in the main office and

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1 TO: DATE: FROM: Dr. Scottt Helton Board of Education September 14, 2013 Mr. Edward Hoster RE: Fiscal Year Budget and Resolution for Adoption At the June 24, 2013 Board of Education Meeting the Tentative Budgett for was presented and approved to present for public review. The public notice was published July 5, 2013 (see attached) in accordance with the thirty day requirement. In addition, copies of the budget were made available in the main office and a copy was placed on our district website. To date we have not received any inquiries regarding this proposed budget. Following the required publicc hearing session Monday, September 23, 2013, we are recommending the adoption of the attached final budget for fiscal year by approving the attached resolution. As expected there have been some updates to both the revenue and expenditure budget estimates since the tentative budget was prepared in June. The operating funds revenue budget is $63,799,761 and expenditures are estimated to be $65,405,584. The projected fund balance as of June 2014 is $40,665,932. The earlier projected operating funds deficit of $ $2,627,258 as of the tentative budget has improved to $1,605,823. (see page 1, Budget Summary of Cashh Transactions) A significant contributor to this more favorable position is $1.4M of delayed property tax collections that we will realize this fiscal year. Consequently, a more accurate measure of our use of financial reserves (deficit spending) is to look at both the previous fiscal year which ended with a $2.7M deficit and this year s budget deficit of $1.6M which combined representss $4.3M of reserves thatt we are using. (see page 1-A, Operating Funds Chart) A more detailed explanation will follow. While we all understand that the budget planning process reflects a conservative approach given the current state of the state and local economy, we are committedd to exercising strong management of the expenditures throughout the year. We are optimistic that revenue collections will meet our expectations and possibly help to minimize the use of reserves, but it is unlikely we will be able to fully cover the projected deficit. In addition, althoughh the Illinois School Code requires a balanced budget, we are within the allowable use of reserves due to our having sufficient fundd balances ass outlined in the state budget form. Consequently we are not required to submit a deficit reduction budgeting plan at this time. The primary changes to the budget since June represent $2,022,263 of additional revenue due to a combination of delayed property tax collections (June was down 3%) and increased state poverty grant funding from the general state aid formula. Property tax collections have since rebounded for the 2012 final billing so we are still using the historical 99.5% collectionn rate. Property tax revenue is up an additional $1.4M in the final budget but I caution that this is only a timing issue and not additional 1 Page

2 revenue. However, for the general state aid supplemental poverty funding we did experience an increase in our actual student count so we were approved for an additional $600,000 of assistance. Finally, as of final budget time, we did not have the final DuPage County Alternative Learning Opportunities Program (ALOP) funding for at risk students so we are using a conservative estimate for 2014, even though our attendance increased last year. The expenditure budget increased by $1.0M due to primarily the outside placement tuition for special education and alternative education programs. The actual expenditures of $4.95M for these programs in the prior year exceeded the budget by $665,000 and enrollment in these programs continues to increase. Consequently, we had to increase the budget for this coming year. The balance of budget adjustments were for staffing in the special education area and grant funded programs. This final budget reflects our best information at this time. Attached is the updated traditional Final Budget format for ease of comparison to that which was tentatively approved in June. The format was updated to include some additional measurement columns that compare this budget to the prior year to improve reader understanding of the change in terms of both dollars and percent. In addition, many other charts were added to summarize the overall budget and improve perspective as to the financial condition of the district and where resources are both coming from and going toward programs. Finally, an overview of the key budget drivers is included as a supplement to this year s recommendation. Following the public hearing, I recommend that the Board of Education approve the resolution to adopt the budget as presented and complete the following documents: 1. Signatures on the Adopted Budget form, page 2 of the resolution All Members Present 2. Signatures of the Board of Education on the official Illinois State Board of Education School District Budget Form #50-36 All Members Present 3. Certification of the Budget by the Secretary of the Board of Education page1 of budget book. 2 P age

3 3 P age HIGHLIGHTS AND KEY BUDGET DRIVERS REGARDING FINAL BUDGET FOR GENERAL The budget represents the latest known revenue and expenditure information. Overall the budget outlook continues to be challenging, due to instability and uncertainty with state funding and the ending of some grant funds. The best measure of our budget is to look at what is refered to as the Operating Funds (Education, Oper. & Maintenance, Transportation, IMRF {pension} and Working Cash Funds) as these exclude the restricted funds of Debt Service, Capital Projects and Health, Life Safety. The remainder of this report will focus on the Operating Funds. When reviewing District s Operating Funds, revenues are expected to increase by $3.6 million or 6.05% from fiscal year 2012 budget. (see page 4) This is primarily due to the delayed property tax collections of $1.4M and the increased funding for state aid poverty assistance of $600,000. Staff salaries have been increased per contractual agreements unless currently being bargained; health and dental insurance increases have been applied as well as adjustments for new participants. Staffing is down 4 teaching positions with the retirement of six staff in Expenditures are projected to increase by $2.2 million or 3.47% over the budget. (see page 6) When comparing total revenues to expenditures in the operating funds a deficit of $1.6 million is forecast in the final budget. The final budget reflects: A. Actual June 30, 2013 balances (Unaudited). B. Estimated property tax collection percentages of 53% for 2012 (September) and 49% for 2013 (June) taxes based on the percentage of 2012 taxes received in 2013 and historical trends. C. The latest available information for state/federal funding is included in the final budget. REVENUES: (see page 4) Taxes in the Operating Funds (Education, Operations & Maintenance, Transportation and IMRF) are projected to increase by 4.98% or $2.4 million. The delayed June tax collections account for approximately $1.4M additional revenue in this fiscal year, strictly due to timing only. While favorable to this fiscal year budget this was a major contributor to the prior year ending deficit of $2.7M. Property tax revenue represents 79% of our operating budget. The December 2013 tax levy will be based upon the 1.70% CPI plus an estimate for new property. New property growth is estimated to be $5M or 0.20% as was realized in the 2012 tax cycle and total property values are estimated to decline by approximately 3%. The Corporate Personal Property Replacement Tax will be $1,697,000 which reflects an increase of 8.6% or $136,000 based on information received from the Illinois Department of Revenue.

