PRELIMINARY GENERAL FUND BUDGET

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1 LEA Name : Abington SD Class : 2 AUN Number : County : Montgomery PRELIMINARY GENERAL FUND BUDGET Fiscal Year Addendum No General Fund Budget Approval Date of Adoption of the General Fund Budget: 02/05/2019 President of the Board - Original Signature Required Date Secretary of the Board - Original Signature Required Date Chief School Administrator - Original Signature Required Date Christopher Lionetti (215) Extn : Contact Person Telephone Extension lionca@abington.k12.pa.us Address Printed 1/30/ :51:24 AM Page 1

2 Preliminary General Fund Budget Validations Printed 1/30/ :51:25 AM Page - 1 of 1 Val Number Description Justification 8150 Ending Fund Balance Entry and Budgetary Reserve: If 0830 Committed Fund Balance is not equal to 0, a justification must be entered below. For anticipated benefits for employees and for capital projects. Page 2

3 Preliminary General Fund Budget Estimated Revenues and Other Financing Sources: Budget Summary Printed 1/30/ :51:26 AM Page - 1 of 1 ITEM AMOUNTS Estimated Beginning Unreserved Fund Balance Available for Appropriation and Reserves Scheduled For Liquidation During The Fiscal Year 0810 Nonspendable Fund Balance 393, Restricted Fund Balance 0830 Committed Fund Balance 34,399, Assigned Fund Balance 0850 Unassigned Fund Balance Total Estimated Beginning Unreserved Fund Balance Available for Appropriation and Reserves Scheduled For Liquidation During The Fiscal Year $34,399,788 Estimated Revenues And Other Financing Sources 6000 Revenue from Local Sources 120,101, Revenue from State Sources 35,614, Revenue from Federal Sources 1,253, Other Financing Sources Total Estimated Revenues And Other Financing Sources $156,969,361 Total Estimated Fund Balance, Revenues, and Other Financing Sources Available for Appropriation $191,369,149 Page 3

4 Preliminary General Fund Budget Estimated Revenues and Other Financing Sources: Detail Printed 1/30/ :51:27 AM Page - 1 of 1 Amount REVENUE FROM LOCAL SOURCES 6111 Current Real Estate Taxes 107,960, Interim Real Estate Taxes 95, Public Utility Realty Taxes 110, Payments in Lieu of Current Taxes - State / Local 75, Current Act 511 Taxes - Proportional Assessments 8,700, Delinquencies on Taxes Levied / Assessed by the LEA 1,500, Earnings on Investments 400, Revenues from Intermediary Sources / Pass-Through Funds 1,162, Rentals 75, Tuition from Patrons 22, Refunds and Other Miscellaneous Revenue 1,500 REVENUE FROM LOCAL SOURCES $120,101,066 REVENUE FROM STATE SOURCES 7110 Basic Education Funding 6,880, Tuition for Orphans Subsidy 200, Special Education funds for School-Aged Pupils 3,441, Pupil Transportation Subsidy 591, Nonpublic and Charter School Pupil Transportation Subsidy 394, Rental and Sinking Fund Payments / Building Reimbursement Subsidy 450, Health Services (Medical, Dental, Nurse, Act 25) 175, State Property Tax Reduction Allocation 5,312, PA Accountability Grants 401, State Share of Social Security and Medicare Taxes 3,240, State Share of Retirement Contributions 14,527,006 REVENUE FROM STATE SOURCES $35,614,354 REVENUE FROM FEDERAL SOURCES 8513 IDEA, Section 619 2, NCLB, Title I - Improving the Academic Achievement of the 692,475 Disadvantaged 8515 NCLB, Title II - Preparing, Training and Recruiting High Quality 175,637 Teachers and Principals 8516 NCLB, Title III - Language Instruction for Limited English Proficient and 37,235 Immigrant Students 8517 NCLB, Title IV - 21St Century Schools 45, School-Based Access Medicaid Reimbursement Program (SBAP) Reimbursements (Access) 300,000 REVENUE FROM FEDERAL SOURCES $1,253,941 TOTAL ESTIMATED REVENUES AND OTHER SOURCES 156,969,361 Page 4

