Wheaton Warrenville CUSD 200

Transcription

1 Wheaton Warrenville CUSD 200 PMA Financial Planning Program Presented by Michael Frances Senior Financial Advisor PMA Financial Network, Inc. January 25, 2012

2 Process What is the Financial Planning Program (FPP)? A comprehensive, interactive planning process that can be dynamically updated to assist the District in making important financial decisions. How are we going to use the plan? Budget Planning Trend Analysis Set Fiscal Policies Annual Update and Reassessment Scenario Analysis 2

3 Data Elements Annual Financial Reports (AFRs) for the past five years District s FY12 Budget - Base for financial projections Historical Tax Extension Reports Equalized Assessed Valuations / New Construction Contract and scattergram for certified staff Salary & Benefits information Enrollment Student/staffing ratios 3

4 Operating Funds Revenue Budget $146,494,350 REVENUE BY SOURCE DETAIL - FY 2012 Other Local 5.7% General State Aid 4.6% Other State 7.2% Federal 4.3% Property Taxes 78.2% Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds 4

5 Revenue Assumptions Property Taxes Consumer Price Index (CPI) - Levy Years 4.5% 4.0% 4.10% 3.5% 3.0% 2.5% 2.50% 2.70% 3.00% 2.50% 2.50% 2.50% 2.50% 2.50% 2.0% 1.5% 1.50% 1.0% 0.5% 0.10% 0.0% Actual 5 Projected

6 Revenue Assumptions Property Taxes New Growth (In Millions) $100.0 $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 $31.71 $29.10 $23.19 $86.54 $20.0 $20.0 $30.0 $30.0 $30.0 $30.0 $ Actual Projected 6

7 Revenue Assumptions Other Local Revenue CPPRT: Projected at $1.9 million annually (current DOR estimate) Investment Income: 0.15% rate of return All other local revenues: Projected at current FY12 budget 7

8 Revenue Assumptions State & Federal State Revenue General State Aid (GSA) Factor of enrollment - Average Daily Attendance (ADA) Foundation Level currently $6,119 No increases projected Continued 95% proration Remain in Alternate Formula Funding Other State Categorical Grants Projected at current FY12 budget levels except driver education ($45k increase) Federal Revenue Projected at current FY12 budget levels 8

9 General State Aid Revenue (in Thousands) 12,000 10,000 $9,636 $9,084 8,000 6,000 $7,214 $6,559 $6,710 $6,474 $6,520 $6,420 $6,346 $6,273 4,000 2, Actual Projected 9

10 Tax Levy: Revenue Sensitivity CPI 1% = +/- $1.3 million New Property: $1 million = +/- $38,000 General State Aid $100 Foundation Level = +/- $110,000 10

11 Operating Funds Expense Budget $146,494,150 FY 2012 EXPENDITURES BY OBJECT Purchased Services 13.3% Supplies And Materials 3.8% Capital Outlay 0.6% Other Objects 3.5% Benefits 10.6% Termination Benefits 0.1% Salaries 68.1% Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds 11

12 Salaries Teachers Expenditure Assumptions FY13: lane movement only (est. $500,000) FY14-17: 2.5% annual increases, plus lane movement ($500,000) Support Staff FY13: no increase FY14-17: 2.75% (annual step increases) Administration FY13: no increase FY14-17: 2.5% annual increases 12

13 Expenditure Assumptions - Other Health & Dental Benefits FY13-17: 7% annual increases Purchased Services, Supplies, Capital Outlay, Tuition FY13-17: 2.5% annual increases 13

14 Staffing Assumptions CERTIFIED STAFF (FTE) , , , , , , Actual Projected Excluding administration 14

15 Additional Assumptions No legislative changes in school funding No change to PTELL (Tax Cap) Includes known retirements in future years (103 over next 5 years) with replacement teachers hired in at the BA+24 Lane Step 3 Current FY12 Budget is accurate basis for projections 15

16 Projected Revenues vs. Expenditures - Aggregate BUDGET REVENUE / EXPENDITURE PROJECTIONS FY 2012 FY 2013 % chg FY 2014 % chg FY 2015 % chg FY 2016 % chg FY 2017 % chg REVENUE Local $122,921,400 $125,516, % $129,800, % $134,117, % $138,526, % $143,027, % State $17,267,210 $17,075, % $17,122, % $17,021, % $16,947, % $16,875, % Federal $6,305,740 $6,305, % $6,305, % $6,305, % $6,305, % $6,305, % Other $0 $0 $0 $0 $0 $0 TOTAL REVENUE $146,494,350 $148,897, % $153,228, % $157,445, % $161,779, % $166,208, % EXPENDITURES Salary and Benefit Costs $115,320,590 $116,290, % $117,878, % $119,686, % $122,431, % $126,467, % Other $31,173,560 $31,819, % $32,537, % $33,347, % $34,179, % $35,031, % TOTAL EXPENDITURES $146,494,150 $148,109, % $150,415, % $153,034, % $156,610, % $161,498, % SURPLUS / DEFICIT $200 $787,839 $2,812,864 $4,410,956 $5,169,067 $4,709,423 OTHER FINANCING SOURCES/USES Transfer Among Funds (Net) $0 $0 $0 $0 $0 $0 Sale of Bonds $0 $0 $0 $0 $0 $0 Other Financing Sources $0 $0 $0 $0 $0 $0 Other Financing Uses $0 $0 $0 $0 $0 $0 TOTAL OTHER FIN. SOURCES/USES $0 $0 $0 $0 $0 $0 SURPLUS / DEFICIT INCL. OTHER FIN. SOURCES $200 $787,839 $2,812,864 $4,410,956 $5,169,067 $4,709,423 BEGINNING FUND BALANCE $29,757,129 $29,757,329 $30,545,168 $33,358,033 $37,768,989 $42,938,056 PROJECTED YEAR END BALANCE $29,757,329 $30,545,168 $33,358,033 $37,768,989 $42,938,056 $47,647,479 FUND BALANCE AS % OF REVENUES 20.31% 20.51% 21.77% 23.99% 26.54% 28.67% Operating Funds: Educational, Operations & Maintenance, Transportation, IMRF, and Working Cash Funds 16

17 Historical / Projected Fund Balances Projected Year-End Balances (Educational, Operations and Maintenance, Transportation, IMRF, and Working Cash Funds.) $ $50 $47,647,479 $42,938,056 $40 $37,112,266 $37,768,989 $33,358,033 Millions $27,720,732 $30 $24,646,753 $28,087,893 $29,757,129 $29,757,329 $30,545,168 $20 $10 $8,317,452 $5,871,548 $0 ($227,519) ($10) $2,433,397 ($1,224,840) ($2,181,938) ($2,466,114) ($4,376,568) ($4,684,087) ($3,966,278) ($5,044,104) Educational Operations and Maintenance Transportation IMRF Working Cash FY End Balances Low-Point Balance 17

18 ISBE Financial Profile Watch Early Warning Review Recognition

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