4 Investment earnings are estimated to decline to approximately 80% of what we earned in The budget includes $95,000 for an average rate of return of.20%. All state funding/grants are based on the latest information available from the state. The Illinois State Board of Education (ISBE) will continue to prorate General State Aid (GSA) funding at 89%. We qualified for $359 per student attendance day prorated down to $ This is down from the prior year at $330. GSA supplemental poverty funding increased for us by $600,000 due to an increase in the number of qualified students attending our district. In addition, the Alternative Learning Opportunities Program (ALOP) funding that funds the Achieve program should generate additional funding. At the time of this final budget we still didn t have the final budget information from the county so we are using the prior year actual level collected for a conservative estimate. Special Education funding (commonly known as Mandated Categoricals) is projected to remain level based on anticipated reimbursements provided by SASED and the State Board. State funding overall is projected to increase by 16% or $1.1M and represents 12% of our operating budget including transportation. Federal funding will drop by $273,000 or 11 % primarily due to a general decline in funding and our adjustment to the new reimbursement based funding model. This will be the second year of transition as the funding is no longer distributed on a scheduled basis but rather after we expend the funds and claim them. EXPENDITURES: (see page 6) Salaries are projected to increase by $1.0M or 2.7% with bargaining still continuing for the classified and the teacher aid employee groups. Final staffing of 533 positions includes: o Certified Staff Teachers: 280 Management: 20 o Classified Staff Clerical: 73 Student Supervisor: 19 o Teacher Aides (93) o Maintenance & Custodial (48) Benefits {medical/dental, pension and employee tuition reimbursement} are projected to decrease by $60,770 compared to budget as the prior year actual expense in this area was under expended by $384,000. In addition, our IMRF pension rate declined by 1% over the prior year and the overall expense was below budget by $230,000 in fiscal year Consequently this year s budget represents a 7% decrease. However, there were increases to our premiums in the amount of 5.1% for HMO and 0.30% for the PPO program. Dental insurance premiums also increased by 5.5% on average for the two plans. Purchased Services are projected to increase by $261,382 or 3.3% including the food service management contract with Arbor Management which is increasing 2.5%. Supplies are estimated to increase 4.9% Capital outlay is budgeted to decrease $214,589 primarily due to no bus replacement scheduled for this year. There are five (5) driver education cars scheduled and budgeted for replacement. Tuition for special education and alternative education programs is budgeted to increase by $1.4M over the prior year budget. The actual expense for these programs in fiscal year 2013 exceeded the budget by $665, P age

5 Detailed revenues and expenditure budget information by fund compared to the prior year budget is as follows: Education Fund {pages 9 through 16} The education fund revenues are projected to be $51.6 million compared to expenditures of $53.6 million forecasting an overall deficit of $2.0 million. Some of the key expense drivers are outlined below: Staffing/hiring for has been finalized and includes an overall staffing decrease for teachers by 4.0 Full Time Equivalent (FTE) positions. This was handled through not replacing all of the six retiring staff as of June Overall salaries are projected to increase by $0.8 million (2.4%) in the final budget. Teacher contract included a 1% base increase and 2.6% estimated for step. Bargaining continues for classified and teacher aides. Staff benefits are projected to increase by $146,000 or 2.85% over the prior year budget. Included in this category are medical/dental/life insurance premiums, tuition reimbursement and TRS pension expenses. Purchased Services are projected to decrease by $197,000 or 6%. Supplies are budgeted to increase slightly by $26,000 (4.5%). Capital Outlay has decreased by $50,304 or 3.09% including a slight reduction in technology. The projected Technology budget of $837,717 is based on the Technology Plan that was reviewed with the Technology Committee. The budget is down from the original estimate of $950,000 as of tentative budget. This budget includes ongoing operational expenses, purchases of computers and other equipment needed to maintain the quality of programs. Tuition expense budget for special education, vocational and alternative education programs is $5.5M as enrollment in these programs remains strong. This is an increase of $1.3M over the prior year budget or $600,000 over the prior year actual. Insurance premiums for workers compensation increased by 11.8% to $373,536 and property, casualty, liability increased by 5.4% to $215,480. These expenses are shared with the O&M Fund. Budgeted amounts for state/federal programs, grants etc. are based on the latest information available. Revenues and expenses are intended to offset each other and are outlined on pages 10 and 14 in the booklet. You will note that Project Lead the Way is a new grant this year ($10,000) to be used towards the Career and Technical Education (CTE) curriculum objectives at Willowbrook. 5 P age

6 Notes Regarding Tentative Budget Page 3 O&M FUND {pages 17 through 19} The operations and maintenance fund revenues are projected to be $6.2 M compared to expenditures of almost $6.06M forecasting an overall surplus of $277,870. The key expense drivers are outlined below: Salaries are based on the 2% increase agreed to in the contract ending June Utility costs are expected to increase by $34,000 or 2.4% with the electricity rate contract that expires December 2013 still being negotiated. At this time we know that the market is well above the expiring rate locked in two years ago. The capital outlay budget is $198,915 and includes capital equipment, the balance of building maintenance projects not funded from the Capital Projects Fund and some contingency funds for unexpected projects. The increase in Other reflects the increase for Worker s Compensation (11.8%) and property, casualty and liability insurance (5.4%) premiums. TRANSPORTATION FUND {pages 20 through 22} The transportation fund revenues are projected to be $3.5 M compared to expenditures of $3.5M forecasting an overall balanced budget. The key revenue and expense drivers are outlined below: Information for state revenue sources, based on claim submission indicates that an increase of 27.0% or $277,895 is attributed to higher reimbursements for special education transportation expenditures that occurred in Expenditures are budgeted to increase by $3,341, with the offset of no replacement buses for this year. We purchased three buses for $213,000 in fiscal year However, the contracted service budget is expected to increase by 8% overall due to both rate and increased service demand. The contracted service rate with Cottage Hill is increasing by 1.70% but the increase in special education services continues to drive most of the increase. Special education uses many other modes of transportation besides Cottage Hill as needed. 6 P age

