interim & Year to Date Actual Expense (% of Year Completed = 33%)

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