Budget Hearing June 20, 2016

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1 Budget Hearing June 20, 2016

2 GF 2016/17 Assumptions Pupil Count of 2,924 (blended 2015/16) Foundation Grant of $7,517 ($120 increase unsigned by Governor) MPSERS rate of 24.94% (<.84% - UAAL fully funded) Federal Programs 80% (Revenue equals expense) Insurance Hard Cap >2.5% Fuel Costs/Snow Removal <; PM Contracts VoIP Upgrade > Millage Rates Non-Homestead mills Debt Retirement mills Building & Site mills

3 GF 2016/17 Summary 2012/ / / / Final Budget Actual Actual Actual Amend Proposed TOTAL REVENUE $ 23,377,153 $ 24,067,672 $ 25,532,682 $ 25,630,044 $ 25,820,265 EXPENDITURES: Total Instructional $ 14,343,511 $ 14,594,183 $ 15,594,012 $ 15,991,374 $ 15,930,199 Total Support Services $ 9,456,201 $ 9,925,791 $ 9,865,906 $ 9,615,796 $ 9,631,674 Community Recreation $ 51,759 $ 35,744 $ 69,894 $ 44,973 $ 40,991 Other Transactions $ 50,027 $ 24,100 $ 13,491 $ - $ - TOTAL EXPENDITURES $ 23,901,497 $ 24,579,818 $ 25,543,303 $ 25,652,143 $ 25,602,864 Surplus/Deficit $ (524,344) $ (512,146) $ (10,621) $ (22,099) $ 217,401 Beginning Fund Balance $ 3,497,130 $ 2,972,786 $ 2,460,640 $ 2,450,019 $ 2,427,920 Ending Fund Balance $ 2,972,786 $ 2,460,640 $ 2,450,019 $ 2,427,920 $ 2,645,321

4 St. Joseph Public Schools Revenue Federal 1% Transfer-In 1% Local Revenues 25% State Revenues 73%

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8 St. Joseph Public Schools Fund Balance Trends Fund Balance $4,000,000 $3,500,000 $3,000,000 $2,500,000 $3,497,130 $2,972,786 $2,460,640 $2,450,019 $2,427,920 $2,645,321 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 2011/ / / / / /17

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10 SCHOOL AID FUND TAX REVENUE BY SOURCE ESTIMATED FY Individua l Income Tax Earmarking $2, % TOTAL RESOURCES: $12,242.9 MILLION (Chart dollars in millions) State Education Tax $1, % Lottery Transfer $ % House Fiscal Agency July 2015 Sales Tax $5, % Liquor LiExcise Tax Liquor Excise Tax $ % Use Tax $ % Tobacco Taxes $ % Real Estate Transfer Tax $ % Casino Wagering Tax $ % Other SAF Taxes $ %

11 Effective Base Foundation Allowance Trends (State) 7,600 7, , ,200 7,000 7,108 7,204 7,162 7,146 7, ,966 6,800 6,846 6,600 6,

12 Bulletin 1014 Berrien County ( Data) 841 Total Districts District Name County AVG FTE RANK FTE REVENUE PER PUPIL REVENUE RANK PER PUPIL EXP PER PUPIL EXP RANK PER PUPIL Hagar Tow nship S/D #6 BERRIEN $ 8, $ 8, Dream Academy BERRIEN $ 8, $ 8, Mildred C. Wells BERRIEN $ 8, $ 7, Preparatory Academy Watervliet School District BERRIEN $ 8, $ 8, St. Joseph Public Schools BERRIEN $ 8, $ 8, Brandyw ine BERRIEN $ 8, $ 8, Lakeshore BERRIEN $ 8, $ 8, Berrien Springs BERRIEN $ 9, $ 8, Buchanan BERRIEN $ 9, $ 9, Sodus Tow nship S/D #5 BERRIEN $ 9, $ 9, Niles Community Schools BERRIEN $ 9, $ 9, Benton Harbor Charter BERRIEN $ 9, $ 9, Coloma BERRIEN $ 9, $ 9, Eau Claire Public Schools BERRIEN $ 10, $ 10, Bridgman Public Schools BERRIEN $ 10, $ 10, Benton Harbor Public BERRIEN $ 12, $ 12, Countryside Academy BERRIEN $ 13, $ 13, River Valley School BERRIEN $ 14, $ 13, New Buffalo BERRIEN $ 25, $ 24,843 17

13 Bulletin Comparative Data Districts by FTE 41 Districts District Name County AVG FTE RankFT E Revenue Per Pupil Revenue Rank PP Total All GF Expenditures Per Pupil Total All GF Expenditures Rank Orchard View Schools MUSKEGON $ 8, $ 8, Edw ardsburg Public CASS $ 8, $ 8, Marysville Public Schools ST. CLAIR $ 8, $ 8, Fow lerville LIVINGSTON $ 8, $ 8, Hastings Area School BARRY $ 8, $ 8, District Tecumseh Public Schools LENAWEE $ 8, $ 8, St. Joseph Public Schools BERRIEN $ 8, $ 8, Allegan Public Schools ALLEGAN $ 8, $ 8, Plainw ell ALLEGAN $ 8, $ 8, Three Rivers ST. JOSEPH $ 8, $ 8, Linden GENESEE $ 8, $ 8, Coldw ater BRANCH $ 8, $ 9, Lakeshore School District BERRIEN $ 8, $ 8, Northw est JACKSON $ 8, $ 9, Western School District JACKSON $ 8, $ 8, Riverview Community WAYNE $ 9, $ 9, Michigan Virtual Charter KENT $ 9, $ 9, Petoskey EMMET $ 9, $ 9, Wayland Union Schools ALLEGAN $ 9, $ 9, Vicksburg KALAMAZOO $ 9, $ 9, Dearborn Heights Dist#7 WAYNE $ 9, $ 9, Hamilton ALLEGAN $ 9, $ 9, Huron School District WAYNE $ 9, $ 9, Airport Community MONROE $ 9, $ 9, Sparta Area Schools KENT $ 9, $ 9, Harper Creek CALHOUN $ 9, $ 9, Charlotte Public Schools EATON $ 9, $ 9, East Grand Rapids KENT $ 9, $ 9, Allendale Public Schools OTTAWA $ 9, $ 9, Brandon School District OAKLAND $ 10, $ 9, Coopersville Area Public OTTAWA $ 10, $ 9, Marshall Public Schools CALHOUN $ 10, $ 10, Fruitport MUSKEGON $ 10, $ 10, Haslett Public Schools INGHAM $ 10, $ 10, Trenton Public Schools WAYNE $ 10, $ 9, Waverly INGHAM $ 10, $ 10, Fitzgerald Public Schools MACOMB $ 10, $ 10, Van Dyke Public Schools MACOMB $ 10, $ 10, Lamphere Public Schools OAKLAND $ 11, $ 11, Center Line Public MACOMB $ 11, $ 11, Melvindale-North Allen Park WAYNE $ 13, $ 13,090 59