7 Notes Regarding Tentative Budget Page 4 DEBT SERVICE FUND {page 23} Revenue and expenditures are based on the anticipated property tax revenue and required principal and interest payments on existing bonds. Debt service for principal and interest will increase by $1.5M or 48.65% to $8,792,400 IMRF/SOCIAL SECURITY FUND {page 24} The IMRF/Social Security fund revenues are projected to be $2.4 M compared to expenditures of $2.3 million forecasting an overall positive increase of $379,407. The expenditures are projected to be down compared to the prior year budget as the actual expense in the previous fiscal year was below budget by $231,000. In addition, our annual IMRF pension rate decreased by 1.09% to 11.41% of payroll. This will help us to get the fund back in balance as it has not maintained sufficient cash reserves to meet annual expenses in the recent past. This fund also covers employer portion of social security and medicare. CAPITAL PROJECTS FUND {page 25} The Capital Projects Fund will be closed out this year with the final remaining funds to be used to cover all of the roof repair work at both schools and some of the parking lot seal coating. No activity has been budgeted. WORKING CASH FUND {page 26} FIRE PREVENTION AND SAFETY FUND {page 27} No activity has been budgeted. 7 P age

8 BALANCED BUDGET LEGISLATION Public Act became effective July 1, 2006 and requires that school districts adopt a balanced budget, and if the budget is not balanced, a deficit reduction plan must be submitted to the Illinois State Board of Education. ISBE defines a balanced budget as follows: Total expenditures for the Educational, Operations & Maintenance, Transportation, and Working Cash funds will be compared to total revenues in the same funds. If the total expenditures are greater than the total revenues, the total deficit must be less than onethird of the total ending fund balance of the four funds. The balanced budget calculations for the Final Budget: Fund Excess/Deficit Projected Ending Balance Education $ (1,171,197) $25,289,973 (Technology) (837,717) (Included in Ed. Fund) O&M 277,870 6,486,215 Transportation 1,532 2,898,075 Working Cash 0 6,125,072 Total $(1,729,512) $40,799,335 A deficit reduction plan is not required by the District. (1/3 = $13,463,781) 8 P age

9 BOARD OF EDUCATION DU PAGE HIGH SCHOOL DISTRICT 88 FINAL BUDGET FOR Presented to the Board of Education September 23, FRIENDSHIP PLAZA ADDISON, ILLINOIS 60101

10 TABLE OF CONTENTS - ANNUAL BUDGET Page # Budget Summary of Cash Transactions 1 Revenue and Expenditure by Fund Comparison with Charts 2-3 Summary of Revenues by Type (Source) Compared to Prior Year Budget 4 Summary of Revenues by Type (Source) 5 Summary of Expenditures by Type (Use) Compared to Prior Year Budget 6 Summary of Expenditures by Type (Use) 7 Final Budget Summary - Expense by Program 8 Budget Summary & Detail by Fund Pages 9 to 27

11 DUPAGE HIGH SCHOOL DISTRICT 88 BUDGET SUMMARY OF CASH TRANSACTIONS Beginning Balance 7/1/13 * Educational $ 26,801,691 1 Budgeted Revenues Total Available $ 51,619,907 $ 78,421,598 2 Budgeted Expenditures Variance Estimated Balance 6/30/14 (a) $ 53,654,821 $ (2,034,914) $ 24,766,777 Operations & Maintenance 6,297,620 6,261,995 12,559,615 6,064, ,785 $ 6,495,405 Transportation 2,871,739 3,520,240 6,391,979 3,518,708 1,532 $ 2,873,271 IMR/Social Security 181,808 2,391,444 2,573,252 2,193, ,599 $ 379,407 Working Cash 6,118,897 6,175 6,125,072-6,175 $ 6,125,072 Total Operating Funds $ 42,271,755 $ 63,799,761 $ 106,071,516 $ 65,431,584 $ (1,631,823) $ 40,639,932 Net Annual Change ($1,631,823) Fund Balance as % of Budget (a) 62.11% Restricted Funds: Debt Service Fund 4,299,866 9,348,911 13,648,777 8,792, ,511 4,856,377 Capital Projects 673, , , , Fire Prevention & Safety Total All Funds (a) $ 47,245,342 $ 73,148,672 $ 120,394,014 $ 74,897,036 $ (1,748,364) $ 45,496,978 Net Annual Change in Cash ($1,748,364) 1 INCLUDES $10,000 IN TECHNOLOGY INTEREST 2 INCLUDES $837,717 TECHNOLOGY EXPENSES (a) Balance includes June (early property tax revenue) that is restricted by Board of Education resolution to not be used for current year operations. I certify that this is a true and accurate copy of the Final Budget for Dupage High School District 88 for as adopted this 23rd day of September Page 1 Sharon Kucik, Secretary Board of Education

12 DUPAGE HIGH SCHOOL DISTRICT 88 FUND REVENUES/ TRANSFERS EXPENSES/ TRANSFERS O P E R A T I N G N O N - O P E R A T I N G EDUCATIONAL $ 51,619,907 $ 53,654,821 OPERATIONS & MAINTENANCE 6,261,995 6,064,210 TRANSPORTATION 3,520,240 3,518,708 MUNICIPAL RETIREMENT (IMRF) 2,391,444 2,193,845 WORKING CASH 6,175 0 TOTAL OPERATING FUNDS WITH WORKING CASH $ 63,799,761 $ 65,431,584 DEBT SERVICE 9,348,911 8,792,400 CAPITAL PROJECTS 0 673,052 FIRE PREVENTION & SAFETY 0 0 TOTAL ALL FUNDS $ 73,148,672 $ 74,897,036 Page 2

