Parnassus Preparatory School Long Range Budget Projection Model March 24, 2017

Transcription

1 Enrollment Projections Number Students Grade K (Prima) Number Students Grade 1 (1 Grammar) Number Students Grade 2 (2 Grammar) Number Students Grade 3 (3 Grammar) Number Students Grade 4 (4 Grammar) Number Students Grade 5 (1 Logic) Number Students Grade 6 (2 Logic) Number Students Grade 7 (3 Logic) Number Students Grade 8 (4 Logic) Number Students Grade 9 (1 Rhetoric) Number Students Grade 10 (2 Rheteroc) Number Students Grade 11 (3 Rhetoric) Number Students Grade 12 (4 Rhetoric) Enrollment totals by school Total Number of Students Grade K (Prima) Total Number of Students Grade 1-4 (Grammar) Total Number of Students Grade 5-8 (Logic) Total Number of Students Grade 9-12 (Rhetoric) Total Number of Current Year Pupil Units Total Number of Marginal Cost Pupil Units Note: Enrollment amounts are rounded and therefore, totals may differ from the individual grade amounts. Page 1 of 6

2 State Revenue Assumptions and Calculations General Education Revenue 5,948 6,067 6,158 6,250 6,313 6,376 State Averages Per Pupil Unit Inflation Rate Assumption-Basic only 2.0% 2.0% 1.5% 1.5% 1.0% 1.0% Basic Excluding Transportation $5, $5, $5, $5, $6, $6, Gifted and Talented Sparsity Operating Capital Equity Referendum Transportation Sparsity Transportation Long Term Facilities Maintenance Revenue Per Pupil Unit State Revenue 6, , , , , , Less Pension Adjustment Total Per Pupil Unit State Revenue $6, $6, $6, $6, $7, $7, Total General Education State Revenue 5,972,953 6,848,647 7,660,371 8,346,354 8,841,329 9,337,866 18% 23% 23% 23% 23% 23% Compensatory Revenue per state per state estimate estimate estimate estimate A: Number of Students prior yr. ( current year for 1st year) B: Number of Free Lunch Students prior yr. ( or current year for 1st C: Number of Reduced Lunch Students prior yr. ( current yr. for 1st D: Adjusted Counts = 100% Free, 50% Reduced - (A) E: Concentration Portion F: Concentration Factor ( lesser of 1 or Conc. Portion/.8) G: PU =.6 * D * F H: Initial Revenue 71, , , , , ,074 Miscellaneous Adjustment (Rounding) I: Short Year Factor Calculated Compensatory State Revenue ((A) x (B)) 71, , , , , ,074 Page 2 of 6

3 Building Lease Aid Aid at $1,134 per pupil unit 1,197,761 1,347,376 1,475,696 1,575,649 1,654,237 1,731,575 Aid at 90% of Lease 1,199,866 1,356,302 1,602,171 1,618,215 1,654,237 1,731,575 90% of lease payment-per pupil unit 1,316 1,323 1,427 1,349 1,314 1,314 Lesser of $1,314/p.u. or 90% of lease payment 1,197,761 1,347,376 1,475,696 1,575,649 1,654,237 1,731,575 Estimated Proration of Lease Aid Revenue 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% Total Prorated Building Lease Aid Revenue 1,197,761 1,347,376 1,475,696 1,575,649 1,654,237 1,731,575 Lease Aid Revenue per pupil unit (before p 1,314 1,314 1,314 1,314 1,314 1,314 Special Education Revenue estimate estimate estimate estimate estimate estimate State Special Education Aid 692, , , , , ,171 EL (English Learner) State Aid estimate estimate estimate estimate estimate estimate Prior Year EL Eligible ADM Current Year EL Eligible ADM ADM Served Adjusted EL ADM EL Marginal Cost Pupils EL Revenue 25,590 28,487 30,976 32,913 34,349 35,771 Concentration Portion Concentration Factor EL Pupil Units EL Concentration Revenue 3,253 3,621 3,937 4,184 4,366 4,547 Rounding Adjustment Total EL Aid 28,845 32,108 34,914 37,097 38,716 40,318 Page 3 of 6

