05-08-17 N-PPT-1 Budget amendment 2016-17 Presented May 8, 2017 by Michelle Vargas, chief financial officer Budget amendment Overview May budget amendment is the final adjustment: Updated federal grant entitlements and carryover spending. One-time project spending. Food service and trust funds are unchanged. 1
05-08-17 N-PPT-2 2016-17 Amended budget All funds Fund Actual fund balance June 30, 2016 Amended 2016-17 revenues Amended 2016-17 expenditures Transfers in/(out) Projected fund balance June 30, 2017 General fund $135,480,398 $493,104,952 $495,080,845 $1,620,442 $135,124,946 Food service fund $3,713,802 $20,237,792 $20,287,906 $3,663,688 Community service fund $5,125,332 $22,270,764 $22,310,851 $5,085,244 Capital projects fund $5,372,155 $0 $3,064,062 ($1,620,442) $687,651 Debt service fund $3,572,189 $29,671,030 $10,687,813 $22,555,406 Trust fund $33,598,564 $875,000 $1,525,000 $32,948,564 Total revenues, expenditures and fund balance $186,862,439 $566,159,538 $552,956,478 $0 $200,065,499 FY17 Amended $186,862,439 $523,937,793 $520,953,734 $189,846,498 FY17 Final change $0 $42,221,745 $32,002,744 $10,219,002 General fund fiscal year 2017 (FY17) Revenue detail Revenue increase of $21,788,635: $13.9 million state aid in-kind recognition for Governmental Accounting Standards Board (GASB) 68 pension liability. $3.6 million increase in special education new formula. $2 million general education increase due to increased enrollment of 254 average daily membership for direct pay post secondary enrollment options (PSEO). $2 million increase in federal adjustments. $247 thousand increase in miscellaneous adjustments: Achievement Integration Minnesota (AIM) increase of $180 thousand due to increased enrollment. $63 thousand Anoka County emergency grant. 2
05-08-17 N-PPT-3 General fund FY17 Expenditure detail Expenditure increase of $30,159,178: $13.9 million GASB 68 pension liability increase. One-time and strategic investments of $10.3 million: $2.9 million Blaine land purchase. $2.4 million vehicle storage building construction. $2.3 million University Avenue Elementary addition construction. $2.7 million English Language Arts (ELA) intervention full time equivalent (FTE), high school class size FTE and math action plan expenditures. $1.9 million PSEO direct pay tuition increase. $1.8 million special education workload staffing increase. $2.3 million federal, state and miscellaneous grant increase. General fund balance FY17 Amendment summary 3
05-08-17 N-PPT-4 General fund FY17 Budget summary General fund balance FY17 By restricted, assigned or unassigned 4
05-08-17 N-PPT-5 Community service fund FY17 Revenue detail Revenue $282 thousand increase: $29 thousand Statewide Health Improvement Partnership (SHIP) wellness grants. $169 thousand school readiness increase. $79 thousand adult basic education increase. $5 thousand adjustment to adults with disabilities program. Community service fund FY17 Expenditure detail Expenditure $219 thousand increase: $29 thousand SHIP wellness grants. $130 thousand school readiness program cost increase. $11 thousand early childhood program cost increase. $45 thousand adult basic education program cost increase. $3 thousand adjustment to adults with disabilities program. 5
05-08-17 N-PPT-6 Community service fund FY17 Adjustment summary Capital projects fund FY17 Revenue and expenditure detail 2015A certificates of participation: $1.1 million increase in expenditures for Johnsville Elementary School construction completion in FY17. 6
05-08-17 N-PPT-7 Capital projects fund FY17 Adjustment summary Debt service fund FY17 Revenue and expenditure detail Revenue: $20 million increase due to issuance of 2016A Other Post Employment Benefits (OPEB) refunding bonds: Net savings over the remaining life of the bonds is $2.9 million. Crossover is in February 2019. Expenditures: $523 thousand increase due to interest payments on 2016A OPEB refunding bonds. 7
05-08-17 N-PPT-8 Debt service fund FY17 Adjustment summary Budget timeline Overview Review proposed final amended FY17 budget at May 8, 2017 School Board meeting. Approve final amended FY17 budget on the May 22, 2017 School Board meeting consent agenda. 8
05-08-17 N-PPT-9 2016-17 Amended budget All funds Fund Actual fund balance June 30, 2016 Amended 2016-17 revenues Amended 2016-17 expenditures Transfers in/(out) Projected fund balance June 30, 2017 General fund $135,480,398 $493,104,952 $495,080,845 $1,620,442 $135,124,946 Food service fund $3,713,802 $20,237,792 $20,287,906 $3,663,688 Community service fund $5,125,332 $22,270,764 $22,310,851 $5,085,244 Capital projects fund $5,372,155 $0 $3,064,062 ($1,620,442) $687,651 Debt service fund $3,572,189 $29,671,030 $10,687,813 $22,555,406 Trust fund $33,598,564 $875,000 $1,525,000 $32,948,564 Total revenues, expenditures and fund balance $186,862,439 $566,159,538 $552,956,478 $0 $200,065,499 FY17 Amended $186,862,439 $523,937,793 $520,953,734 $189,846,498 FY17 Final change $0 $42,221,745 $32,002,744 $10,219,002 Questions and comments ahschools.us 9