Transcript Budget Presentation - Schiller Park School District 81
B U D G E T P R E S E N T A T I O N F I S C A L Y E A R 2 0 1 3 - 2 0 1 4
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
February – March – April May June-
BUDGET CALENDAR :
August September Budget Planning Budget Request Submitted to Principals and Program Administrator Budget Request Received by Principals and Program Administrator Business Office Assembles Budget Request and gathers projected fix costs. Board Approves staffing and facility improvements Prepare Preliminary Budget for review Prepare Tentative Budget Board reviews the Tentative Budget Board approves encumbrance and expenditure authorization Budget Presentation ( We are here ) Tentative budget on ISBE Form on public display Board holds public hearing on 2013-2014 budget Board approves the 2013-2014 bud get
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 following areas: $200,000 in the 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 Note: Subsequent Final Adjustment to the budget will be updated to reflect the recent RFP estimates of No other material changes $18,000 . $13,000 • 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 40
50 60 70 90
Fund 10 20
30
Description Education Operations and Maintenance
Debt Services
Transportation
Municipal Retirement/SS Capital Projects Working Cash Fire Prevention and Safety *Restricted Funds
**Unrestricted Funds
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)
Education Debt Service Transportation
ACTUAL REVENUES, EXPENDITURES AND FUND BALANCE BY FUND(2013)
Unaudited Fund Reserve Summary Schedule
Fiscal Year 2013 (as of 6/30/13)
Actual Revenue and Expenditures 2013
Operations and Maintenance Municipal Retirement/SS Fund Reserves July 1, 2012 (+) Revenues Received (-) Expenditures Disbursed (=) Fund Reserves June 30, 2013 4,951,904 14,024,573 12,828,173 6,148,304 738,523 236,309 367,547 160,855 1,469,536 2,494,601 1,111,035 643,912 1,210,487 2,607,390 780,941 510,472 997,573 123,521 697,641 294,295 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 Capital Projects Working Cash 33,368 2,208,363 173,071 81,063 161,410 45,029 2,289,426 Fire Prevention and Safety TOTALS 44,122 51 44,172 8,740,991 19,997,841 18,098,872 10,639,960 Amount of increase/decrease in fund reserves over Fiscal Year 2012 1,898,969 (+) Revenues Received (-) Expenditures Disbursed
BUDGETED REVENUES, EXPENDITURES AND FUND BALANCE BY FUND (2014)
Unaudited Fund Reserve Summary Schedule
Fiscal Year 2013 (as of 6/30/13)
Education Operations and Maintenance Debt Service Transportation Municipal Retirement/SS Capital Projects
Unaudited Fund Reserve Summary Schedule
Fiscal Year 2014
Fund Reserves July 6,148,304 1, 2013 123,521 697,641 294,295 (+) Revenues Received 14,414,889 997,573 1,414,114 2,736,874 963,666 632,999 (-) Expenditure s Disbursed 14,020,379 1,541,594 2,606,546 888,300 554,400 (=) Fund Reserves June 30, 2014 6,542,814 870,093 253,848 773,007 372,894 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0
Budgeted Revenue and Expenditures 2014
45,029 45,029 Working Cash Fire Prevention and Safety 2,289,426 44,172 66,180 2,355,606 44,172 TOTALS 10,639,960 20,228,721 19,611,219 11,257,462 Amount of increase/decrease in fund reserves over Fiscal Year 2013 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 Fund Balance 2014 $10,639,960 $11,257,462
TAX REVENUE BASE
EAV Value (millions) / Tax Year
$600 000 000,00 $500 000 000,00 $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
Tax Year 2012 % Real Estate 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
rates.
a resourceful site on historical CPI http://www.cookcountyclerk.com/tsd/taxagencyreports/Pages/default.aspx
resourceful site on obtaining historical and current EAV, Tax Rates, Tax Levy, New Property Growth, and Tax Extensions. Agency Code 04-0400-000 a http://www.isbe.net/sfms/afr/ctl.htm
50-02 a resourceful site on gather ISBE Tax Levy Form 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