5 Preliminary General Fund Budget Real Estate Tax Rate (RETR) Report AUN: Abington SD Printed 1/30/ :51:28 AM Multi-County Rebalancing Based on Methodology of Section of School Code Page - 1 of 3 Act 1 Index (current): 2.3% Calculation Method: Rate Approx. Tax Revenue from RE Taxes: $107,960,024 Amount of Tax Relief for Homestead Exclusions $5,312,591 Total Approx. Tax Revenue: $113,272,615 Approx. Tax Levy for Tax Rate Calculation: $116,169,301 Montgomery Total Data a. Assessed Value $3,585,725,824 $3,585,725,824 b. Real Estate Mills I Data c STEB Market Value $5,453,645,760 $5,453,645,760 d. Assessed Value $3,574,440,029 $3,574,440,029 e. Assessed Value of New Constr/ Renov $0 $ Calculations f Tax Levy $113,918,509 $113,918,509 (a * b) Calculations II. g. Percent of Total Market Value % % h. Rebalanced Tax Levy $113,918,509 $113,918,509 (f Total * g) i. Base Mills Subject to Index (h / a * 1000) if no reassessment (h / (d-e) * 1000) if reassessment Calculation of Tax Rates and Levies Generated j. Weighted Avg. Collection Percentage % % k. Tax Levy Needed $116,169,301 $116,169,301 III. (Approx. Tax Levy * g) l Real Estate Tax Rate (k / d * 1000) m. Tax Levy Generated by Mills $116,169,301 $116,169,301 (l / 1000 * d) n. Tax Levy minus Tax Relief for Homestead Exclusions $110,856,710 (m - Amount of Tax Relief for Homestead Exclusions) o. Net Tax Revenue Generated By Mills $107,960,024 (n * Est. Pct. Collection) Page 5

6 Preliminary General Fund Budget Real Estate Tax Rate (RETR) Report AUN: Abington SD Printed 1/30/ :51:28 AM Multi-County Rebalancing Based on Methodology of Section of School Code Page - 2 of 3 Act 1 Index (current): 2.3% Calculation Method: Rate Approx. Tax Revenue from RE Taxes: $107,960,024 Amount of Tax Relief for Homestead Exclusions $5,312,591 Total Approx. Tax Revenue: $113,272,615 Approx. Tax Levy for Tax Rate Calculation: $116,169,301 Montgomery Total Index Maximums p. Maximum Mills Based On Index (i * (1 + Index)) q. Mills In Excess of Index (if (l > p), (l - p)) r. Maximum Tax Levy Based On Index $116,171,803 $116,171,803 IV. (p / 1000 * d) s. Millage Rate within Index? Yes (If l > p Then No) t. Tax Levy In Excess of Index $0 $0 (if (m > r), (m - r)) u.tax Revenue In Excess of Index $0 $0 (t * Est. Pct. Collection) Information Related to Property Tax Relief V. Assessed Value Exclusion per Homestead $0.00 Number of Homestead/Farmstead Properties Median Assessed Value of Homestead Properties $0 Page 6

7 Preliminary General Fund Budget Real Estate Tax Rate (RETR) Report AUN: Abington SD Printed 1/30/ :51:28 AM Multi-County Rebalancing Based on Methodology of Section of School Code Page - 3 of 3 Act 1 Index (current): 2.3% Calculation Method: Rate Approx. Tax Revenue from RE Taxes: $107,960,024 Amount of Tax Relief for Homestead Exclusions $5,312,591 Total Approx. Tax Revenue: $113,272,615 Approx. Tax Levy for Tax Rate Calculation: $116,169,301 Montgomery Total State Property Tax Reduction Allocation used for: Homestead Exclusions $5,312,591 Lowering RE Tax Rate $0 $5,312,591 Prior Year State Property Tax Reduction Allocation used for: Homestead Exclusions $0 $0 Amount of Tax Relief from State/Local Sources $5,312,591 Page 7

8 Preliminary General Fund Budget Local Education Agency Tax Data REAL ESTATE, PER CAPITA (SEC. 679), EIT/PIT (ACT 1), LOCAL ENABLING (ACT 511) Printed 1/30/ :51:30 AM Page - 1 of 1 CODE 6111 Current Real Estate Taxes County Name Taxable Assessed Value Real Estate Mills Tax Levy Generated by Mills Amount of Tax Relief for Homestead Exclusions Tax Levy Minus Homestead Exclusions Percent Collected Montgomery 3,574,440, ,169, % Net Tax Revenue Generated By Mills Totals: 3,574,440, ,169,301-5,312,591 = 110,856,710 X % = 107,960,024 Rate Estimated Revenue 6120 Current Per Capita Taxes, Section 679 $ Current Act 511 Taxes Flat Rate Assessments Rate Add'l Rate (if appl.) Tax Levy Estimated Revenue 6141 Current Act 511 Per Capita Taxes $0.00 $ Current Act 511 Occupation Taxes Flat Rate $0.00 $ Current Act 511 Local Services Taxes $0.00 $ Current Act 511 Trailer Taxes $0.00 $ Current Act 511 Business Privilege Taxes Flat Rate $0.00 $ Current Act 511 Mechanical Device Taxes Flat Rate $0.00 $ Current Act 511 Taxes, Other Flat Rate Assessments $0.00 $ Total Current Act 511 Taxes Flat Rate Assessments Current Act 511 Taxes Proportional Assessments Rate Add'l Rate (if appl.) Tax Levy Estimated Revenue 6151 Current Act 511 Earned Income Taxes 0.500% 0.000% 7,200,000 7,200, Current Act 511 Occupation Taxes Current Act 511 Real Estate Transfer Taxes 0.500% 0.000% 1,500,000 1,500, Current Act 511 Amusement Taxes 0.000% 0.000% Current Act 511 Business Privilege Taxes Current Act 511 Mechanical Device Taxes Percentage 0.000% 0.000% Current Act 511 Mercantile Taxes Current Act 511 Taxes, Other Proportional Assessments Total Current Act 511 Taxes Proportional Assessments 8,700,000 8,700,000 Total Act 511, Current Taxes 8,700,000 Act 511 Tax Limit --> 5,453,645,760 X 12 65,443,749 Market Value Mills (511 Limit) Page 8

