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Unaudited Actuals
This document summarizes the financial situation of the CUSD school district. It shows that for 2010-2011, revenue was $82.6 million while expenses were $84.22 million, resulting in a $1.62 million deficit. For 2011-2012, projected revenue is $71.25 million while expenses are projected to be $82.2 million, resulting in a projected $10.95 million deficit. To close this deficit, the document outlines over $11 million in potential expense reductions, including increasing class sizes, reducing staff through layoffs and furloughs, cutting programs and transportation, and closing an elementary school. It recommends approving the prior year's financial report and a resolution adopting financial limits.
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Unaudited Actuals
- 1. Unaudited Actuals Devin Vodicka, Ed.D. September 14, 2011 1
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- 5. Succinct Overview CUSD Funds CUSD Expenses $120.00 $120.00 Dollars (in Millions) Dollars (in Millions) $100.00 $100.00 $80.00 $80.00 $60.00 $60.00 $40.00 $40.00 $20.00 $20.00 $0.00 $0.00 Beginning Total Ending Revenue Expenses Total Balance Income Balance '10-'11 $82.60 $16.71 $99.31 '10-'11 $84.22 $15.05 $99.27 '11-'12 Proj $71.25 $15.05 $86.30 '11-'12 Proj $82.20 $4.10 $86.30 September 14, 2011 5
- 6. Deficit Spending $90.00 $80.00 $70.00 $60.00 Dollars (in Millions) $50.00 $40.00 $30.00 $20.00 $10.00 $0.00 -$10.00 '10-'11 '11-'12 Proj -$20.00 '10-'11 '11-'12 Proj Revenue $82.60 $71.25 Expenses $84.22 $82.20 Deficit $(1.62) $(10.95) September 14, 2011 6
- 7. Reducing Expenses • Whatdoes it take to reduce expenses by $11 million? High School Class Sizes from 34 to 40 (Cut 15.80 FTEs) $1,050,000 Middle School Class Sizes from 33 to 40 (Cut 16.60 FTEs) $1,100,000 Elementary Class Sizes from 32 to 40 (Cut 31.00 FTEs) $2,085,000 School Year to 175 Days = 9 Furlough Days for Teachers (approx. 5% cut) $2,165,000 5% Cut for Classified Staff to Mirror Teacher Cut $706,000 5% Cut for Management Staff to Mirror Teacher Cut $252,000 Reduce Three Administrator Positions $450,000 Layoff 5% of Classified Staff $706,000 Eliminate Stipends (Subject Area Leaders, Village Leaders, etc), Athletic Stipends, Co-Curricular Stipends $388,000 Cut Band and Athletic Transportation $137,000 Cut Athletic Director and Athletic Trainer $141,500 Eliminate Travel and Conference Expenses $103,000 Cut 1/3 of Special Education Instructional Assistants $1,316,500 Close Elementary School $400,000 $11,000,000 September 14, 2011 7
- 8. Reducing Expenses • Ifpay reductions were the only strategy employed, employee compensation would need to be reduced by 18% in order to save $11 million. Paycut Only Strategy Remaining Pay Pay Cut 18% 82% September 14, 2011 8
- 9. Recommendations • Approval of2010-2011 Unaudited Actuals Report • Adopt Resolution No. 08-1112, Adopting the Gann Limit for 2010-11 and 2011-12 September 14, 2011 9