Mountain View Whisman School District
Agenda Item for Board Meeting of 3/7/2019
Agenda Category: REVIEW AND ACTION
Agenda Item Title: 2018-2019 Second Interim Budget Report (20 minutes)
Ron Wheelehan, Interim Chief Business Officer
Bharathi Lakshmanan, Director, of Fiscal Services
Twice during the fiscal year, a school district is required to submit a financial report certifying the district's ability to meet its financial obligations for the current year and two subsequent years. The reports examine the district's attendance, spending patterns, fund balance, reserve for economic uncertainties, and multi-year projections. Staff will present the 2018-2019 Second Interim Budget Report, which reflects the district's financial position as of January 31, 2019.
The Second Interim reports changes to the District's 2018-2019 budget adopted in June 2018. The projected General Fund Unrestricted ending balance for 2018-2019 is estimated at $21,509,148 which is a 26.7% reserve, with total revenues at $76,322,396 and total expenditures at $80,555,489. The District is planning on an operational deficit of $4,233,093.
General Fund 01 Combined Totals
Beginning Balance: $27,030,060
Total Revenues: $76,322,396
Total Expenditures: $80,555,489
Ending Balance: $22,796,697
Unrestricted Reserve Level: 26.7%
That the Board of Trustees approve the 2018-2019 Second Interim Budget Report, as presented.