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Chino Valley Unified School District
Division of Business Services
Division of Business Services
2008/2009
Adopted Budget
Executive Summary
The District is required to adopt a budget prior to July 1 of each year in order to authorize the expenditure of funds. Since the adoption occurs before the Legislature approves the State budget and before actual expenditures are known for the current year, there are many estimates for both revenue and expenditures. This Adopted Budget is therefore only an initial blueprint for expenditures that will be subject to revisions over the summer.
Budget Summary
REVENUE ASSUMPTIONS:
While the State Budget has not been adopted, revenue assumptions are based on the Governor’s proposals as revised in May. Major revisions include the following items. 1) The Revenue Limit has been adjusted to reflect a net zero percent (0%) COLA (5.66% COLA with a 5.36% deficit factor). 2) A decline of 385 Average Daily Student attendance is projected. 3) Categorical programs have been reviewed and projected without carryover. 4) Various reductions in Federal Revenues have been reflected.
2009 Assumptions - Revenue Sources
2009 Assumptions - Revenue Sources
EXPENDITURE ASSUMPTIONS:
Major adjustments to expenditures include the following items. 1) Salaries and benefits have been adjusted to reflect current position control. This includes actual step and column adjustments. 2) Categorical programs have been adjusted to balance projected revenue. 3) Adjustments for contractual or mandated services or costs (such as insurance) have been included.
Expenditures by Function - Expenditures by Object
Expenditures by Function - Expenditures by Object
FUND BALANCE:
2007/2008
The General Fund beginning balance on July 1, 2007 was approximately $47.3 million. The ending balance as of June 30, 2008 is projected at $31.1 million. This reflects a decrease of $16.2 million in ending fund balance. This projected increase includes reserves of $3 million for restricted fund carryovers.
2008/2009
The General Fund balance projected in this 2008-09 Adopted Budget is $21.9 million. This is composed of the economic uncertainties 2.5% reserve, $6,229,021; a litigation reserve, $650,000; a designated programs reserve, $4,150,297; restricted funds carryovers, $2,979,681; revolving cash, $100,000; and an unappropriated balance, $7,786,690.
Components of Projected Ending Fund Balance
Components of Projected Ending Fund Balance