9 Preliminary General Fund Budget Comparison of Tax Rate Changes to Index Printed 1/30/ :51:31 AM Page - 1 of 1 Tax Functio n Description Tax Rate Charged in: Additional Tax Rate Percent Less than Charged in: Change in or equal to Index Rate Index (Rebalanced) (Rebalanced) Percent Change in Rate Less than or equal to Index 6111 Current Real Estate Taxes Montgomery % Yes 2.3% Current Act 511 Taxes Proportional Assessments 6151 Current Act 511 Earned Income Taxes 0.500% 0.500% 0.00% Yes 2.3% 6153 Current Act 511 Real Estate Transfer Taxes 0.500% 0.500% 0.00% Yes 2.3% Page 9

10 Preliminary General Fund Budget Estimated Expenditures and Other Financing Uses: Budget Summary Printed 1/30/ :51:32 AM Page - 1 of 1 Description Amount 1000 Instruction 1100 Regular Programs - Elementary / Secondary 74,414, Special Programs - Elementary / Secondary 21,359, Vocational Education 1,397, Other Instructional Programs - Elementary / Secondary 242,212 Total Instruction $97,413, Support Services 2100 Support Services - Students 6,976, Support Services - Instructional Staff 6,300, Support Services - Administration 9,453, Support Services - Pupil Health 2,401, Support Services - Business 2,424, Operation and Maintenance of Plant Services 16,169, Student Transportation Services 8,829, Support Services - Central 3,459, Other Support Services 107,200 Total Support Services $56,122, Operation of Non-Instructional Services 3200 Student Activities 1,706, Community Services 408,475 Total Operation of Non-Instructional Services $2,115, Other Expenditures and Financing Uses 5100 Debt Service / Other Expenditures and Financing Uses 8,341, Interfund Transfers - Out 1,708,612 Total Other Expenditures and Financing Uses $10,049,927 Total Estimated Expenditures and Other Financing Uses $165,701,098 Page 10

11 Preliminary General Fund Budget Estimated Expenditures and Other Financing Uses: Detail Printed 1/30/ :51:35 AM Page - 1 of 4 Description Amount 1000 Instruction 1100 Regular Programs - Elementary / Secondary 100 Personnel Services - Salaries 44,692, Personnel Services - Employee Benefits 27,635, Purchased Professional and Technical Services 114, Purchased Property Services 57, Other Purchased Services 904, Supplies 1,004, Property 5, Other Objects 600 Total Regular Programs - Elementary / Secondary $74,414, Special Programs - Elementary / Secondary 100 Personnel Services - Salaries 11,522, Personnel Services - Employee Benefits 7,283, Purchased Professional and Technical Services 1,080, Purchased Property Services 3, Other Purchased Services 1,321, Supplies 141, Property 6, Other Objects 200 Total Special Programs - Elementary / Secondary $21,359, Vocational Education 500 Other Purchased Services 1,397,070 Total Vocational Education $1,397, Other Instructional Programs - Elementary / Secondary 100 Personnel Services - Salaries 138, Personnel Services - Employee Benefits 83, Other Purchased Services 4, Supplies 17,000 Total Other Instructional Programs - Elementary / Secondary $242,212 Total Instruction $97,413, Support Services 2100 Support Services - Students 100 Personnel Services - Salaries 4,142, Personnel Services - Employee Benefits 2,557, Purchased Professional and Technical Services 180, Other Purchased Services 25, Supplies 69, Property Other Objects 520 Total Support Services - Students $6,976, Support Services - Instructional Staff 100 Personnel Services - Salaries 3,669, Personnel Services - Employee Benefits 2,208,766 Page 11

