reconvene regular meeting: 7:00 pm - Irvine Unified School District

HD&W LLP - 5/11/10 Draft
IRVINE UNIFIED SCHOOL DISTRICT
Unless otherwise indicated, the following financial, statistical and demographic data has been
provided by the Irvine Unified School District (the “District”). Additional information concerning the
District and copies of the most recent and subsequent audited financial reports of the District may be
obtained by contacting:
Service Area
Irvine Unified School District
5050 Barranca Parkway
Irvine, California 92604
Attention: Stan Machesky, Director of Fiscal Services
The District, established in 1973, currently operates [23 elementary schools, 8 middle schools, 5
high schools, 1 alternative high school, 1 adult school and 1 early childhood learning center]. [Confirm.]
Encompassing approximately 62 square miles, the District includes the Cities of Irvine and Tustin.
Organization and Employees
The District is governed by a five-member Board of Education, whose members are elected to
four-year terms. As of July 1, 2009, the District employed 1,231 full-time-equivalent certificated
professionals, 825 full-time-equivalent classified professionals and __ full-time-equivalent management
professionals and other employees. The pupil-teacher ratio averages approximately [33 to 1 for
kindergarten, 20 to 1 for grades 1 through 3, 33.5 to 1 for grades 4 through 6, 32 to 1 for grades 7 and 8
and 32 to 1 for grades 9 through 12.] [Confirm.]
The District’s collective bargaining units are the Irvine Teachers Association (“ITA”), which
represents all certificated personnel and California School Employees Association (“CSEA”), which
represents all classified personnel. The contracts with ITA and CSEA, respectively, expire on _______.
Pension Programs
The District participates in the State of California Teachers’ Retirement System (“STRS”), which
as of June 30, 2008 had an unfunded accrued actuarial liability of $22.5 billion for the fiscal year ended
June 30, 2009 (reflecting an increase of $1.8 billion since the valuation of June 30, 2007) and a funded
ratio of 87%. Generally, the STRS plan covers all full-time certificated employees. The District’s
contribution to STRS for Fiscal Year 2008-09 was $9,095,760 and for Fiscal Year 2009-10 is estimated to
be $[8,959,842]. The District expects to contribute $__________ to STRS in Fiscal Year 2010-11. The
District also participates in the State of California Public Employees’ Retirement System (“PERS”).
According to the PERS Comprehensive Annual Financial Report for the fiscal year ended June 30, 2009,
which sets forth actuarial information as of June 30, 2008, the PERS Public Employees Retirement Fund
had as of June 30, 2008 an unfunded actuarial accrued liability of approximately $35.1 billion and a
funded ratio of 86.9%. The PERS plan covers all classified personnel who are employed four or more
hours per day. The District’s participation in PERS is funded each fiscal year through District
appropriations. Annual excess earnings, recognized market gains and losses and earnings shortfalls in the
PERS portfolio attributable to school districts and offices of education result in changes in the District’s
respective contributions to PERS. A corresponding adjustment is made in the revenue limit calculation,
such that the District experiences an offset reduction in the revenue limit allocated to it by the State, but
only if recognized excess earnings are available. PERS adopted a policy to stabilize districts’ respective
contributions to PERS by, among other things, limiting the extent by which districts’ contribution rates
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