Presentation of March Financial Reports May 12, 2020 General Fund Revenues and Expenditures For the period of March 1 31, 2020 General Fund Balance Sheet at March 31, 2020 and Distributions to Charter Schools Through April 2020, Lagniappe: Investment Report torJanuary-March 2020 Fiscal Impact Update General Fund Revenues and Expenditures Executive Summary March 2020 Actual revenues of $1.5 million were $1 million below budget, primarily Not receiving the $707,500 budgeted For revenue sharing From the state (which we received in May) Budgeting ad valorem revenues as cash is received rather than allocated equally over all 12 months (about $291,000 in March) Actual expenditures of $2.8 million were $100,405 over budget, primarily due to a disbursement to the Center For Resilience that was budgeted in April We are projecting ending the current Fiscal year with a modest surplus lA PUBLIC SCHOOLS General Fund - Balance Sheet at March 31, 2020 Assets total $128 million including a $70 million Revenue Anticipation Note (RAN) we borrowed From March 26 to April 6 Liabilities total $74 million, primarily the $70 million Revenue Anticipation Note Fund Balance totals $54 million with $39 million committed For emergencies, $13.5 million committed For system-wide unforeseen circumstances, and $1.5 million nonspendable in Form (prepaid expenditures) lA PUBLIC SCHOOLS Distributions to Schools Through April $390 million in local revenues (ad valorem and sales taxes) and Funding From the state through the Minimum Foundation Program (MFP) has been distributed to our schools through April Mid-year adjustments occurred in March and April, adding $758,500 to the DiFFerentiated Funding Formula (DFF): Increased student count by 425, From 44,631 to 45,056 From initial charter?per?pupil oF $5,757 to Final charter?per?pupil oF $5,702 State?s annual state?wide adjustments to MFP Schools received the $10.3 million distribution oF2018-2019 deFerred revenues on April 27 lA PUBLIC SCHOOLS Preliminary Estimated Coghill Budget For 2020-2021 Based on 410 students Total revenues oF $4,077,625 MFP From state: $1,592,084 Local sales and ad valorem taxes: $2,485,541 Excludes Federal grant Funding Funding has not been determined Total expenditures oF $4,828,617 $3,032,597 staFFing For 46.33 positions $1,796,020 all other DeFicit oF $750,992 lA PUBLIC SCHOOLS   70% of our cash is in demand deposit bank accounts  27% is in Louisiana Asset Management Pool   Actions by the Federal Reserve  $2.2 trillion CARES Act  % of estimated sales tax decline (April 8, 2020) Very fast Medium March-June 2020 -85% -70% July - Dec 2020 -35% -35% Jan - March 2021 2% -35% April - June 2021 2% -35% July -Dec 2021 2% 2% Jan - June 2022 2% 2% July 2022-June 2023 4% 4% 2019-2020 (Base) 2020-2021 2021-2022 2022-2023 Revenues Per pupil rate Change in revenues Change in per pupil rate Change in revenues Change in per pupil rate Change in revenues Change in per pupil rate Very fast Medium Longest $439,261,062.29 $439,261,062.29 $439,261,062.29 $9,398.39 $9,398.39 $9,398.39 ($57,501,578) ($1,266.64) $63,255,259 $1,314.20 $29,953,536 $635.80 ($41,777,253) ($931.71) ($9,056,019) ($221.86) $110,975,988 $2,355.59 ($41,777,253) ($931.71) ($9,056,019) ($221.86) $62,492,653 $1,326.48 Longest -70% -35% -35% -35% -35% 2% 4% Average, Undifferentiated, Per Pupil $10,000.00 $9,800.00 $9,600.00 $9,400.00 $9,200.00 $9,000.00 $8,800.00 $8,600.00 $8,400.00 FY18 LLA Optimistic Scenario FY19 FY20 LLA Average Scenario FY21 FY22 LLA Pessimistic Scenario Optimistic Average Pessimistic 2019-2020 (Base) Revenues 440,044,454 437,735,111 435,477,619 Undifferentiated average per pupil rate 9,766.72 9,715.46 9,665.36 2020-2021 % Decrease 1.69% -2.71% -6.29% Change in revenues 10,407,000 (13,507,000) (32,778,000) Change in undifferentiated average per pupil rate -0.06% -4.38% -7.90%