12 Preliminary General Fund Budget Estimated Expenditures and Other Financing Uses: Detail LEA : Description Abington SD Printed 1/30/ :51:35 AM 300 Purchased Professional and Technical Services 159, Purchased Property Services 4, Other Purchased Services 16, Supplies 233, Property 8, Other Objects 500 Total Support Services - Instructional Staff $6,300, Support Services - Administration 100 Personnel Services - Salaries 5,211, Personnel Services - Employee Benefits 3,217, Purchased Professional and Technical Services 706, Purchased Property Services 1, Other Purchased Services 233, Supplies 56, Property 4, Other Objects 22,500 Total Support Services - Administration $9,453, Support Services - Pupil Health 100 Personnel Services - Salaries 1,209, Personnel Services - Employee Benefits 746, Purchased Professional and Technical Services 434, Purchased Property Services 1, Other Purchased Services 1, Supplies 8,525 Total Support Services - Pupil Health $2,401, Support Services - Business 100 Personnel Services - Salaries 1,371, Personnel Services - Employee Benefits 846, Purchased Professional and Technical Services 38, Purchased Property Services 77, Other Purchased Services 51, Supplies 22, Property 1, Other Objects 14,850 Total Support Services - Business $2,424, Operation and Maintenance of Plant Services 100 Personnel Services - Salaries 7,328, Personnel Services - Employee Benefits 4,422, Purchased Professional and Technical Services 88, Purchased Property Services 2,142, Other Purchased Services 676, Supplies 1,258, Property 249, Other Objects 4,600 Total Operation and Maintenance of Plant Services $16,169,854 Page 12 Page - 2 of 4 Amount

13 Preliminary General Fund Budget Estimated Expenditures and Other Financing Uses: Detail LEA : Description Abington SD Printed 1/30/ :51:35 AM 2700 Student Transportation Services 100 Personnel Services - Salaries 3,003, Personnel Services - Employee Benefits 1,808, Purchased Property Services 98, Other Purchased Services 3,009, Supplies 401, Property 508, Other Objects 300 Total Student Transportation Services $8,829, Support Services - Central 100 Personnel Services - Salaries 1,304, Personnel Services - Employee Benefits 805, Purchased Professional and Technical Services 23, Purchased Property Services 37, Other Purchased Services 91, Supplies 915, Property 280, Other Objects 1,650 Total Support Services - Central $3,459, Other Support Services 300 Purchased Professional and Technical Services 8, Other Purchased Services 98,400 Total Other Support Services $107,200 Total Support Services $56,122, Operation of Non-Instructional Services 3200 Student Activities 100 Personnel Services - Salaries 885, Personnel Services - Employee Benefits 546, Purchased Professional and Technical Services 9, Purchased Property Services 15, Other Purchased Services 61, Supplies 178, Property 10,400 Total Student Activities $1,706, Community Services 100 Personnel Services - Salaries 250, Personnel Services - Employee Benefits 150, Other Purchased Services 3, Supplies 5,000 Total Community Services $408,475 Total Operation of Non-Instructional Services $2,115, Other Expenditures and Financing Uses 5100 Debt Service / Other Expenditures and Financing Uses Page 13 Page - 3 of 4 Amount

14 Preliminary General Fund Budget Estimated Expenditures and Other Financing Uses: Detail LEA : Description Abington SD Printed 1/30/ :51:35 AM 800 Other Objects 2,841, Other Uses of Funds 5,500,000 Total Debt Service / Other Expenditures and Financing Uses $8,341, Interfund Transfers - Out 900 Other Uses of Funds 1,708,612 Total Interfund Transfers - Out $1,708,612 Total Other Expenditures and Financing Uses $10,049,927 TOTAL EXPENDITURES $165,701,098 Page - 4 of 4 Amount Page 14