14 Source Bulletin 1014 ( ) Total Instruction defined by State does not include any expenses after Function Code 200 (Counselors, Speech, SW, Curriculum, SE Director, Media, Principals, etc.

15 ST. JOSEPH PUBLIC SCHOOLS GENERAL FUND BUDGET OVERVIEW 2016/17 COMPARED TO 2015/16 Revenue $ 25,630, $ 25,820,265 Federal Programs 80% Variance $ 190,221 State Aid > $120pp Early Lit Grant Rental Allocation Expenses $ 25,652,143 MPSERS Rate $ 25,602,864 Federal Programs 80% Variance $ (49,279) Steps/Insurance Mow/Snow/Fuel Bond/VoIP Revenue/Expenses $ (22,099) $ 217,401 Fund Balance $ 2,427, % $ 2,645, % Target = 12%

16 Food Service 2016/ / / / /17 Final Actual Actual Amendment Proposed TOTAL REVENUE $1,132,685 $1,146,570 $1,133,310 $1,143,310 TOTAL EXPENDITURES $1,131,075 $1,158,332 $1,126,307 $1,134,700 Excess of Revenues, over Expenditures $1,610 ($11,762) $7,003 $8,610 Fund Balance - Beginning $76,969 $78,579 $66,817 $73,820 Fund Balance - Ending $78,579 $66,817 $73,820 $82,430

17 Debt Service 2016/ / / / /17 Actual Actual Final Amendment Proposed REVENUES: Local Revenues - Interest $181 $272 $3,400 $3,400 Local Revenues - Tax Levy $3,435,740 $3,468,901 $3,473,493 $3,894,774 Federal Revenues $669,930 $384,497 $10,845 $10,845 Bond Proceeds $9,636,571 $33,504, Transfer In $10,495,542 $35,719, TOTAL REVENUE $24,237,964 $73,077,563 $3,487,738 $3,909,019 EXPENDITURES: Bond Principal $1,345,000 $1,415,000 $1,125,000 $1,865,000 Bond Interest $2,723,950 $1,603,437 $2,410,878 $2,016,446 Other Bond Costs $20,130,993 $34,786,184 $6,150 $3,000 Transfer Out $492,000 $35,719, TOTAL EXPENDITURES $24,691,944 $73,523,791 $3,542,028 $3,884,446 Excess of Revenues, over Expenditures $(453,980) $(446,228) $(54,290) $24,573 Fund Balance - Beginning $1,305, ,413 $405,185 $350,895 Fund Balance - Ending $851,413 $405,185 $350,895 $375,468

18 NEW 2016 Capital Projects 2015/ /17 Actual Proposed REVENUES: Bond Proceeds $2,450,000 0 Interest/Investments 0 $1,372 TOTAL REVENUE $2,450,000 $1,372 EXPENDITURES: Bus Purchases 0 $380,000 Capital/Equipment 0 $1,060,000 Site Improvements/Remodeling 0 $30,000 Fees/Bond Costs 0 $197,882 TOTAL EXPENDITURES 0 $1,673,372 Excess of Revenues, over Expenditures $2,450,000 $(1,672,000) Fund Balance - Beginning 0 $2,450,000 Fund Balance - Ending $2,450,000 $778,000

19 Building & Site 2016/ / / / /17 Actual Actual Final Amendment Proposed REVENUES: Local Revenues $983,483 $971,586 $965,940 $950,000 Transfers & Other Transactions 0 $750, TOTAL REVENUE $983,483 $1,721,586 $965,940 $950,000 EXPENDITURES: Capital Outlay $878,857 $1,371,440 $400,436 $540,545 Site Improvements 0 $59,150 0 $300,000 Misc Expenses 0 $48,771 0 $29,000 Other Financing Uses 0 0 $755,295 TOTAL EXPENDITURES $878,857 $1,479,362 $1,155,731 $869,545 Excess of Revenues, over Expenditures $104,626 $242,224 $(189,791) $80,455 Fund Balance - Beginning $141,715 $246,341 $488,565 $298,775 Fund Balance - Ending $246,341 $488,565 $298,775 $379,230

20 DEBT MILLAGE REFUNDING SAVINGS By refunding the bonds, St. Joseph Public Schools was able to reduce the interest due on bonds by an estimated net savings of $4.5 million dollars. TO OUR TAX PAYERS Source PFM 3/29/16

21 Questions? Kathleen Hamilton, CFO St. Joseph Public Schools