13 DUPAGE HIGH SCHOOL DISTRICT 88 FINAL OPERATING REVENUE BUDGET BY FUND % 0% 5% 4% $51,619,907 81% EDUCATIONAL OPERATIONS & MAINTENANCE TRANSPORTATION MUNICIPAL RETIREMENT (IMRF) WORKING CASH TOTAL OPERATING REVENUE BUDGET = $63,799,761 FINAL OPERATING EXPENDITURE BUDGET BY FUND % 5.4% 3.4% EDUCATIONAL OPERATIONS & MAINTENANCE $53,654, % TRANSPORTATION MUNICIPAL RETIREMENT (IMRF) TOTAL OPERATING EXPENDITURE BUDGET = $65,431,584 Page 3

14 DUPAGE HIGH SCHOOL DISTRICT 88 SUMMARY OF BUDGET REVENUES BY SOURCE 1 COMPARED TO PRIOR FISCAL YEAR FUND PROPERTY TAXES LOCAL SOURCES STATE SOURCES FEDERAL SOURCES ALL SOURCES O P E R A T I N G EDUCATION $40,090,647 $3,127,545 $6,163,536 $2,238,179 $51,619,907 OPERATIONS & MAINTENANCE 6,009, ,050 6,261,995 TRANSPORTATION 2,199,578 6,600 1,314,062 3,520,240 MUNICIPAL RETIREMENT 2,256, ,108 2,391,444 WORKING CASH 6,175 6,175 TOTAL OPERATING FUNDS $50,556,506 $3,527,478 $7,477,598 $2,238,179 $63,799,761 FY 2012 BUDGET $48,156,227 $3,066,023 $6,424,260 $2,511,633 $60,158,143 DIFFERENCE 2,400, ,455 1,053, ,454 3,641,618 PERCENT CHANGE 4.98% 15.05% 16.40% % 6.05% 1 excludes Interfund Transfers and Contingency FINAL OPERATING REVENUE BUDGET BY TYPE (SOURCE) % 12% 3% PROPERTY TAXES $50,556,506 79% LOCAL SOURCES STATE SOURCES FEDERAL SOURCES TOTAL OPERATING REVENUE BUDGET = $63,799,761 Page 4

15 DUPAGE HIGH SCHOOL DISTRICT 88 FINAL BUDGET SUMMARY OF REVENUES BY TYPE ( SOURCE) 1 FUND PROPERTY TAXES LOCAL SOURCES STATE SOURCES FEDERAL SOURCES ALL SOURCES O P E R A T I N G O P E N R O A N T - I N G EDUCATION $40,090,647 $3,127,545 $6,163,536 $2,238,179 $51,619,907 OPERATIONS & MAINTENANCE 6,009, ,050 $6,261,995 TRANSPORTATION 2,199,578 6,600 1,314,062 3,520,240 MUNICIPAL RETIREMENT 2,256, ,108 2,391,444 WORKING CASH 0 6,175 6,175 TOTAL OPERATING FUNDS $50,556,506 $3,527,478 $7,477,598 $2,238,179 $63,799,761 DEBT SERVICE 9,345,491 3,020 9,348,511 CAPITAL PROJECTS 0 0 FIRE PREVENTION & SAFETY 0 0 TOTAL ALL FUNDS $59,901,997 $3,530,498 $7,477,598 $2,238,179 $73,148,272 1 Excludes Interfund Transfers OPERATING REVENUE BUDGET BY TYPE (SOURCE) % 12% REVENUES 6% PROPERTY TAXES $50,556,506 LOCAL SOURCES 3,527,478 STATE SOURCES 7,477,598 FEDERAL SOURCES 2,238,179 $50,556,506 79% $63,799,761 PROPERTY TAXES LOCAL SOURCES STATE SOURCES FEDERAL SOURCES TOTAL OPERATING REVENUE BUDGET = $63,799,761 Page 5

16 DUPAGE HIGH SCHOOL DISTRICT 88 SUMMARY OF BUDGET EXPENDITURES BY TYPE (USE) COMPARED TO PRIOR FISCAL YEAR 1 O P E R A T I N G FUND SALARIES EMPLOYEE BENEFITS PURCHASE SERVICES SUPPLIES CAPITAL OUTLAY DUES/FEES & TUITION GRANT PROGRAMS EDUCATIONAL $35,609,501 $5,202,591 $3,105,081 $1,366,472 $728,000 $5,433,455 $2,209,721 $53,654,821 OPER. & MAINTENANCE $2,999, ,955 1,962, , ,915 $6,064,210 TRANSPORTATION $39,000 3,102, ,335 0 $3,518,708 MUNICIPAL RETIREMENT 2,193,845 $2,193,845 TOTAL OPERATING FUNDS $38,648,129 $7,953,391 $8,170,166 $2,089,807 $926,915 $5,433,455 $2,209,721 $65,431,584 TOTAL FY 2013 BUDGET $37,636,557 $8,014,161 $7,882,784 $1,992,502 $1,141,504 $4,071,752 $2,471,039 $63,210,299 DIFFERENCE 1,011,572 60, ,382 97, ,589 1,361, ,318 2,221,285 PERCENT CHANGE 2.69% 0.76% 3.65% 4.88% 18.80% 33.44% 10.58% 3.51% 1 excludes Interfund Transfers and Contingency FINAL OPERATING EXPENDITURE BUDGET BY TYPE (USE) % 12% sal+ben change 2% SALARIES $38,648,129 $37,636,557 $46,601,520 $45,650, % EMPLOYEE BENEFITS $7,953,391 $8,014,161 71% 72% -1.00% 3% PURCHASE SERVICES $8,170,166 $7,882,784 SUPPLIES 8% 3% $2,089,807 $1,992,502 CAPITAL OUTLAY $926,915 $1,141,504 Dues/Fees & Tuition $5,433,455 $4,071,752 SALARIES GRANT PROGRAMS $2,209,721 $2,471,039 EMPLOYEE BENEFITS TOTAL $65,431,584 $63,210,299 PURCHASE SERVICES $38,648,129 SUPPLIES 59% CAPITAL OUTLAY Dues/Fees & Tuition GRANT PROGRAMS Total Salaries + Benefits = 71% of Operating Budget Page 6

