Highlights of the Budget

Transcription

1 Highlights of the Budget

2 Total budget including Debt Service, Capital Projects & Life Safety $245,912,486* *includes $23,600,000 TRS on-behalf Operating funds = $222,917,933 Represents a decrease of $1.79 million from FY10

3 Total FTE staff 2,525 Certified Staff 2.5 positions eliminated Classified Staff 56.5 positions eliminated

4 General Ed (12.5) Special Ed Bilingual/ESL +1.0 Counselors/Deans (2.0) Office Personnel (2.0) Maintenance (.5) Security (1.0) LMC Aides (.5) Special Ed Aides (49.5) Administrator-Certified (2.0) Classified Nurse (1.0) Instructional Aides (2.5) Net Change 59.0 positions reduced

5 ALL FUNDS Object Budget Percent Actual Percent Salaries $ 127,941, % $ 126,589, % Benefits $ 54,689, % $ 50,229, % Purchased Services $ 16,825, % $ 16,820, % Supplies and Materials $ 10,669, % $ 10,669, % Capital Outlay $ 3,684, % $ 6,209, % Other Objects $ 31,523, % $ 25,124, % Non-Capitalized Equip. $ 236, % $ 605, % Tuition/ Outside payments $ 343, % $ 218, % Total* $ 245,912, % $ 236,466, % Education Fund Object Budget Percent Actual Percent Salaries $ 116,769, % $ 111,969, % Benefits $ 46,208, % $ 41,367, % Purchased Services $ 7,914, % $ 7,468, % Supplies and Materials $ 5,548, % $ 2,855, % Capital Outlay $ 599, % $ 649, % Other Objects $ 8,638, % $ 8,585, % Non-Capitalized Equip. $ 177, % $ 300, % Tuition/ Outside payments $ 327, % $ 201, % Total* $ 186,183, % $ 173,398, % *Includes TRS on-behalf payment and Food Service Fund TRS On-behalf payment is book-entry only $ 14,900, $ 21,100, $ 23,600,000

6 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Object Comparison Chart Salaries Benefits Purchased Services Supplies and Materials Capital Outlay Other Objects Non-Capitalized Equip. Tuition/ Outside payments Total*

7 Local State* Federal TOTALS FUND Educational $ 112,971,728 $ 53,144,206 $ 15,317,087 $ 181,433,021 Operations and Maintenance $ 14,623,439 $ 14,623,439 Debt Service $ 21,296,300 $ 21,296,300 Transportation $ 3,002,500 $ 3,468,186 $ 6,470,686 IMRF $ 7,446,534 $ 490 $ 7,447,024 Capital Projects $ 33,100 $ 33,100 Working Cash $ 214,350 $ 214,350 Tort $ 2,953,350 $ 2,953,350 Fire Prevention and Safety $ 60,250 $ 60,250 $ - TOTALS $ 162,601,551 $ 56,612,392 $ 15,317,577 $ 234,531,520 * Includes $23.6 million in TRS on-behalf payment in book entry only 69% 24% 7% 100% Percentages change if On-Behalf is NOT included $ 162,601,551 $ 33,012,392 $ 15,317,577 77% 16% 7%

8 Local resources - $162 million mainly comprised of property taxes and user fees State funding - $56.6 million This represents $4.3m less than FY10 General State Aid will yield $1,347/student or $22.9m Federal dollars estimated at $13.3 million

9 ARRA -IDEA Funds budgeted to be received $2.69 million Used for special education needs Supplement, not supplant, meaning new expenditures only. Education Jobs $2.08 million Used to retain teachers fro SY Challenge will occur when funds no longer available for next year

10 Decreases in: General State Aid <$2,502,000> Transportation Reimbursement cut by 42% and at only 25% funding <$1,214,000> Reading improvement Block Grant $ <$449,910> ADA Safety/Educational Block Grant $ <$147,578 > Total decrease over prior year funds = $4,313,000

11 Year Amount Difference % Change $ 23,812, $ 25,344,320 $ 1,531, % $ 27,586,853 $ 2,242, % $ 26,850,995 $ (735,858) -2.7% $ 25,404,339 $ (1,446,656) -5.4% $ 22,902,219 $ (2,502,120) -9.8%

12 State was in arrears for Mandated Categorical reimbursements of $5.7 million as of June 30, 2010 Expected to collect 25% of MCATS 1n FY11 Lost investment opportunity Lack of sufficient cash flow for longer-term investment horizon Budget uncertainty for 2012 and beyond

13 FY11 Regular Transportation Reimbursement Per claim for expenses $2,822,400 Reduced 42% per Governor's Education Budget $1,636,992 Due to receive only 25% in FY11 $409,248 Amount of Transportation Reimbursement decrease in FY11 $2,413,152

