Board of Education Meeting 2018-2019 General Fund Budget June 11, - PDF document

UTICA COMMUNITY SCHOOLS Board of Education Meeting 2018-2019 General Fund Budget June 11, 2018 1 Utica Community Schools Vision & Mission Vision • All children have the right to a rigorous, high-quality education w hich meets their individual needs. UCS w ill respect, encourage and empow er each and every student to acquire the necessary know ledge, skills and attitudes to be successful, contributing members of a diverse community and global society. Mission • We are committed to exemplary teaching and learning in order for our students to be prepared for success in the 21st Century. We w ill achieve this commitment by engaging the entire community to focus on each child's achievement, w ith the expectation that every student w ill pursue some type of post- high school educational endeavor. 2 1

Utica Community Schools 2018-2019 General Fund Budget District Goals: • Providing Academic Excellence • Promoting Student Innovation • Preparing Positive Digital Citizens • Ensuring Accountability 3 What Drives the General Fund Assumptions? Assumptions: • Student enrollment • Foundation Allow ance (dollars per pupil) • Property tax revenue loss – Headlee rollback ($1.1M) • Resources and associated services are focused in the classroom • Contractual obligations • Benefit costs (retirement, healthcare and dental) 4 2

General Fund FY 2018-2019 Projection Under Governor’s Budget Proposal General Fund Projection Revenue $ 277.3M Expenditures (281.6)M Expenditures over Revenue $ (4.3)M July 1, 2018 Beginning Fund Balance 18.5M 5.1% June 30, 2019 Estimated Ending Fund Balance $ 14.2M 5 FY 2018-2019 Revenue by Source Total $277.3 Million Revenue Assumptions $30.0M, Local - Non- homestead, 11% • Projected enrollment of $10.6M, Federal, 4% 27,261 • $224 Increase to $7.1M, Other Foundation Allowance Financing Sources, $227.1M, State, 82% 2% (Governor's Proposal) $2.5M, Local - Other, 1% 6 3

FY 2018-2019 Expenditures by Function Total $281.6 Million $0.2M, Community Activity, 0.1% $3.1M, Athletics, 1.1% Expenditure Assumptions $11.7M, Transportation, 4.2% • Salary and wages at 2017-2018 levels $224.3M, Instruction & $19.8M, Operations, Instructional Support, • Personnel spending is 7.0% 79.6% a result of Collective $7.7M, Business & Bargaining Agreements General Administration, 2.7% • Non-personnel budgets are based on projected costs $14.8M, School Administration, 5.3% 7 FY 2018-2019 Expenditures by Object Total $281.6 Million $22.0M, Purchased $15.4M, Other, 5.5% Services, 7.8% $4.6M, Other Benefits, 1.6% Wages and $22.3M, Health Care, 7.9% Benefits account for $10.6M, FICA, 3.8% $147.8M, Wages, 86.7% of Total 52.5% Expenditures $58.9M, Retirement, 20.9% 8 4

General Fund FY 2018-2019 Projection Under Governor’s Budget Proposal General Fund Projection Revenue $ 277.3M Expenditures (281.6)M Expenditures over Revenue $ (4.3)M July 1, 2018 Beginning Fund Balance 18.5M 5.1% June 30, 2019 Estimated Ending Fund Balance $ 14.2M 9 5