Al Albuquer buquerque Inst que Institut itute e for for Mathema athematics tics and Science and Science At At UNM UNM 2016-20 20 2017 Budge Bu dget 933 Bradbury SE Jolene Jaramillo Albuquerque, NM 87106 business@aims-unm.org (505) 559-4249
TABLE OF CONTENTS TABLE OF CONTENTS ..........................................................................................................................2 ALBUQUERQUE INSTITUTE FOR MATH & SCIENCE ...............................................................................3 G OVERNING C OUNCIL M EMBERS ...................................................................................................................... 3 M ANAGEMENT T EAM : .................................................................................................................................... 3 BUDGET ANALYSIS .............................................................................................................................4 B UDGET H IGHLIGHTS ...................................................................................................................................... 4 B UDGET S UMMARY ........................................................................................................................................ 5 REVENUE ...........................................................................................................................................7 R EVENUE S UMMARY ...................................................................................................................................... 7 S TATE E QUALIZATION G UARANTEE F ORMULA (SEG): .......................................................................................... 8 H ISTORICAL A NALYSIS ..................................................................................................................................... 9 EXPENDITURES ................................................................................................................................ 10 E XPENDITURES BY F UNCTION C ODE ................................................................................................................. 10 E XPENDITURES BY O BJECT C ODE ..................................................................................................................... 12 P ERSONNEL C OSTS ....................................................................................................................................... 14 N ON -P ERSONNEL C OSTS ............................................................................................................................... 15 O NE -T IME C ONTRACTS ................................................................................................................................. 16 O THER C OSTS .............................................................................................................................................. 16 STUDENT MEMBERSHIP ................................................................................................................... 17 FUND BALANCE ................................................................................................................................ 18 STATISTICAL ANALYSIS ..................................................................................................................... 19 APPENDIX A: 910B-5 ........................................................................................................................ 20 APPENDIX B: OBMS BUDGET SUMMARY REPORT .............................................................................. 23 APPENDIX C: OBMS BUDGET REVENUE REPORT ................................................................................ 24 APPENDIX D: OBMS BUDGET EXPENDITURE DETAIL REPORT ............................................................. 26 APPENDIX E: SALARY SCHEDULE – TEACHER ...................................................................................... 30 APPENDIX F: SCHOOL CALENDAR ...................................................................................................... 31
ALBUQUERQUE INSTITUTE FOR MATH & SCIENCE Albuquer querque Instit que Institute e for or Ma Mathe themati atics cs and Scie and Science A e At UNM UNM A State of New Mexico Charter School www.ai aims-un unm.org org Governing Council Members President Dr. Kathyrn Watkins Vice-President Bob Walton Member Joe Fortuin Member Dr. Alicia Aragon Member Dr. Joe Ho Member Dr. Eva Chi Member Dr. David Dunlap Member Steven J Smith Management Team: Director Katharina Sandoval-Snider Assistant Principal Bobby Cordova Business Manager Jolene Jaramillo 2016-2017 Budget 3 AIMS
BUDGET ANALYSIS Budget Highlights In accordance with the State of New Mexico statutory requirements, prior to June 20 th of each year, local school boards are required to submit to the New Mexico Public Education Department a balanced operating budget for the school district for the ensuing fiscal year. Albuquerque Institute for Mathematics and Science at UNM (AIMS) was able to collaborate with staff and the budget committee in order to develop a balanced budget that is aligned with the school ’s goals. This allowed the school to maintain an estimated 2015-2016 fund balance of $1,230,059, which is a decrease of $230,041 or 8% from the prior year. This budget presentation contains two scenarios in order to present a more accurate plan. The first option is the balanced budget where revenues equals expenditures. The second option removes expenditures that the school does not project to spend in the 2016-2017 school year. This includes items like: Operational Fund Reserves of $995,000 IDEA-B Fund Allocation of $42,783 (AIM’s primarily serves gif ted students and does not anticipate meeting the threshold to utilize IDEA-B funds.) HB-33 2016-2017 allocation and fund balance for a total of $1,255,403 (AIM’s does not anticipate utilization of these funds in 2016-2017 school year.) The primary factors driving changes in the FY16 budget include the following: Mandated salary increase for level three teachers to $52,000 (there was no direct impact due to teachers currently meeting this threshold.) Medical insurance increase of 8.3% in High Options and 7.15% in Low Options. Total impact is about $12,000. Average salary increase of 1% for all employees. However, final teacher percentage increase will be based on their performance scores. Total projected impact is about $22,000. Increase in FTE by 2.00 in comparison to prior year initial budget. The total projected impact of salary and benefits is about $162,884. NMPSIA Risk Insurance Increase of $7,265. 2016-2017 Budget 4 AIMS
Budget Summary AIMS ’ overall budget is $5,477,321 with revenue increasing by $48,057 or 1.43% from 2015-2016 school year. Please keep in mind that Dual Credit, Lease Assistance, and SB-9 State Match funds are not included in the initial revenue budget since the allocations are not finalized until the start of the 2016-2017 school year. I. General Fund II. Special Revenue Operational $ 4,072,795 IDEA-B $ 42,783 Instructional Material $ 52,345 GO Bond Library $ 3,995 Sub-total $ 4,125,140 Sub-total $ 46,778 III. Capital Special Capital Outlay $ 50,000 HB-33 $ 1,255,403 Sub-total $ 1,305,403 TOTAL INITIAL BUDGET $ 5,477,321 2016-2017 Budget 5 AIMS
Overall, the Operational fund makes up t he majority of the school’s budget with 74%. Operational fund covers the costs of operations. On the other hand, the other funds help support the school as follow: Instructional Materials fund provides support for classroom material and supplies; IDEA-B supports the special education costs; GOBond Student Library fund provides support for library books, equipment, and furniture. Special Capital Outlay and HB-33 support future lease purchase agreement costs. Below is a graph that illustrates the breakout. Special Capital Outlay-State 1% HB-33 23% GOBond Student Library 0% IDEA-B Operational 1% 74% Instructional Materials 1% 2016-2017 Budget 6 AIMS
REVENUE Revenue Summary Below is a chart that summarizes the revenue change for AIMS. The budget is expected to increase by about 1.43% without consideration of funds that are not included in the initial budget. Operational Funds 2015-2016 2016-2017 Change %Change SEG $2,775,073 $2,842,736 $67,663 2.44% Instructional Materials $25,663 $8,345 ($17,318) -67.48% $2,800,736 $2,851,081 $50,345 1.80% Federal Flowthrough Funds IDEA-B $51,203 $42,783 ($8,420) 0.00% $0 $0 $0 0.00% Other Funds Dual Credit * $8,736 $0 2012 Go Bond Library * $3,995 $0 Lease Assistance * $258,100 $0 Special Capital Outlay - State ** $50,000 $0 HB-33 $221,691 $219,403 ($2,288) -1.03% SB-9 - State Match * $8,573 $0 $551,095 $219,403 ($2,288) -0.42% Total Estimated Revenue $3,351,831 $3,070,484 $48,057 1.43% * Allocations are not released until after initial budget is approved. ** One-time allocation. 2016-2017 Budget 7 AIMS
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