15 Preliminary General Fund Budget Schedule Of Cash And Investments (CAIN) Printed 1/30/ :51:36 AM Page - 1 of 2 Cash and Short-Term Investments 06/30/2019 Estimate 06/30/2020 Projection General Fund 1 1 Public Purpose (Expendable) Trust Fund Other Comptroller-Approved Special Revenue Funds Athletic / School-Sponsored Extra Curricular Activities Fund Capital Reserve Fund - 690, 1850 Capital Reserve Fund Other Capital Projects Fund Debt Service Fund Food Service / Cafeteria Operations Fund Child Care Operations Fund Other Enterprise Funds Internal Service Fund Private Purpose Trust Fund Investment Trust Fund Pension Trust Fund Activity Fund Other Agency Fund Permanent Fund Total Cash and Short-Term Investments $1 $1 Long-Term Investments 06/30/2019 Estimate 06/30/2020 Projection General Fund Public Purpose (Expendable) Trust Fund Other Comptroller-Approved Special Revenue Funds Athletic / School-Sponsored Extra Curricular Activities Fund Capital Reserve Fund - 690, 1850 Capital Reserve Fund Other Capital Projects Fund Debt Service Fund Food Service / Cafeteria Operations Fund Child Care Operations Fund Other Enterprise Funds Internal Service Fund Private Purpose Trust Fund Investment Trust Fund Pension Trust Fund Activity Fund Other Agency Fund Page 15

16 Preliminary General Fund Budget Schedule Of Cash And Investments (CAIN) Printed 1/30/ :51:36 AM Page - 2 of 2 Long-Term Investments 06/30/2019 Estimate 06/30/2020 Projection Permanent Fund Total Long-Term Investments TOTAL CASH AND INVESTMENTS $1 $1 Page 16

17 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 1 of 6 Long-Term Indebtedness 06/30/2019 Estimate 06/30/2020 Projection General Fund Total General Fund Public Purpose (Expendable) Trust Fund Total Public Purpose (Expendable) Trust Fund Other Comptroller-Approved Special Revenue Funds Total Other Comptroller-Approved Special Revenue Funds Athletic / School-Sponsored Extra Curricular Activities Fund Total Athletic / School-Sponsored Extra Curricular Activities Fund Capital Reserve Fund - 690, 1850 Page 17

18 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 2 of 6 Long-Term Indebtedness 06/30/2019 Estimate 06/30/2020 Projection Total Capital Reserve Fund - 690, 1850 Capital Reserve Fund Total Capital Reserve Fund Other Capital Projects Fund Total Other Capital Projects Fund Debt Service Fund Total Debt Service Fund Food Service / Cafeteria Operations Fund Page 18

19 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 3 of 6 Long-Term Indebtedness 06/30/2019 Estimate 06/30/2020 Projection Total Food Service / Cafeteria Operations Fund Child Care Operations Fund Total Child Care Operations Fund Other Enterprise Funds Total Other Enterprise Funds Internal Service Fund Total Internal Service Fund Private Purpose Trust Fund Total Private Purpose Trust Fund Page 19

20 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 4 of 6 Long-Term Indebtedness 06/30/2019 Estimate 06/30/2020 Projection Investment Trust Fund Total Investment Trust Fund Pension Trust Fund Total Pension Trust Fund Activity Fund Total Activity Fund Other Agency Fund Total Other Agency Fund Permanent Fund Page 20

21 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 5 of 6 Long-Term Indebtedness 06/30/2019 Estimate 06/30/2020 Projection Total Permanent Fund Total Long-Term Indebtedness Page 21

22 Preliminary General Fund Budget Schedule Of Indebtedness (DEBT) Printed 1/30/ :51:38 AM Page - 6 of 6 Short-Term Payables 06/30/2019 Estimate 06/30/2020 Projection General Fund 1 1 Public Purpose (Expendable) Trust Fund Other Comptroller-Approved Special Revenue Funds Athletic / School-Sponsored Extra Curricular Activities Fund Capital Reserve Fund - 690, 1850 Capital Reserve Fund Other Capital Projects Fund Debt Service Fund Food Service / Cafeteria Operations Fund Child Care Operations Fund Other Enterprise Funds Internal Service Fund Private Purpose Trust Fund Investment Trust Fund Pension Trust Fund Activity Fund Other Agency Fund Permanent Fund Total Short-Term Payables $1 $1 TOTAL INDEBTEDNESS $1 $1 Page 22

23 Preliminary General Fund Budget Fund Balance Summary (FBS) Printed 1/30/ :51:40 AM Page - 1 of 1 Account Description Amounts 0810 Nonspendable Fund Balance 393, Restricted Fund Balance 0830 Committed Fund Balance 25,668, Assigned Fund Balance 0850 Unassigned Fund Balance Total Ending Fund Balance - Committed, Assigned, and Unassigned $25,668, Budgetary Reserve Total Estimated Ending Committed, Assigned, and Unassigned Fund Balance and Budgetary Reserve $26,061,786 Page 23

PRELIMINARY GENERAL FUND BUDGET

LEA Name : Central Bucks SD Class : 2 AUN Number : 122092102 County : Bucks PRELIMINARY GENERAL FUND BUDGET Fiscal Year 2019-2020 General Fund Budget Approval Date of Adoption of the General Fund Budget: