LIVERMORE VALLEY JOINT UNIFIED SCHOOL DISTRICT

Report to the Board of Education

April Budget Revision

As of April 30, 2019, the ending fund balance decreased by a total of $231,101 from our Second Interim.
Below is an explanation of the changes in revenue and expenditures that account for the difference.

Revenue

We received updated revenue projections from the Tri-Valley SELPA which allowed us to increase our
revenue and decrease our unrestricted contribution to Special Education by $141,256. Our Period 2
attendance data necessitated us to lower our projected Local Control Funding Formula revenue by
$396,100. Transfers in from other funds increased by $23,743, based on the final calculation of the
retiree trust transfer.

Expenditures

No expenditure adjustments affected the ending fund balance.

Our District’s current projected ending fund balance for the year is $5,146,971. Of this amount, we are
designating $50,000 for the revolving fund, $150,000 in estimated warehouse inventory, and $4,917,735 as
a 3% reserve for economic uncertainty. This leaves $29,236 designated towards future STRS/PERS
liability.

SK April Budget Revision 2018-19

 Second Interim Adjustments Budget Update
January 31, 2019 April 30, 2019
Unrestricted Restricted Totals Unrestricted Restricted Totals Unrestricted Restricted Totals
A. REVENUE

1. LOCAL CONTROL FUNDING FORMULA $118,384,322 $714,989 $119,099,311 ($396,100) $0 ($396,100) $117,988,222 $714,989 $118,703,211
2. FEDERAL REVENUE $0 $5,580,957 $5,580,957 $0 $175,499 $175,499 $0 $5,756,456 $5,756,456
3. STATE REVENUE $5,185,188 $10,541,481 $15,726,669 $0 $0 $0 $5,185,188 $10,541,481 $15,726,669
4. LOCAL REVENUE $1,806,695 $12,022,255 $13,828,950 $2,500 $698,908 $701,408 $1,809,195 $12,721,163 $14,530,358

TOTAL $125,376,205 $28,859,682 $154,235,887 ($393,600) $874,407 $480,807 $124,982,605 $29,734,089 $154,716,694

B. EXPENDITURES

1. CERTIFICATED SALARIES $54,542,698 $14,287,895 $68,830,593 $1,480 $75,713 $77,193 $54,544,178 $14,363,608 $68,907,786
2. CLASSIFIED SALARIES $13,438,981 $10,967,801 $24,406,782 ($2,527) $7,296 $4,769 $13,436,454 $10,975,097 $24,411,551
3. EMPLOYEE BENEFITS $22,716,443 $14,162,184 $36,878,627 ($157,410) $66,214 ($91,196) $22,559,033 $14,228,398 $36,787,431
4. BOOKS AND SUPPLIES $5,041,761 $6,977,679 $12,019,440 $72,523 $256,000 $328,523 $5,114,284 $7,233,679 $12,347,963
5. SERV & OTHER OPER EXP $6,824,992 $12,107,671 $18,932,663 $88,434 $327,928 $416,362 $6,913,426 $12,435,599 $19,349,025
6. CAPITAL OUTLAY $61,488 $391,228 $452,716 $0 $0 $0 $61,488 $391,228 $452,716
7. OTHER OUTGO $424,247 $1,372,348 $1,796,595 $0 $0 $0 $424,247 $1,372,348 $1,796,595
8. INDIRECT COSTS ($372,762) $244,193 ($128,569) $0 $0 $0 ($372,762) $244,193 ($128,569)

TOTAL $102,677,848 $60,510,999 $163,188,847 $2,500 $733,151 $735,651 $102,680,348 $61,244,150 $163,924,498

C. DEFICIENCY OF REV TO EXP $22,698,357 ($31,651,317) ($8,952,960) ($396,100) $141,256 ($254,844) $22,302,257 ($31,510,061) ($9,207,804)

D. INTERFUND TRANSFERS
1. TRANSFERS IN $611,306 $611,306 $23,743 $0 $23,743 $635,049 $635,049
2. TRANSFERS OUT $0 $0 $0 $0 $0 $0 $0

TOTAL $611,306 $0 $611,306 $23,743 $0 $23,743 $635,049 $0 $635,049

OTHER SOURCES/USES
3. SOURCES $0 $0 $0 $0 $0
4. USES $0 $0 $0 $0 $0

TOTAL $0 $0 $0 $0 $0 $0 $0 $0 $0

CONTRIBUTION TO RESTR. PROG. ($27,411,171) $27,411,171 $0 $141,256 ($141,256) $0 ($27,269,915) $27,269,915 $0

E. NET CHANGE IN FUND BALANCE ($4,101,508) ($4,240,146) ($8,341,654) ($231,101) $0 ($231,101) ($4,332,609) ($4,240,146) ($8,572,755)

F. BEGINNING BALANCE $9,479,580 $4,240,146 $13,719,726 $0 $0 $0 $9,479,580 $4,240,146 $13,719,726

AUDIT ADJUSTMENTS $0 $0 $0 $0 $0
G. ESTIMATED ENDING BALANCE $5,378,072 $0 $5,378,072 ($231,101) $0 ($231,101) $5,146,971 $0 $5,146,971

COMPONENTS OF ENDING BAL:

1. REVOLVING CASH $50,000 $50,000 $0 $0 $0 $50,000 $50,000
2. STORES/WAREHOUSE $150,000 $150,000 $0 $0 $0 $150,000 $150,000
3. RESERVE FOR ECONOMIC UNCERTAINTY $4,895,665 $4,895,665 $22,070 $0 $22,070 $4,917,735 $4,917,735
4. OTHER DESIGNATIONS $282,407 $0 $282,407 ($253,171) $0 ($253,171) $29,236 $0 $29,236
5. UNDESIGNATED BALANCE ($0) $0 ($0) $0 $0 $0 $0 $0 $0