Unified School District Ventura*

through F-37, the District has reviewed these findings and has determined that it does not possess the information necessary to respond with the exception of F-21. I. RESPONSE TO FINDINGS A. Response to Finding F-21 Part 1: "Ventura Unified School District failed to provide the information as requested by the Grand Jury. However, with the information in the actuarial report provided by the Ventura Unified School District, the Grand Jury calculated the estimated amounts for projected total health care costs over the next thirty years and the ARC" The District does not agree with this portion of finding F-21. The District informed the Grand Jury on October 28, 2009 that the District does not maintain 30-year projections. However, the District did provide an existing actuarial study Ventura County Grand Jury Re: Response to Ventura County 2009-2010 Grand Jury Report October 25, 2010 performed by an actuary with 15-year cost projections. The District's retiree health insurance plan is estimated to end in 15 to 20 years. Part 2: "the budget for the current school year is $163,386,445" The District agrees with this portion of finding F-21. Part 3: "the annual costs associated with the health care benefits are $16,619,294: $14,161,869 for 443 active employees and $2,457,425 for 263 retirees" The District agrees in part with this portion of F-21. The numbers that need to be corrected are as follows: "443 active employees" should be "1,386 active employees" and "263 retirees" should be "365 retirees." Part 4: "the projected total health care benefits costs over the next 30 years are estimated to be $34,320,948*" The District has reviewed this portion of finding F-21 and has determined that it does not possess the information necessary to respond since this is an estimate calculated by the Grand Jury. Part 5: "does not offer a paid retirement health care benefits plan for current employees" The District agrees with this portion of finding F-21. Part 6: "the retiree health care benefits plan has been closed since June 30, 1993" The District agrees with this portion of finding F-21. Part 7: "the District provides health care benefits to employees who retired prior to July 1, 1993 and to their spouses" The District agrees with this portion of finding F-21. Part 8: "ARC is estimated to be $1,744,161*" The District has reviewed this portion of finding F-21 and has determined that it does not possess the information necessary to respond since this is an estimate calculated by the Grand Jury. Ventura County Grand Jury Re: Response to Ventura County 2009-2010 Grand Jury Report October 25, 2010 ٠ Part 9: "the retiree health care benefit plan that ended in 1993 is not fully funded" The District agrees with this portion of finding F-21. Part 10: "the unfunded health care benefits liability reported in the 2009- 2010 budgets is $34,320,948. The total is comprised of $26,812,023 representing the retiree portion of the unfunded health care benefits liability and $7,508,925 for an employee deferred compensation program for all staff employed by the District as of June 30, 1993" The District agrees with this portion of finding F-21. Part 11: "has a reserve fund with a current balance of $34,246 leaving an unfunded liability balance of $34,286,702" The District has reviewed this portion of finding F-21 and has determined that it does not possess the information necessary to respond since this is an estimate calculated by the Grand Jury. "*Grand Jury calculated amounts" 11. RESPONSE TO RECOMMENDATIONS