MERIDIAN CUSD 223. FY 17 Tentative Budget Presentation

Transcription

1 MERIDIAN CUSD 223 FY 17 Tentative Budget Presentation

2 EXAMINATION OF BUDGETING PROCESSES AND DATA Overall data Year in Review for FY 15 Baseline numbers for FY 16 (Unaudited numbers) The budgeting process examined FY 17 Tentative Budget Data Dashboard Concept

3 REVIEW OF OVERALL DATA

4 Operating Reserves at End of Fiscal Year 9,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, ,000, FY 13 FY 14 FY 15 FY 16 (Projected) FY 17 Budgeted

5 Operating Fund Reserve Percentage 60% 50% 40% 30% 20% 10% 0% FY 13 FY 14 FY 15 Projected FY 16 Budgeted FY 17

6 10,000, Surplus/Deficit 8,000, ,000, ,000, ,000, (2,000,000.00) (4,000,000.00) (6,000,000.00) FY 15 THREE TAX PAYMENTS FY 16 RECEIPT OF ALL HLS FUNDS (8,000,000.00) (10,000,000.00) FY 17 EXPENDING HLS FUNDS RECEIVED IN FY 16 FY 13 FY 14 FY 15 Projected FY 16 Budgeted FY 17 Surplus/Deficit (1,488,784.0 (638,825.00) 3,404, ,706, (7,759,000.0

7 FY 16 BUDGET SUMMARY

8 Unexpecteds Boiler Repairs Approval and commencement of HLS work Three categorical payments received Ability to hire an Elementary Counselor

9 What is going on with the tax payments? We typically receive two tax payments per year. They arrive in late June and Mid-September. These payments make up over 50% of our total revenue. While we have received payments in June, we simply do not cash them until July to stay consistent with the fiscal year. This is no longer an option as payments are direct deposited. OGLE COUNTY ONLY As a result we will have received 3 tax payments in FY 15 and will receive 2 in FY 16. This does not change our cash flow situation but does impact our end of year financial numbers

10 FINAL FY 16 DATA

11 FY 16 DATA NOT YET AVAILABLE FY 16 DATA NOT YET AVAILABLE

12 INITIAL FY 17 DATA

13 ALL FUNDS FY 17 BUDGET

14 FY 17 (Tentative Budget) Education O+M Debt Services Transportation IMRF/SS Capital Projects Working Cash Tort Fire Prevention and Safety TOTALS Opening Year Fund Balance 5,692, , , ,187, , , , , ,427, ,220, Revenue 12,349, ,310, ,775, ,045, , , , , ,621, Expenditure 11,978, ,335, ,775, ,040, , , , ,207, ,380, Projected Annual Total 371, (25,000.00) - 5, (54,000.00) (50,000.00) 87, , (8,127, (7,759, ) ) Remaining Fund Balances 6,063, , , ,192, , , , , , ,461,765.00

15 OPERATING FUNDS FY 17 BUDGET

16 FY 17 (Tentative Budget) Education O+M Transportation Working Cash Opening Year Fund Balance 5,692, , ,187, , Revenue Expenditure Projected Annual Fund Balance 12,309, ,310, ,045, , ,800, ,335, ,040, , (25,000.00) 5, , Remaining Fund Balances 6,201, , ,192, ,746.00

17 NON- OPERATING FUNDS FY 17 BUDGET

18 FY 17 (Tentative Budget) Debt Services IMRF/SS Capital Projects Tort Fire Prevention and Safety Opening Year Fund Balance 744, , , , ,427, Revenue 1,775, , , , Expenditure 1,775, , , , ,207, Projected Annual Fund Balance - (54,000.00) (50,000) - 34, (8,127,000.00) Remaining Fund Balances 744, , , , ,879.00

19 HOW DO YOU CREATE THE TENTATIVE BUDGET?

20 2 separate, but related processes Expenditures Time-bound Must project this forward to make Reduction decisions in February, etc. Revenues Driven by two major items the levy and the state. The levy the district has understanding and control over. The state....

21 Expenditures More scientific Budget must reflect priorities Some hard numbers Salaries (sort of) Controlled expenditures Some soft numbers Energy Major projects Contingencies

22 Revenue Tax payments driven by the levy GSA or General State Aid Grant funding Fees and payments Other miscellaneous revenue Gifts Medicare/Medicaid Reimbursement

23 Control vs. Lack of Control We can control expenditures (to a point), revenue, we have very little control over.

24 State Funding We receive state funding in two ways GSA and Categorical Payments GSA based on Available local resources Poverty level Total attendance average of best 3 months over past 3 years CPPRT State proration Categoricals At 92% - We lose over 450k Supplemental funding for particular programs SpEd Transportation Lunch programs Should receive quarterly Last year received 3 of 4 payments

25 FUND BY FUND EXPLANATION

26 FUND 10 - Education Revenue Levy Max Rate = 3.48 (maximum by statute for 7 years as bolstered by referendum) SpEd Levy Max Rate = 0.04 Lease Levy Max Rate = 0.05 Vast preponderance of GSA SpEd categoricals Bi-lingual grant Pre-K grant Free and Reduced Lunch funding Title I Title II IDEA Flow-Through Grants Medicaid

27 Fund 10 Education Expenditures Teacher, aide, administrator, cafeteria worker salaries, technology costs and salaries, athletic and activity costs, health benefits, and teacher/administrator retirement Supplies Software licensing SIS Audit OCEC Internet connection Phone Service

28 Fund 20 - Revenues Tax Levy (.50) Statutory limit for MCUSD 223 only adjustable through referendum Portion of GSA Rental fees Lease monies Expenditures Custodian and Maintenance salaries and benefits Water Sewer Gas Electric

29 Fund 30 Revenue Tax levy (We tax for exact amount needed capped only by debt limit calculation) Expenditures Directly to pay off long-term debt

30 Fund 40 Revenue Levy (.20 statutory maximum for MCUSD 223 unless a referendum is passed) GSA (tiny portion) Categoricals

31 Fund 50 Revenue Levy based on need (.22 this year) Not enough to cover need, but we had a surplus Expenditures IMRF and Social Security for all Employees

32 Fund 60 Not really used IMPACT fees Specific bonds May use this year to transfer funds to O+M

33 Fund 70 Revenues Levy Expenditures None expected can transfer as needed

34 Fund 80 Revenue As needed levy current rate.317 Expenditures Portion of administrator and director salaries Liability insurance Portion of legal fees Projects designed to increase safety and security

35 Fund 90 Revenue Levy.05 max rate Bonding for total cost of HLS need as dictated by architect, local district, ROE, and ISBE Expenditures Large projects dictated by amendment as created by architect and following protocol above None budgeted for