Budget Presentation - Schiller Park School District 81

Report
B U D G E T P R E S E N TAT I O N
FISCAL YEAR 2013-2014
2014 BUDGET AGENDA
Discussion Topics:
•
Budget Calendar
•
Key Basic Assumptions
•
Types of Funds
•
Budgeted Expenditures by Fund by Object
•
2013 Actual Revenues and Expenditures (Unaudited)
•
2014 Budgeted Revenues and Expenditures
•
2014 Budget by Object
•
2014 Budgeted Fund Balances
•
EAV Data used for General State Aid
•
CPI DATA
BUDGET CALENDAR :
February –
Budget Planning
March –
Budget Request Submitted to Principals and Program
Administrator
April -
Budget Request Received by Principals and Program
Administrator
Business Office Assembles Budget Request and gathers
projected fix costs.
Board Approves staffing and facility improvements
May -
Prepare Preliminary Budget for review
June-
Prepare Tentative Budget
Board reviews the Tentative Budget
Board approves encumbrance and expenditure authorization
August-
Budget Presentation (We are here)
Tentative budget on ISBE Form on public display
September
Board holds public hearing on 2013-2014 budget
Board approves the 2013-2014 budget
KEY BUDGET ASSUMPTIONS:
Key Budget Assumptions:
Revenue:
•
Consumer Price Index (CPI ) is projected to be 2% flat.
•
(Used to Calculate the Tax Levy - November 2014)
•
EAV is projected to decline slightly.
•
Student fees are expected to remain flat each year.
•
General State Aid is budgeted as appropriated by the state is expected
to increase 14% over FY 2013 scheduled payments.
•
Federal Funds are budgeted as appropriated by the state and denoted
in the school grant applications for FY 2014 are expected to remain
constant.
•
Real Estate -New Property Growth is expected to be $524,293
KEY BUDGET ASSUMPTIONS:
Expenditures:
Personnel (63.8% of the District’s Budget):
•
Teacher Full Time Equivalent (FTE) are expected to remain at 105.5
•
Student / Teacher and District Staff Ratio are expected to be 13.21
•
No material changes in Teacher FTE
•
No material changes in Administrative FTE
Salaries and Benefits:
•
Staff Salaries are expected to increase by 3.56%
•
Teachers are projected to change lane at an average cost of $44,689.
•
2-3 Paraprofessionals have been budgeted if necessary to adjust for
increase enrollment and class size requirements.
•
Anticipated early retirement cost are expected to be $42,000
•
Health Insurance Cost are expected to increase by 16% (Reduced by 9%)
•
No change in cost for Dental Insurance Cost.
•
No material changes in FICA, Medicare, IMRF or TRS rates.
KEY BUDGET ASSUMPTIONS:
Purchased Services (10.6% of the District’s Budget):
•
Building Grounds and Repair work are expected to cost $200,000 in the
following areas:
•
Parking Lot Pavement
•
Roof Repair Work (JFK Elementary School)
•
Building Maintenance Work (Lincoln Middle School)
•
Life Safety Work (JFK and Lincoln Middle School)
•
Landscaping Work
•
Other Purchases Services:
•
Anticipated Supplemental Educational Services (SES) are expected to
cost $61,000 .
•
Workers’ Compensation Insurance are expected to decrease by 6% over
FY 2013.
•
Property / Casualty Insurance are expected to decrease by 1.3% over FY
2013.
KEY BUDGET ASSUMPTIONS:
Capital Outlay (1.9% of the District’s Budget):
•
Security Cameras and GPS system are expected to cost $13,000
•
Note: Subsequent Final Adjustment to the budget will be updated to reflect
the recent RFP estimates of $18,000.
