Plainedge Public Schools 2017-2018 Presentation 5-Year Fund Balance Projections Presentation to the Board of Education Peter Porrazzo, Assistant Superintendent for Business March 21, 2017
Fund Balance Projection - 3 21 17 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 ACTUAL BUDGET BUDGET BUDGET BUDGET Budget Increase 1.95% 1.47% 0.00% 1.75% 1.75% $ increase (budget) 1,721,799 1,324,766 0 1,601,423 1,629,448 State Aid 18,893,507 19,233,702 19,230,000 19,806,900 20,401,107 % Tax Levy & PILOT Increase 1.95% 1.08% 0.26% 1.50% 1.50% $ Tax Levy & PILOT Increase 1,234,841 698,263 172,392 976,640 991,226 Budgeted Expenditures: 90,185,141 91,509,907 91,509,907 93,111,330 94,740,779 Revenue Sources: Estimated State Aid 18,893,507 19,233,702 19,230,000 19,806,900 20,401,107 Assigned: Appr Fund Bal 3,675,684 3,561,842 3,350,032 3,393,435 3,437,450 Applied Reserve W Comp 250,000 250,000 250,000 250,000 250,000 Applied Reserve Unemp 0 100,000 100,000 100,000 100,000 Applied Reserve ERS 1,150,000 1,200,000 1,200,000 1,200,000 1,200,000 Applied Reserve EBAL 130,000 200,000 200,000 200,000 200,000 Applied Reserve Ins 0 0 0 0 0 Other Revenues 1,422,250 1,602,400 1,645,520 1,650,000 1,650,000 PILOT 1,287,755 1,102,608 1,275,000 1,287,750 1,300,628 Tax Levy 63,375,945 64,259,355 64,259,355 65,223,245 66,201,594 Total Revenue+Reserves 90,185,141 91,509,907 91,509,907 93,111,330 94,740,779 Planned Use of Reserves 1,530,000 1,750,000 1,750,000 1,750,000 1,750,000 Rev. - Exp. 0 0 0 0 0 Deficit / Cuts Rqrd 0 0 0 0 0 Budget Increase 1.95% 1.47% 0.00% 1.75% 1.75% Tax Levy Increase 1.95% 1.08% 0.00% 1.50% 1.50% Pilot Increase 15.63% 1.50% 1.50% State Aid Increase 4.59% 1.80% -0.02% 3.00% 3.00%
Fund Balance Projection - 3 21 17 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 ACTUAL BUDGET BUDGET BUDGET BUDGET Unassigned Fund Bal - opening 3,607,405 3,660,396 3,660,397 3,724,453 3,552,779 Total Expenditures (87,496,174) (88,644,603) (88,444,178) (90,617,783) (92,845,727) Revenue Received 83,326,055 86,457,188 86,409,875 87,967,895 89,553,329 Unexpended at End of Year (4,170,119) (2,187,415) (2,034,303) (2,649,887) (3,292,399) Sub-total (562,714) 1,472,981 1,626,093 1,074,566 260,380 (Add)/Use of Reserves 4,552,359 1,611,012 2,166,763 2,547,228 3,250,000 Interest on Reserves (25,815) (25,000) (25,000) (25,000) (25,000) Adjust Appropriated Fund Balance 113,842 211,810 (43,403) (44,015) (915,930) Adjust Encumbrance (417,276) 389,593 0 0 0 Unassigned Fund Balance 4% 3,660,396 3,660,397 3,724,453 3,552,779 2,569,450 4.00% 4.00% 4.00% 3.75% 2.67% Appropriated Fund Balance 3,561,842 3,350,032 3,393,435 3,437,450 4,353,380 Encumbrances 1,389,593 1,000,000 1,000,000 1,000,000 1,000,000 Assigned and Unassigned Fund 8,611,831 8,010,429 8,117,888 7,990,229 7,922,830 Balance
Fund Balance Projection - 3 21 17 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 ACTUAL BUDGET BUDGET BUDGET BUDGET Restricted Funds: Use of Capital Reserve 6,428,000 2,985,314 1,500,000 1,500,000 1,500,000 (Additions)Use of Reserves (1,901,456) (1,374,302) 666,763 1,047,228 1,750,000 Net (Add)/Use of Reserves 4,526,544 1,611,012 2,166,763 2,547,228 3,250,000 Workers Comp 1,398,419 1,398,419 1,398,419 1,148,419 898,419 Unemployment 2,434,120 2,434,120 2,434,120 2,334,120 2,234,120 ERS 7,729,294 7,729,294 7,262,531 6,765,303 5,565,303 EBAL 4,245,324 4,245,324 4,045,324 3,845,324 3,645,324 Capital I 785,657 0 0 0 0 Capital II 6,700,584 5,875,228 4,375,228.35 2,875,228 1,375,228 Insurance 0 0 0 0 0 Total reserves 23,293,398 21,682,386 19,515,623 16,968,395 13,718,395 Reserves added/(used) (4,526,544) (1,611,012) (2,166,763) (2,547,228) (3,250,000)
QUESTIONS?
Recommend
More recommend
