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Sandoval CUSD 501          
13-058-5010-26          
  DEFICIT BUDGET SUMMARY INFORMATION        
OPERATING FUNDS ONLY          
             
    EDUCATIONAL OPERATIONS & MAINTENANCE TRANSPORTATION WORKING CASH TOTAL
1. Direct Revenues 4,200,857 239,986 312,239 7,940 4,761,022
2. Direct Expenditures 3,921,394 537,744 327,114   4,786,252
3. Difference 279,463 (297,758) (14,875) 7,940 (25,230)
4. Estimated Fund Balance - June 30, 2008 1,039,381 184,544 162,097 0 1,386,022
      Unbalanced Budget, however, a deficit reduction plan is not required at this time.
           
           
* A deficit reduction plan is required if the local board of education adopts (or amends) the 2007-08 school district budget in which the “operating funds” listed above result in direct revenues (line 1) being less than direct expenditures (line 2) by an amount equal to or greater than one-third (1/3) of the ending fund balance (line 4).
  Note:  The balance is determined using only the four funds listed above.  That is, if the estimated ending fund balance is less than three times the deficit spending, the district must adopt and file with ISBE a deficit reduction plan to balance the shortfall within three years.
The deficit reduction plan, if required, is developed using ISBE guidelines and format (See Tab FinPlan 2008-11).   
   
  13-058-5010-26                                             SUMMARY  
  District Number   ESTIMATED BUDGET ESTIMATED BUDGET ESTIMATED BUDGET ESTIMATED BUDGET   BUDGET ADDENDUM - DEFICIT REDUCTION PLAN  
  Sandoval CUSD 501   FY2007-08 FY2008-09 FY2009-10 FY2010-11   ESTIMATED BUDGET  
  District Name                                       Date of Adoption:      
  Marion                                               (Enter as MM/DD/YY)    
  County   Educational Fund Operations & Maintenance Fund Transportation Fund Working Cash Fund Total Educational Fund Operations & Maintenance Fund Transportation Fund Working Cash Fund Total Educational Fund Operations & Maintenance Fund Transportation Fund Working Cash Fund Total Educational Fund Operations & Maintenance Fund Transportation Fund Working Cash Fund Total FY2007-08 FY2008-09 FY2009-10 FY2010-11  
1. ESTIMATED BEGINNING FUND BALANCES                                      (must equal prior Ending Fund Balance) 751,978 361,860 176,972 0 1,290,810 1,039,381 184,544 162,097 0 1,386,022 1,039,381 184,544 162,097 0 1,386,022 1,039,381 184,544 162,097 0 1,386,022 1,290,810 1,386,022 1,386,022 1,386,022  
  RECEIPTS/REVENUES Acct No.                                                  
2. Local Sources 1000 712,642 91,486 37,239 7,940 849,307         0         0         0 849,307 0 0 0  
3. Flow-through Receipts/Revenue from One LEA to                Another LEA 2000 0 0 0   0         0         0         0 0 0 0 0  
4. State Sources 3000 2,997,246 148,500 275,000 0 3,420,746         0         0