MERIDIAN CUSD 223 FY 17 Tentative Budget Presentation
EXAMINATION OF BUDGETING PROCESSES AND DATA Overall data Year in Review for FY 15 Baseline numbers for FY 16 (Unaudited numbers) The budgeting process examined FY 17 Tentative Budget Data Dashboard Concept
REVIEW OF OVERALL DATA
Operating Reserves at End of Fiscal Year $9,000,000.00 $8,000,000.00 $7,000,000.00 $6,000,000.00 $5,000,000.00 $4,000,000.00 $3,000,000.00 $2,000,000.00 $1,000,000.00 $- FY 13 FY 14 FY 15 FY 16 FY 17 (Projected) Budgeted
Operating Fund Reserve Percentage 60% 50% 40% 30% 20% 10% 0% FY 13 FY 14 FY 15 Projected FY Budgeted FY 16 17
Surplus/Deficit $10,000,000.00 $8,000,000.00 $6,000,000.00 $4,000,000.00 $2,000,000.00 $- $(2,000,000.00) FY 15 – THREE TAX PAYMENTS $(4,000,000.00) FY 16 – RECEIPT OF ALL HLS FUNDS $(6,000,000.00) FY 17 – EXPENDING HLS FUNDS $(8,000,000.00) RECEIVED IN FY 16 $(10,000,000.00) Projected FY Budgeted FY FY 13 FY 14 FY 15 16 17 Surplus/Deficit $(1,488,784.0 $(638,825.00) $3,404,136.00 $8,706,545.00 $(7,759,000.0
FY 16 BUDGET SUMMARY
“ Unexpecteds ” • Boiler Repairs • Approval and commencement of HLS work • Three categorical payments received • Ability to hire an Elementary Counselor
What is going on with the tax payments? • We typically receive two tax payments per year. They arrive in late June and Mid-September. These payments make up over 50% of our total revenue. While we have received payments in June, we simply do not cash them until July to stay consistent with the fiscal year. • This is no longer an option as payments are direct deposited. OGLE COUNTY ONLY • As a result we will have received 3 tax payments in FY 15 and will receive 2 in FY 16. • This does not change our cash flow situation – but does impact our end of year financial numbers
FINAL FY 16 DATA
FY 16 DATA NOT YET AVAILABLE • FY 16 DATA NOT YET AVAILABLE
INITIAL FY 17 DATA
ALL FUNDS FY 17 BUDGET
FY 17 Fire Capital (Tentative Education O+M Debt Services Transportation IMRF/SS Working Cash Tort Prevention TOTALS Projects Budget) and Safety Opening Year $ $ $ $ $ $ $ $ $ $17,220,765. Fund Balance 5,692,981.00 112,242.00 744,327.00 1,187,983.00 231,041.00 292,705.00 325,746.00 205,861.00 8,427,879.00 00 Revenue $17,621,000. $ $ $ $ $ $ $ $ 00 12,349,000.00 1,310,000.00 1,775,000.00 1,045,000.00 455,000.00 $ - 87,000.00 520,000.00 80,000.00 Expenditure $25,380,000. $ $ $ $ $ $ $ $ 00 11,978,000.00 1,335,000.00 1,775,000.00 1,040,000.00 509,000.00 50,000.00 $ - 486,000.00 8,207,000.00 $ $ Projected $ $ $ $ $ $ $ $ - (8,127,000.00 (7,759,000.00 Annual Total 371,000.00 (25,000.00) 5,000.00 (54,000.00) (50,000.00) 87,000.00 34,000.00 ) ) Remaining $ $ $ $ $ $ $ $ $ $ Fund Balances 6,063,981.00 87,242.00 744,327.00 1,192,983.00 177,041.00 242,705.00 412,746.00 239,861.00 300,879.00 9,461,765.00
OPERATING FUNDS FY 17 BUDGET
FY 17 (Tentative Education O+M Transportation Working Cash Budget) Opening Year $ 5,692,981.00 $ 112,242.00 $ 1,187,983.00 $ 325,746.00 Fund Balance Revenue $ 12,309,000.00 $ 1,310,000.00 $ 1,045,000.00 $ 87,000.00 Expenditure $ 11,800,000.00 $ 1,335,000.00 $ 1,040,000.00 $ Projected Annual $ 509,000.00 $ (25,000.00) $ 5,000.00 $ 87,000.00 Fund Balance Remaining Fund $ 6,201,981.00 $ 87,242.00 $ 1,192,983.00 $ 412,746.00 Balances
NON- OPERATING FUNDS FY 17 BUDGET
FY 17 Fire Capital (Tentative Debt Services IMRF/SS Tort Prevention Projects Budget) and Safety Opening Year $ $ $ $ $ Fund Balance 744,327.00 231,041.00 292,705.00 205,861.00 8,427,879.00 $ $ $ $ Revenue 1,775,000.00 455,000.00 $ - 520,000.00 80,000.00 $ $ $ $ $ Expenditure 1,775,000.00 509,000.00 50,000 - 486,000.00 8,207,000.00 Projected $ $ $ $ Annual Fund $ - (54,000.00) (50,000) - 34,000.00 (8,127,000.00) Balance Remaining $ $ $ $ $ Fund 744,327.00 177,041.00 242,705.00 239,861.00 300,879.00 Balances
HOW DO YOU CREATE THE TENTATIVE BUDGET?