•
No other material changes
Debt Services (13.3% of the District’s Budget):
•
Bond Schedule for Principal and Interest on combined debt for FY2014 is
expected to be:
Principal - $1,439,075.90
Interest
$1,167,470.35
DISTRICT FUNDS
Fund
Description
10
Education
20
Operations and Maintenance
30
Debt Services
40
Transportation
50
Municipal Retirement/SS
60
Capital Projects
*Restricted Funds
70
Working Cash
**Unrestricted Funds
90
Fire Prevention and Safety
2014 BUDGET COMPARISON BY FUND BY OBJECT (ED FUND)
2014 BUDGET COMPARISON BY FUND BY OBJECT (O & M)
2014 BUDGET COMPARISON BY FUND BY OBJECT (DEBT SERVICES)
2014 BUDGET COMPARISON BY FUND BY OBJECT
(TRANSPORTATION)
2014 BUDGET COMPARISON BY FUND BY OBJECT (IMRF)
2014 BUDGET COMPARISON BY FUND BY OBJECT (CAPITAL
PROJECTS)
ACTUAL REVENUES, EXPENDITURES AND FUND
BALANCE BY FUND(2013)
Unaudited Fund Reserve Summary Schedule
Actual Revenue and
Expenditures 2013
Fiscal Year 2013 (as of 6/30/13)
Fund Reserves
July 1, 2012
(+)
Revenues
Received
4,951,904
14,024,573
12,828,173
6,148,304
Operations and Maintenance
738,523
1,469,536
1,210,487
997,573
Debt Service
236,309
2,494,601
2,607,390
123,521
Transportation
367,547
1,111,035
780,941
697,641
Municipal Retirement/SS
160,855
643,912
510,472
294,295
33,368
173,071
161,410
45,029
2,208,363
81,063
-
2,289,426
44,122
51
-
44,172
8,740,991
19,997,841
Education
Capital Projects
Working Cash
Fire Prevention and Safety
TOTALS
(-)
(=)
Expenditures Fund Reserves
Disbursed June 30, 2013
18,098,872
10,639,960
Amount of increase/decrease in fund reserves over Fiscal Year 2012
1,898,969
16,000,000
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
-
(+)
Revenues Received
(-)
Expenditures Disbursed
BUDGETED REVENUES, EXPENDITURES AND
FUND BALANCE BY FUND (2014)
ule
Unaudited Fund Reserve Summary Schedule
0/13)
Fiscal Year 2014
(+)
(-)
Revenues Expenditure
Received s Disbursed
(=)
Fund Reserves
June 30, 2014
$16,000,000
6,148,304 14,414,889 14,020,379
6,542,814
$14,000,000
Fund Reserves July
1, 2013
Education
Budgeted Revenue and
Expenditures 2014
$12,000,000
Operations and Maintenance
997,573
1,414,114
1,541,594
870,093
Debt Service
123,521
2,736,874
2,606,546
253,848
Transportation
697,641
963,666
888,300
773,007
Municipal Retirement/SS
294,295
632,999
554,400
372,894
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
Capital Projects
Working Cash
Fire Prevention and Safety
TOTALS
45,029
2,289,426
44,172
-
-
45,029
66,180
-
2,355,606
-
-
44,172
10,639,960 20,228,721 19,611,219
Amount of increase/decrease in fund reserves over Fiscal Year 2013
$0
11,257,462
617,502
(+)
Revenues Received
(-)
Expenditures Disbursed
REVENUE BUDGET BY PROGRAM (2014)
Budgetary Revenue
Ad Valorem taxes
levied
Revenue for other
units (CPPRT)
Tuition
Transportation Fees
Earnings on
investments
Food service
Pupil activities
Registration
Other local revenue
EXPENDITURE BUDGET BY OBJECT (2014)
Budgetary Expenditures
Salaries
Benefits
Purchased
Services
Supplies and
Materials
Capital Outlay
Other
Objects/Tuition
Non-Capitalized
Equipment
Debt Services Fund 3
IMRF/SS - Fund 5
Capital Projects Fund 6
FUND BALANCE CHART AND CHANGE (2014)
Fund Balance 2013
$10,639,960
Fund Balance 2014
$11,257,462
TAX REVENUE BASE
EAV Value (millions) / Tax Year
$600,000,000.00
$500,000,000.00
EAV
$400,000,000.00
$300,000,000.00
$200,000,000.00
$100,000,000.00
$0.00
TAX YEAR
EAV
1
2
3
4
5
6
7
8
9
10
11
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
347,926,4 383,571,3 422,225,5 465,855,8 491,157,3 474,951,8 411,186,5 413,817,0 392,449,0 342,254,7 353,441,3
Real Estate
Tax Year 2012
%
$
Air Pollution
345,776,167.00
$
99.38%
-
Railroad
Total Equalized Valuation
$ 2,150,274.00
$
0.62%
347,926,441.00
100.00%
CONSUMER PRICE INDEX (USE IN CALCULATING
THE TAX LEVY)
The 11 year average CPI rate is 2.4%
NOTE: District 81 used a CPI rate of 2.0% in
estimating tax rate for tax levy.
REFERENCES
ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt a resourceful site on historical CPI
rates.
http://www.cookcountyclerk.com/tsd/taxagencyreports/Pages/default.aspx a
resourceful site on obtaining historical and current EAV, Tax Rates, Tax Levy, New
Property Growth, and Tax Extensions. Agency Code 04-0400-000
http://www.isbe.net/sfms/afr/ctl.htm a resourceful site on gather ISBE Tax Levy Form
50-02
Debt Services- Cook County, Illinois Bond Schedule (Schiller Park SD 81)
https://sec1.isbe.net/iwas/asp/login.asp?js=true, a resourceful site on obtaining
Federal Grant Applications and appropriations
http://webprod1.isbe.net/gsainquiry/default.aspx, a resourceful site on obtaining the
appropriations for General State Aid Payment for school year 2014.
Repair cost – Reviewed Life Safety Cost and obtained Vendor Estimates
Insurance cost – Contract renewals for 2013-2014
Board approved Salary Rates for 2014
School Building Budgets Sheets for 2014
Step and Lane Change Cost Analysis Work sheet (2014)– Digital Schools
THANK YOU FOR YOUR PARTICIPATION!
QUESTIONS?

similar documents