17 DUPAGE HIGH SCHOOL DISTRICT 88 SUMMARY OF EXPENSES BY TYPE (OBJECT) 1 FUND SALARIES EMPLOYEE BENEFITS PURCHASE SERVICES SUPPLIES CAPITAL OUTLAY DUES/FEES & TUITION GRANT PROGRAMS DEBT SERVICE TOTAL O P E R A T I N G EDUCATIONAL $35,609,501 $5,202,591 $3,105,081 $1,366,472 $728,000 $5,433,455 $2,209,721 $53,654,821 OPER. & MAINTENANCE 2,999, ,955 1,962, , , $6,064,210 TRANSPORTATION 39, ,102, ,335 0 $3,518,708 MUNICIPAL RETIREMENT 2,193,845 $2,193,845 TOTAL OPERATING FUNDS $38,648,129 $7,953,391 $8,170,166 $2,089,807 $926,915 $5,433,455 $2,209,721 $65,431,584 O P E N R O A N T - I N G DEBT SERVICE 8,792,400 $8,792,400 CAPITAL PROJECTS 673, ,052 FIRE PREVENTION & SAFETY 0 TOTAL ALL FUNDS $38,648,129 $7,953,391 $8,170,166 $2,089,807 $1,599,967 $5,433,455 $2,209,721 $8,792,400 $74,897,036 1 excludes Interfund Transfers and Contingency EXPENDITURE BUDGET BY TYPE (OBJECT) % 2% 7% 3% 12% SALARIES EMPLOYEE BENEFITS PURCHASE SERVICES SUPPLIES 11% 11% $38,648,129 51% CAPITAL OUTLAY DUES/FEES & TUITION GRANT PROGRAMS DEBT SERVICE Page 7

18 DUPAGE HIGH SCHOOL DISTRICT FINAL BUDGET SUMMARY EXPENSE BY PROGRAM - EDUCATION FUND PROGRAM BUDGET 1 PERCENT OF BUDGET INSTRUCTION $35,022, % PUPIL SUPPORT $6,336, % INSTRUCTIONAL SUPPORT $2,131, % ADMINISTRATIVE SUPPORT $7,117, % GRANTS/SPECIAL PROGRAMS $3,047, % TOTAL EDUCATION FUND BUDGET 1 $53,654, % 1 excludes Interfund Transfers and Contingency 4% 13% 6% INSTRUCTION 12% 65% PUPIL SUPPORT INSTRUCTIONAL SUPPORT ADMINISTRATIVE SUPPORT GRANTS/SPECIAL PROGRAMS Total Instructional Budget Allocation = 69.2% Page 8

19 EDUCATIONAL FUND Change Adopted Budget REVENUE BUDGET PROPERTY TAX Back Taxes (2011 and Prior Levies) expected to be received during the current year $ 5,000 $ 5,000 Final Budget $ % 2012 Property Tax 18,858,803 20,468, Property Tax 18,767,279 18,965, Property Tax, Special Education 322, , Property Tax, Special Education 310, ,153 Total Property Tax Revenue $ 38,264,398 $ 40,090,647 $ 1,826, % Corporate Personal Property Replacement Tax - Amount estimated to be received of $1,697,258 less amount to be distributed to IMRF Fund ($133,233) 1,173,739 1,564,025 Tuition (Summer School) 25,000 36,000 Investment Earnings 104,731 70,000 Food Services 647, ,211 Pupil Activities (Ath $45,000; Fee Cards $329,338; Bookstore Supplies $41,491, Partic Fee $122,438) 519, ,267 Textbooks 264, ,542 Other ( Dr. Ed. Other Districts $23,500 ) 37,000 32,500 TOTAL LOCAL SOURCES $ 41,035,768 $ 43,218,192 $ 2,182, % Page 9

20 REVENUE BUDGET (cont'd) Change Adopted Budget Final Budget $ % STATE SOURCES General State Aid $ 2,970,343 $ 3,441, , % Special Education State Aid 2,092,883 2,424, , % Career and Technology Education Grant 65,032 56,709 (8,323) -12.8% Driver Education 138, ,984 (18,016) -13.1% State Lunch 26,000 17,913 (8,087) -31.1% Bilingual Education (TBE & TPI) 92, ,409 7, % Library Grant 3,086 3, % TOTAL STATE SOURCES $ 5,388,093 $ 6,163,536 $ 775, % FEDERAL SOURCES Federal Lunch/Breakfast 565, ,073 10, % Medicaid Reimbursement 233, ,134 70, % IASA Title I Low Income 457, ,256 (68,690) -15.0% IASA Title II (Dwight D. Eisenhower Prof. Dev. Program) 96,439 94,600 (1,839) -1.9% IASA Title III (Limited English Proficiency) 18,600 23,786 5, % IDEA B Flow Through 1,054, ,824 (289,151) -27.4% Carl Perkins Vocational 53,324 48,392 (4,932) -9.2% Project Lead the Way (CTE) - 10,000 10,000 Dept. of Rehabilitation Services (DORS) 15,370 28,114 12, % Smaller Learning Communities - Willowbrook 16,979 - (16,979) % TOTAL FEDERAL SOURCES $ 2,511,633 $ 2,238,179 (273,454) -10.9% PERMANENT TRANSFER Interest from Other Funds 55,293 - (55,293) % TOTAL REVENUES AVAILABLE $ 48,990,787 $ 51,619,907 $ 2,629, % Page 10

21 EXPENDITURE BUDGET (cont'd) Adopted Budget LOCAL USE INSTRUCTION (incl. Dr. Educ & ESL) Regular Programs Salaries 15,517,273 Change Final Budget $ % $ 16,501, , % Benefits 2,975,468 2,782,404 (193,064) -6.5% Purchased Services 154, , % Supplies 547, ,500 31, % Capital Outlay 71,017 93,569 22, % Other 28,000 27,000 (1,000) -3.6% Tuition 243, ,860 3, % $ 19,537,036 $ 20,383,890 $ 846, % Special Education Programs Salaries $ 3,870,288 3,883,322 13, % Benefits 735, , % Purchased Services 10,000 36,000 26, % Supplies 7,100 7, % Capital Outlay 0-3,800,000 5,159,595 1,359, % $ 8,422,698 $ 9,822,048 $ 1,399, % Community Relations Program Salaries $ 1,000 $ 0 (1,000) % Benefits 0 0 Purchased Services 1,000 - (1,000) % Supplies % $ 2,250 $ 250 $ (2,000) -88.9% Vocational Programs Salaries $ 1,526,360 $ 1,561,811 35, % Benefits 211, ,827 (13,686) -6.5% Purchased Services 0 0 Supplies 30,000 30, % Capital Outlay 0 0 $ 1,767,873 $ 1,789,638 $ 21, % Page 11