2 separate, but related processes • Expenditures • Time-bound • Must project this forward to make Reduction decisions in February, etc. • Revenues • Driven by two major items – the levy and the state. The levy the district has understanding and control over. The state . . . .
Expenditures • More scientific • Budget must reflect priorities • Some hard numbers • Salaries (sort of) • Controlled expenditures • Some soft numbers • Energy • Major projects • Contingencies
Revenue • Tax payments driven by the levy • GSA or General State Aid • Grant funding • Fees and payments • Other miscellaneous revenue • Gifts • Medicare/Medicaid Reimbursement
Control vs. Lack of Control • We can control expenditures (to a point), revenue, we have very little control over.
State Funding • We receive state funding in two ways – GSA and Categorical Payments • GSA based on • Available local resources • Poverty level • Total attendance average of best 3 months over past 3 years • CPPRT At 92% - We • State proration lose over $450k • Categoricals • Supplemental funding for particular programs • SpEd • Transportation • Lunch programs • Should receive quarterly • Last year received 3 of 4 payments
FUND BY FUND EXPLANATION
FUND 10 - Education • Revenue • Levy – Max Rate = 3.48 (maximum by statute for 7 years as bolstered by referendum) • SpEd Levy – Max Rate = 0.04 • Lease Levy – Max Rate = 0.05 • Vast preponderance of GSA • SpEd categoricals • Bi-lingual grant • Pre-K grant • Free and Reduced Lunch funding • Title I • Title II • IDEA Flow-Through Grants • Medicaid
Fund 10 Education • Expenditures • Teacher, aide, administrator, cafeteria worker salaries, technology costs and salaries, athletic and activity costs, health benefits, and teacher/administrator retirement • Supplies • Software licensing • SIS • Audit • OCEC • Internet connection • Phone Service
Fund 20 - • Revenues • Tax Levy (.50) – Statutory limit for MCUSD 223 – only adjustable through referendum • Portion of GSA • Rental fees • Lease monies • Expenditures • Custodian and Maintenance salaries and benefits • Water • Sewer • Gas • Electric
Fund 30 • Revenue • Tax levy (We tax for exact amount needed – capped only by debt limit calculation) • Expenditures • Directly to pay off long-term debt
Fund 40 • Revenue • Levy (.20 – statutory maximum for MCUSD 223 unless a referendum is passed) • GSA (tiny portion) • Categoricals
Fund 50 • Revenue • Levy based on need (.22 this year) • Not enough to cover need, but we had a surplus • Expenditures • IMRF and Social Security for all Employees
Fund 60 • Not really used • IMPACT fees • Specific bonds • May use this year to transfer funds to O+M
Fund 70 • Revenues • Levy .05210 • Expenditures • None expected – can transfer as needed
Fund 80 • Revenue • As needed levy – current rate .317 • Expenditures • Portion of administrator and director salaries • Liability insurance • Portion of legal fees • Projects designed to increase safety and security
Fund 90 • Revenue • Levy .05 max rate • Bonding for total cost of HLS need as dictated by architect, local district, ROE, and ISBE • Expenditures • Large projects dictated by amendment as created by architect and following protocol above • None budgeted for
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