Seven separate funds in the overall Saugus Union School District budget received additional funding or experienced additional expenses so far during the fiscal year.
These changes and revisions to the funds are expected to be reviewed and approved by the district’s Governing Board on Tuesday.
“Budget changes at this time of year are normal leading up to approval of our second interim budget in early March,” Board President Christopher Trunkey said.
The first of these changes is to the district’s General Fund that includes a restricted and unrestricted funds and accounts for the ordinary operations of the Saugus district.
Increases to the fund’s revenue were due to student council donations and to a Turf Removal Rebate Program the district participated in.
Expenditures in the General Fund changed due to increases in an ID safety program for visitors, large class sizes and student council donations supplies, among others.
Overall, the unrestricted ending fund balanced decreased by $4,367 and the restricted ending fund balance and the SELPA ending fund balance remained unchanged. This decreased the overall General Fund balance by $4,367 to $10,244,86.
The district’s Child Development Fund, Fund 12.0, which oversees State Preschool Programs also saw an overall change to its ending fund balance.
This fund saw an increase in revenue due to a facilities grant, state preschool grant and block grant. It also experienced new expenditures because the district fully spent a grant.
Overall, these changes resulted in a net increase of $24,928, bringing the Fund’s ending balance to $26,961.
The ending balance of the Capital Project Fund, which handles Measure EE construction projects, remained the same at $4,719,897; however, it reallocated funds within its budget to support IT servers and power upgrade projects. This change required a budget revision.
Fund 49.0, named the district’s Capital Project Fund for Blended Component Units, also experienced additional revenues and expenses that decreased the fund’s overall ending balance by $159,400, bringing it to $21,682,546.
This fund handles construction projects financed by the Saugus district’s seven Communities Facilities Districts (CFDs).
The Debt Service Fund for Blended Component Units, which accounts for CFDs deposit, debt service payments also experienced a net decrease in its ending fund balance by 635,354 to $23,031,420.
Fund 56.0, the district’s Debt Service Fund, experienced a net increase of $1,187,000, which increased its ending fund balance to $12,681,876.
Finally, the district also saw a net decrease in its Child Development Fund, Fund 63.0, which is used to account for the Saugus district’s Child Development Programs.
These changes were due to an increase in spending because of salaries, benefits, materials and services. Overall the changes decreased the ending fund balance by $243,022, bringing it $8,619,955.
Additional Agenda Items:
- Approve of Change Order No. 1 to a Lease-Lease Back Contract with Balfour Beatty Construction, LLC to credit $99,614.42 to the original contract for the Charles Helmers HVAC, Roofing, Fire Alarm Project
- Approve of Change Order No. 1 totaling $8,697.08 to a AAP Construction, Inc. contract for the district’s fiscal office remodel
- Approve of Change Order No. 1 totaling $37,000 to a McCarthy Inspection Services Inc. contract for inspections at the West Creek Academy New Classroom Building Project
- Approve of Change Order No. 3 totaling $$47,000 to a RMA GeoScience contract for on/off site welding and repeated concrete testing and inspection at the West Creek Academy New Classroom Building Project
- Approve of notices of completion to SoCal, LLC Contract for the Highlands Elementary Electronic Door Locks Project and to Redrock Security & Cabling Inc. for the Rio Vista Elementary Electronic Door Locks Project
- Approve of the Mariscal Painting, Inc. contract totaling $42,250 for painting the interior of the first floor of the district office
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