22 EXPENDITURE BUDGET (cont'd) Adopted Budget Change Final Budget $ % Interscholastic Programs Salaries $ 2,046,060 $ 2,204, , % Benefits 42,668 43,893 1, % Purchased Services 248, ,000 (9,000) -3.6% Supplies 102, , % Capital Outlay 0 3,500 $ 2,438,728 $ 2,592,393 $ 153, % Summer School Program Salaries $ 30,000 $ 40,000 10, % Benefits 3,606 - (3,606) % Purchased Services 0 - Supplies 5,000 5, % Capital Outlay 0 0 $ 38,606 $ 45,100 $ 6, % Alternative School Program {shifted salaries for Achieve prog. Back to Instruction FY14 } Salaries $ 771,028 $ 195,771 (575,257) -74.6% Benefits 90, ,502 95, % Purchased Services - - Supplies 7,500 8, % Capital Outlay 0 0 $ 868,628 $ 389,273 $ (479,355) -55.2% TOTAL INSTRUCTION $ 33,075,819 $ 35,022,592 $ 1,946, % SUPPORT SERVICES Support Services - Pupil Salaries $ 5,277,022 $ 5,511, , % Benefits 421, , , % Purchased Services 191, ,000 39, % Supplies 18,000 18, % Capital Outlay 0 0 $ 5,908,345 $ 6,336,186 $ 427, % Page 12

23 Change EXPENDITURE BUDGET Adopted Budget Final Budget $ % Support Services - Instructional Staff Salaries $ 639,131 $ 638,783 (348) -0.1% Benefits 115, ,142 (9,381) -8.1% Purchased Services 66,000 80,000 14, % Supplies 131, ,400 24, % Capital Outlay 0 0 $ 952,054 $ 980,325 $ 28, % Support Services - General Administration Salaries $ 295,403 $ 310,000 14, % Benefits 31,676 28,250 (3,426) -10.8% Purchased Services 376, ,200 29, % Supplies 5,750 7,000 1, % Capital Outlay 0 0 Other(Insurance) 375, ,772 55, % $ 1,084,587 $ 1,182,222 $ 97, % Support Services- School Administration Salaries $ 3,192,442 $ 3,274,955 82, % Benefits 267, ,764 48, % Purchased Services 3,000 3, % Supplies 361, ,522 (10,000) -2.8% Capital Outlay 20,000 17,931 (2,069) -10.3% $ 3,843,968 $ 3,963,972 $ 120, % General Admin. Purch. Services Includes: Board of Ed. $5,000 Supt. Office $22,000 Advertising $6,000 Other 131,000 Legal $85,000 Marketing $5,000 Printing $9,000 Audit $32,000 Postage $105,000 Pub. Rel. $5,000 General Admin. Other Includes: Insurance Property, Liability etc. $350,772 Unempl. Exp. $80,000 Support Services - Business Salaries $ 759,723 $ 755,700 (4,023) -0.5% Benefits 117, , % Purchased Services 1,069,500 1,078,170 8, % Supplies 18,980 19, % Capital Outlay 0 0 Other 0 0 $ 1,965,581 $ 1,971,220 $ 5, % Page 13

24 EXPENDITURE BUDGET (cont'd) Change Adopted Budget Final Budget $ % Support Services - Central Salaries $ 741,256 $ 732,400 (8,856) -1.2% Benefits 101, ,570 12, % Purchased Services 203, ,896 (34,069) -16.7% Supplies 56,000 64,000 8, % Capital Outlay 35,000 35, % Capital Outlay - Special Projects 36,000 36, % $ 1,173,737 $ 1,150,866 (22,871) -1.9% TOTAL SUPPORT $ 14,928,272 $ 15,584, , % TOTAL EXPENDITURES (LOCAL SOURCES), BUDGET $ 48,004,091 $ 50,607,383 $ 2,603, % Other- Grants, Special Programs: Fee Cards $ 182,900 $ 189,859 6, % Project Lead The Way - 10,000 10,000 Career and Technology Education Grant 65,032 56,709 (8,323) -12.8% Vocational Education General 178, ,943 19, % Carl Perkins/Vocational Education D & H 55,896 52,030 (3,866) -6.9% Dept. of Rehabilitation Services (DORS) 15,370 28,114 12, % IASA Title I Low Income 457, ,564 (37,382) -8.2% IDEA B Flow Through 1,054, ,334 (294,641) -27.9% Bilingual Education (TBE & TPI) 92, ,409 7, % IASA Title II (Dwight D. Eisenhower Prof. Dev. Program) 96, ,846 19, % Library Grant 3,086 3, % Medicaid 233, ,041 18, % IASA Title III (Limited English Proficiency) 18,600 23,786 5, % Smaller Learning Communities - Willowbrook 16,979 - (16,979) % Total Other- Grants, Special Programs: $ 2,471,039 $ 2,209,721 (261,318) -10.6% TOTAL EXPENDITURES (ALL SOURCES), BUDGET $ 50,475,130 $ 52,817,104 $ 2,341, % Page 14

25 TECHNOLOGY (informational purposes only) Adopted Budget Final Budget BALANCE, JULY 1, $ 2,674,050 $ 1,767,522 REVENUE BUDGET Investment Earnings 15,272 10,000 TOTAL REVENUES $ 15,272 $ 10,000 TOTAL AMOUNT AVAILABLE $ 2,689,322 $ 1,777,522 TOTAL EXPENDITURE BUDGET 1,000, ,717 BALANCE, RESERVED FOR TECHNOLOGY JUNE 30, 2014 $ 1,689,322 $ 939,805 This report tracks the funding for technology that was allocated from the Series 2005 Bond proceeds - all is included in the Education Fund Page 15