14 State MCAT Reimbursements not Paid in FY10 Date Amount Special Education Private Facility Tuition March 29, 2010 $ 441,307 Funding For Children Requiring Special Education March 29, 2010 $ 622,734 Special Education Personnel March 29, 2010 $ 1,034,225 Special Education Orphanage individual August 26, 2010 $ 412,152 Special Education Orphanage individual March 29, 2010 $ 119,721 Bilingual Education TPI and TBE August 17, 2010 $ 44,705 Bilingual Education TPI and TBE February 8, 2010 $ - $ 674,489 Paid 09/21/2010 State Free Lunch and Breakfast February 9, 2010 $ - $ 17,905 Paid 09/21/2010 State Free Lunch and Breakfast March 9, 2010 $ 18,028 State Free Lunch and Breakfast April 6, 2010 $ 22,577 State Free Lunch and Breakfast May 4, 2010 $ 16,034 State Free Lunch and Breakfast August 17, 2010 $ 15,798 School Breakfast Incentive August 18, 2010 $ 2,868 Transportation Regular and Vocational March 29, 2010 $ 662,091 Transportation Special Education March 29, 2010 $ 1,290,653 National Board Certification Initiatives June 23, 2010 $ 26,406 Early Childhood Block Grant March 5, 2010 $ 6,000 Early Childhood Block Grant April 7, 2010 $ 12,000 Early Childhood Block Grant May 3, 2010 $ 12,000 Reading Improvement Block Grant April 26, 2010 $ 224,955 ADA Safety and Educational Block Grant April 26, 2010 $ 73,796 $ 5,058,050 $ 692,394 Total Expected State Dollars 39,966, Total State Dollars Received 34,908, % State Dollars Due 5,058, % $ 3,797,700 Education $ 1,952,744 Transportation $ 5,750,445 Total

15 Mandated Categoricals Uncollected from FY10 Budget Allocation for FY11 Budget Appropriation via ISBE Unpaid MCATS carried into FY12 25% of allocation Education Fund $ 3,797,700 $ 10,828,311 $ 2,707,078 $ 8,121,233 Transportation Fund $ 1,952,744 $ 6,061,768 $ 1,515,442 $ 4,546,326 Total $ 5,750,444 $ 16,890,079 $ 4,222,520 $ 12,667,559 FY11 Uncollected MCATS $ 12,667,559 Payment of FY10 MCATS $ (5,750,444) Education Jobs funds $ (2,084,906) Additional deficit for FY11 $ 4,832,209

16 Beginning Fund Balance Education Operations & Maint Transportation IMRF/FICA Tort Working Cash Total As of June 30, 2010 $ 45,359,973 $ 15,076,031 $ 6,287,268 $ 2,266,037 $ 7,390 $ 31,455,318 $ 100,452,017 1 Revenues: $ 157,833,021 $ 14,623,439 $ 6,470,686 $ 7,447,024 $ 2,953,350 $ 214,350 $ 189,541,870 2 Expenses: $ 162,583,938 $ 15,001,921 $ 11,174,710 $ 7,447,024 $ 2,950,340 $ 160,000 $ 199,317,933 3 Note: excludes TRS On Behalf of $23.6m Estimated Ending Balance: $ 40,609,056 $ 14,697,549 $ 1,583,244 $ 2,266,037 $ 10,400 $ 31,509,668 $ 90,675,954 Difference $ (4,750,917) $ (378,482) $ (4,704,024) $ - $ 3,010 $ 54,350 $ (9,776,063) 4 % change in fund balance % -2.51% % 0.00% 40.73% 0.17% -9.73% # Days cash on hand 6/30/ , Fund balance divided by (expenses/365) Excluding early taxes Adjusted Fund Balance as of 6/30/11 $ (7,524,769) $ 7,843,829 $ 358,862 $ 431,765 $ (1,447,870) $ 31,482,839 $ 31,144,655 6 excluding early taxes # Days cash on hand 6/30/11 (17) (179) 71, Fund balance divided by (expenses/365) FY10 State Vouchered but not yet Paid $ 3,797,700 $ 1,952,744 $ 5,750,444 8 FY11 MCATS owed on 75% $ 8,121,233 $ 4,546,326 $ 12,667,559 9 Est. Ending Fund Balance if State pays FY11 100% of MCATS $ 48,730,289 $ 14,697,549 $ 6,129,570 $ 2,266,037 $ 10,400 $ 31,509,668 $ 103,343, % change in fund balance -9.75% -2.58% % 0.00% 28.94% 0.17% -9.46% # Days cash on hand 6/30/ , Fund balance divided by (expenses/365) Excluding early taxes Adjusted Fund Balance as of 6/30/11 $ 596,464 $ 7,843,829 $ 4,905,188 $ 431,765 $ (1,447,870) $ 31,482,839 $ 43,812, excluding early taxes # Days cash on hand 6/30/ (179) Fund balance divided by (expenses/365)

17 Reduced State funding and State IOUs to ValleyViewcausing major stress to overall financial picture Position of District will require additional reductions to move closer to a balanced budget and preserve Fund Balance Enrollment and new property is stagnant Operating reserves have declined to less than 3 months of operations, excluding early taxes received in June