4 Revenue Summary and Projections State Aids General Education Revenue 5,972,953 6,848,647 7,660,371 8,346,354 8,841,329 9,337,866 School Land Trust Endowment 26,178 27,829 30,260 32,152 33,555 34,944 English Learner Aid 28,845 32,108 34,914 37,097 38,716 40,318 Compensatory Revenue 71, , , , , ,074 General Education Revenue Subtotal 6,099,860 7,045,139 7,876,974 8,583,121 9,093,649 9,603,202 Building Lease Aid 1,197,761 1,347,376 1,475,696 1,575,649 1,654,237 1,731,575 Literacy Incentive Aid 60,090 60,090 60,090 60,090 60,090 60,090 Adjustment for (Over)/Under Accrual 17, Special Education Aid 677, , , , , ,171 Other State Aids 10,000 10,000 10,000 10,000 10,000 10,000 Total State Aids 8,062,996 9,181,788 10,177,901 11,021,759 11,650,520 12,279,037 Other Revenue Student Activity Fees 31,130 34,300 37,300 43,100 47,800 52,000 Contributions and Gifts 49,813 40,000 40,000 40,000 40,000 40,000 Miscellaneous Income 5,069 2,500 1,000 1,000 1,000 1,000 Federal Special Ed 85, , , , , ,700 Federal Title Funds - Title I 52,228 75,261 81,800 94, , ,900 Federal Title Funds - Title II 7,998 7,398 8,000 9,200 10,200 11,100 Food Service Revenue 171, , , , , ,590 Community Fund Revenue 186, , , , , ,700 Total Other Revenue 589, , , , , ,990 Total Revenue 8,652,702 9,857,807 10,911,921 11,847,959 12,551,840 13,249,027 Page 4 of 6

5 Expenditure Calculations Staff Calculations Staff Summary and Projected Staff General Education Teachers General Education Paraprofessionals General Education Administration Total Staff Projected Average Teacher ( 1FTE ) Salary cost 48,000 50,400 52,920 55,566 57,789 59,522 Projected Average Para ( 1FTE ) Salary cost 25,000 26,250 27,563 28,941 30,098 31,001 Projected Admin ( 1FTE ) Salary cost 60,000 63,000 66,150 69,458 72,236 74,403 Added Projected Salary Cost 422, , , , ,577 74,403 Inflation Assumptions Average Salary Increase 3.0% 2-5% 2-5% 2-5% 2-4% 1-3% Other costs 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% Budget Calculations Salaries 2,718,537 3,305,658 3,754,611 4,136,823 4,417,873 4,624,812 Benefits 751, ,113 1,088,837 1,199,679 1,281,183 1,341,195 Contracted Services , , , , , ,868 Communications Services ,748 10,000 11,100 12,000 12,800 13,600 Postage ,178 10,400 11,500 12,500 13,300 14,100 Utilities , , , , , ,228 Property & Casualty Insurance ,541 30,000 37,500 46,875 58,594 73,242 Repairs and Maintenance ,846 45,000 49,900 54,100 57,600 61,200 Contracted Transportation , , , , , ,747 Staff Training ,694 65,000 72,100 78,100 83,100 88,300 Student Field Trips (not including Transportation) ,961 12,000 13,300 14,400 15,300 16,300 Building Lease Cost Current Building Lease prior to Bond Issuance 1,333, , Bond Issue Principal and Interest 0 820,035 1,611,917 1,762,017 1,763,400 1,763,850 Capital Improvement and Other Expenses 0 9,227 29,273 36,000 36,000 36,000 Additional Lease Cost for Future Capital Improvements 0 139, , , ,122 Total Building Lease Cost ,333,184 1,507,002 1,780,190 1,798,017 1,838,041 1,923,972 Other Rentals and Operating Leases ,056 50,000 57,500 60,900 66,000 70,500 Non Instructional Supplies , , , , , ,500 Curriculum Supplies, Textbooks & Workbooks & , , , , , ,283 Page 5 of 6

6 Textbooks and workbooks , Standardized Tests ,630 25,000 33,000 35,800 38,100 40,500 Furniture and Other Equipment , , , ,000 75, ,000 Technology Equipment , ,000 50, , , ,000 Dues and memberships ,635 5,300 5,900 6,400 6,800 7,200 Building Improvements , Extracurricular/Co-Curricular Programs 9,972 55,000 61,000 66,100 70,400 74,800 State Special Ed 728, , , , , ,969 Federal Special Ed 85, , , , , ,700 Federal Title Funds - Title I 52,228 75,261 81,800 94, , ,900 Federal Title Funds - Title II 7,998 7,398 8,000 9,200 10,200 11,100 Food Service Expenditures 192, , , , , ,100 Community Fund Expenditures 224, , , , , ,700 Total Expenditures 8,337,027 9,660,705 10,711,383 11,560,066 12,147,917 12,727,817 Annual Surplus (Deficit) 315, , , , , ,210 Beginning fund Balance 1,964,038 2,279,713 2,476,814 2,677,352 2,965,245 3,369,168 Ending Fund Balance 2,279,713 2,476,814 2,677,352 2,965,245 3,369,168 3,890,378 Fund Balance % of Annual Total Expenditures - All Funds 27.3% 25.6% 25.0% 25.7% 27.7% 30.6% Coverage Ratio Analysis (see separate schedule) Budget Notes 1. The model uses current state law for revenue formulas 2. All Assumptions used in the future year's formulas are shown above in the model 3. Projected Expenditures are based on enrollment changes and inflation factors 4. Certain expense items are based on actual projections, not inflated amounts - such as rent and leases. Page 6 of 6