26 EDUCATIONAL FUND RECAP BALANCE, JULY 1, 2013 $ 26,801,691 REVENUE BUDGET Local Sources (includes 53.5% of 2012 Taxes and 48% of 2013 Taxes) $ 43,218,192 State Sources 6,163,536 Federal Sources 2,238,179 Interest from Other Funds - TOTAL REVENUE BUDGET 51,619,907 TOTAL AMOUNT AVAILABLE $ 78,421,598 EXPENDITURE BUDGET Expenditures for Operations 52,817,104 FUND BALANCE JUNE 30, 2014 {before Technology Expenditure} $ 25,604,494 Revenues for Operations $ 51,619,907 Annual Expenditures 52,817,104 Balance (Deficit) $ (1,197,197) LESS, TECHNOLOGY EXPENDITURE BUDGET 837,717 BALANCE (DEFICIT) {Net of Technology Funded from Bonds Series 2005} =>>> (837,717) BALANCE OF EDUCATIONAL FUND INCLUDING TECHNOLOGY EXPENDITURES, JUNE 30, 2014 $ 24,766,777 Note 1 : draw down of fund balance reserves includes planned / funded technology program investment with Working Cash Funding Bonds Series 2005 Note 2 : fund balance reserves include student activity ($917,285) and remaining self insurance program ($1,077,340) balances as of June 30, 2013 Page 16

27 OPERATIONS & MAINTENANCE FUND Change REVENUE BUDGET LOCAL SOURCES TAXES Adopted Budget Final Budget $ % Back Taxes (2011 and Prior Levies) expected to be received during the current year $ 1,000 $ 1, Property Tax 3,018,667 3,162, Property Tax 2,996,368 2,846,415 TOTAL PROPERTY TAX $ 6,016,035 $ 6,009,945 $ (6,090) -0.10% Investment Earnings 18,200 9,500 E-Rate Funds 45,213 96,000 Other Local Revenues 57, ,550 TOTAL LOCAL SOURCES $ 6,136,448 $ 6,261,995 $ 125, % TOTAL REVENUES AVAILABLE $ 6,136,448 $ 6,261,995 $ 125, % Page 17

28 OPERATIONS & MAINTENANCE FUND EXPENDITURE BUDGET Adopted Budget Change Final Budget $ % Support Services: Salaries $ 2,930,571 $ 2,999,628 $ 69, % Electricity-960,000 Heating-192,000 Benefits 529, ,955 $ 27, % Telephone-165,000 Water-149,500 Purchased Services 1,675,700 1,697,367 $ 21, % Cafeteria-14,000 Cust. Maint-147,367 Supplies 322, ,000 $ 24, % Refuse Disp.-69,500 Capital Outlay - Regular 50,000 40,000 $ (10,000) % Capital Outlay - Special Projects 85, ,915 $ 18, % Capital Outlay - Building Improvements 30,000 55,000 $ 25, % Insurance-263,345 Other (insurance) 238, ,345 $ 26, % Unemp. Comp.-2,000 TOTAL SUPPORT $ 5,861,414 $ 6,064,210 $ 202, % OTHER FINANCIAL USES: Transfer to Other Funds $ - $ - Permanent Transfer of Interest $ 18,200 $ - TOTAL EXPENDITURE BUDGET $ 5,879,614 $ 6,064,210 $ 184, % Page 18

29 OPERATIONS & MAINTENANCE FUND RECAP BALANCE, JULY 1, 2013 $ 6,297,620 REVENUE BUDGET Local Sources (includes 53.5% of 2012 Taxes and 48% of 2013 Taxes) TOTAL PROPERTY TAX $ 6,009,945 Investment Earnings 9,500 Other Local Sources 146,550 E-Rate Funding 96,000 Other Financing Sources - $ 6,261,995 TOTAL REVENUE BUDGET 6,261,995 TOTAL AMOUNT AVAILABLE $ 12,559,615 EXPENDITURE BUDGET Total Support Expenditures $ 6,064,210 Permanent Transfer of Interest - Transfer to Other Funds - $ 6,064,210 TOTAL EXPENDITURE BUDGET $ 6,064,210 Other Financing Sources: Transfer of Fund Balance to Capital Projects - BALANCE (DEFICIT) $ 6,495,405 Revenues for Operations $ 6,261,995 Annual Expenditures (excluding Special Projects) 5,880,210 Annual Operational Balance (Surplus/Deficit) (excluding Special Projects) $ 381,785 Special Projects $ 103,915 Balance (Deficit) $ 277,870 Page 19

30 TRANSPORTATION FUND Change REVENUE BUDGET LOCAL SOURCES PROPERTY TAX REVENUE Adopted Budget Final Budget $ % Back Taxes (2011 and Prior Levies) expected to be received during the current year $ 1,000 $ Property Tax 1,015,970 1,115, Property Tax 1,021,281 1,084,124 TOTAL PROPERTY TAX REVENUE $ 2,038,251 $ 2,199,578 Investment Earnings 12,860 6,600 TOTAL LOCAL SOURCES $ 2,051,111 $ 2,206,178 $ 155, % STATE SOURCES Regular/Vocational Transportation $ 98,852 $ 100,074 $ 1, % Special Education Transportation 937,315 1,213,988 $ 276, % TOTAL STATE SOURCES $ 1,036,167 $ 1,314,062 $ 277, % TOTAL REVENUES AVAILABLE $ 3,087,278 $ 3,520,240 $ 432, % Page 20

31 EXPENDITURE BUDGET TRANSPORTATION FUND Adopted Budget Change Final Budget $ % INSTRUCTION Regular Programs $ 54,500 $ 48,000 Special Education Programs 1,346,000 1,616,067 Vocational Programs 8,200 7,000 Other Instructional Programs 181, ,000 $ 1,590,300 $ 1,865,067 $ 274, % SUPPORT Business Administration Support Salaries $ 39,000 $ 39,000 Benefits 0 - Purchased Services 1,280,000 1,237,306 Supplies 380, ,335 Capital Outlay 213,207 - TOTAL $ 1,912,207 $ 1,653,641 $ (258,566) % OTHER FINANCIAL USES: Transfer to Other Funds Permanent Transfer of Interest 12,860 - TOTAL EXPENDITURE BUDGET $ 3,515,367 $ 3,518,708 $ 3, % Page 21

32 TRANSPORTATION FUND RECAP BALANCE, JULY 1, 2013 $ 2,871,739 REVENUE BUDGET Local Sources (includes 53.5% of 2012 Taxes and 48% of 2013 Taxes) $ 2,199,578 Investment Earnings 6,600 State Sources 1,314,062 $ 3,520,240 TOTAL REVENUE BUDGET $ 3,520,240 TOTAL AMOUNT AVAILABLE $ 6,391,979 EXPENDITURE BUDGET Instruction $ 1,865,067 Support 1,653,641 Transfer of Investment Earnings - $ 3,518,708 TOTAL EXPENDITURE BUDGET $ 3,518,708 BALANCE (DEFICIT) $ 2,873,271 Revenues for Operations $ 3,520,240 Annual Expenditures 3,518,708 Annual Operating Balance (Deficit) $ 1,532 Page 22

33 DEBT SERVICE FUND Adopted Budget Change Final Budget $ % BALANCE, JULY 1, 2013 $ 3,173,103 $ 4,299,866 REVENUE BUDGET Local Sources Back Taxes (2011 and Prior Levies) expected to be received during the 1,300 $ 400 current year 2012 Taxes $ 3,267,149 4,750, Taxes 3,109,898 4,595,288 Investment Earnings 5,880 3,020 TOTAL REVENUE BUDGET $ 6,384,227 $ 9,348,911 $ 2,964, % TOTAL AMOUNT AVAILABLE $ 9,557,330 $ 13,648,777 $ 4,091, % EXPENDITURE BUDGET Principal Expense $ 840,000 $ 3,365,000 Interest Expense 5,441,250 5,424,200 Other Fees 3,200 3,200 $ 6,284,450 $ 8,792,400 OTHER FINANCIAL USES: Transfer to Other Funds Permanent Transfer of Interest 5,880 - TOTAL EXPENDITURE BUDGET $ 6,290,330 $ 8,792,400 $ 2,502, % BALANCE (DEFICIT) $ 3,267,000 $ 4,856,377 $ 1,589, % Page 23

34 ILLINOIS MUNICIPAL RETIREMENT/SOCIAL SECURITY Change Adopted Budget Final Budget $ % BALANCE, JULY 1, 2013 $ 456,209 $ 181,808 REVENUE BUDGET Local Sources Back Taxes (2011 and Prior Levies) expected to be received during the 400 $ 200 current year 2012 Taxes IMRF $ 478, , Taxes IMRF 468, , Taxes SOC. SEC. / MEDICARE 440, , Taxes SOC. SEC. / MEDICARE 450, ,571 TOTAL PROPERTY TAX $ 1,837,543 $ 2,256,336 $ 418, % Corporate Personal Property Replacement Tax 84, ,233 Investment Earnings 3,447 1,875 TOTAL REVENUE BUDGET $ 1,925,277 $ 2,391,444 $ 466, % TOTAL AMOUNT AVAILABLE $ 2,381,486 $ 2,573,252 $ 191, % EXPENDITURE BUDGET Expenditures for Operation $ 2,371,248 $ 2,193,845 $ (177,403) -7.48% BALANCE (DEFICIT) $ 10,238 $ 379,407 $ 369, % Page 24

35 CAPITAL PROJECTS FUND Change Adopted Budget Final Budget $ % BALANCE, JULY 1, 2013 $ 1,395,537 $ 673,062 REVENUE BUDGET Investment Earnings 2,000 - Other Revenue 150,000 - OTHER FINANCIAL SOURCES: Transfers from O&M Fund - - TOTAL REVENUE BUDGET $ 152,000 $ 0 TOTAL AMOUNT AVAILABLE $ 1,547,537 $ 673,062 $ (874,475) % EXPENDITURE BUDGET Construction Services $ 859,792 $ 673,052 Other-Prior Year Expenditures - 0 OTHER FINANCIAL USES: Transfer to Other Funds Permanent Transfer of Interest to Oper. & Maint. Fund - - TOTAL EXPENDITURE BUDGET $ 859,792 $ 673,052 $ (186,740) % BALANCE (DEFICIT) $ 687,745 $ 10 $ (687,735) % Page 25

36 WORKING CASH FUND Change Adopted Budget Final Budget $ % BALANCE, JULY 1, 2013 $ 6,118,897 $ 6,118,897 REVENUE BUDGET 2012 Property Tax Property Tax - - Investment Earnings $ 6,800 $ 6,175 TOTAL $ 6,800 $ 6,175 TOTAL AMOUNT AVAILABLE $ 6,125,697 $ 6,125,072 $ (625) -0.01% EXPENDITURE BUDGET 0 0 OTHER FINANCIAL USES: TRANSFER TO OTHER FUNDS: Permanent Transfer Working Cash Interest $ 6,800 $ - TOTAL EXPENDITURE BUDGET $ 6,800 $ - BALANCE (DEFICIT) $ 6,118,897 $ 6,125,072 $ 6, % Page 26

37 FIRE PREVENTION & SAFETY FUND Adopted Budget Final Budget BALANCE, JULY 1, 2013 $ 428 $ 659 REVENUE BUDGET 2012 Property Tax Property Tax - - Investment Earnings $ - $ - TOTAL REVENUE BUDGET $ - $ - TOTAL AMOUNT AVAILABLE $ 428 $ 659 TOTAL EXPENDITURE BUDGET - - BALANCE (DEFICIT) $ 428 $ 659 Page 27