SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET MARCH 10, 2020
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET BUDGET SUMMARY REVENUES (+2.4%) $33,286,480 EXPENDITURES (+2.6%) $35,449,596 DEFICIT $ 2,163,116 Budget includes five (5) new positions Budget does not include a real estate tax increase
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET The expenditure budget is built based on the information that is available today and assumes all positions will be filled for the entire school year, student placements in private and public facilities will be the same as today and all requests for supplies and equipment submitted by the administrators will be purchased. If form holds true compared to other fiscal years, actual expenditures should be closer to $34.0 million because positions go unfilled, staff go on unpaid leave, student placements change constantly and not all items requested are purchased. However, when compiling a budget these items are included to provide the Board with the potential costs that could be incurred during the fiscal year. Also, it is more fiscally conservative to budget all potential expenditures and spend less, as opposed to randomly reducing budgeted expenditures and then overspending the budget because potential costs materialized.
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET REVENUE CHANGES Real Estate Taxes (New Construction) $ 275,000 BEF and Special Education $ 114,000 Investment Earnings $ 100,000 Student Transportation Subsidy $ 193,000 Safe Schools Grant $(190,000) Miscellaneous Categories $( 49,000) EXPENDITURE CHANGES Salaries and Health Insurance $ 503,000 PSERS and FICA $ 214,000 Textbooks (K – 5) $ 125,000 Tuition to Cybers and Other LEAs $ 110,000 CAIU Services $ 90,000 Miscellaneous Categories $ 19,000 Equipment Replacement $( 154,000)
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET COMMONWEALTH BUDGET The Commonwealth budget proposed by the Governor includes a $85,000 increase q in Basic Education Funding and a $29,000 increase in Special Education Funding. These increases are included in the budgeted revenue amounts. The Governor has also proposed level funding for the Ready-To-Learn Block Grant. q The allocation for the District is approximately $320,000 and this amount is also included in budgeted revenues.
FUNCTIONAL SPENDING – 2018-2019 $0.50 , 2% $3.20 , 10% Instruction Support $9.60 , $18.10 , Student Act 30% 58% Debt Service Dollar Figures in Millions
FUNCTIONAL SPENDING BUDGET COMPARE $22.00 $20.00 $18.00 $16.00 $14.00 $ MILLIONS $12.00 20-21 $10.00 19-20 $8.00 18-19 $6.00 $4.00 $2.00 $- Instruction Support Student Act Debt Service
OBJECT SPENDING – 2018-2019 1% 2% 10% 3% Salary 39% Emp Benefits Professional Servs 15% Property Servs Purchased Servs Supplies Equipment 2% 4% Other Objects Debt Payments 24%
OBJECT SPENDING COMPARE $14 $12 $10 $ MILLIONS $8 $6 20-21 19-20 $4 18-19 $2 $- … … … … y s l y d s t s t a n b t e t r t e n i c a r e e i f s e l e e o l p m D a a p j n i p h b s S o p e s u c O r i B e u r S P u f q r p o P e E r m h P t E O
ACTUAL REVENUE FUNDING STREAMS 35 30 25 $ MILLIONS 20 Local 15 State Federal 10 Total 5 0 13-14 14-15 15-16 16-17 17-18 18-19 FISCAL YEARS
ACTUAL SALARY & BENEFIT COSTS 25 20 15 $ MILLIONS Salary Benefits 10 Total 5 2020/2021 costs will account for 63% of total budget 0 13-14 14-15 15-16 16-17 17-18 18-19 FISCAL YEARS
ACTUAL SALARY & BENEFIT COSTS 25 20 15 $ MILLIONS Salary Benefits 10 Total 5 2020/2021 costs will account for 63% of total budget 0 13-14 14-15 15-16 16-17 17-18 18-19 FISCAL YEARS
ACTUAL DEBT SERVICE ACTIVITY 30 25 20 $ MILLIONS Remaining P&I Payments ($Millions) 15 19/20 = $3.1 Payments 20/21 = $3.2 21/22 = $2.5 Balance 22/23 = $2.4 10 23/24 = $2.4 5 0 13-14 14-15 15-16 16-17 17-18 18-19 FISCAL YEARS
STUDENT ENROLLMENT 2000 1800 1600 1400 1200 ENROLLMENT FIGURES TAKEN FROM THE MONTH OF JANUARY 1000 FOR EACH FISCAL YEAR. HS 800 MS ES 600 TOTAL 400 200 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 FISCAL YEARS
PSERS/HEALTH/CYBER COSTS 6 Total for 20/21 = $9.4 million 5 Costs = 27% of total budget 4 $ MILLIONS 3 PSERS Health Charter 2 1 0 16/17 17/18 18/19 19/20 20/21 21/22 22/23 23/24 FISCAL YEARS
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET DISTRICT MILLAGE RATE CHANGES 2019-2020 2011-2012 Increase Greenwood 14.190 11.340 25% Newport 15.088 13.767 25% Susquenita 13.033 12.200 7% West Perry 12.790 10.210 25% East Pennsboro 12.379 10.309 20% Halifax 22.487 20.450 10%
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET Future Budgeting Issues PSERS Costs While the employer contribution percentage has begun to stabilize, it is still very high and will remain so for the next 15 years. The District will be required to contribute approximately $5 million on an annual basis beginning with the 2022-2023 school year and the total amount required through 2037-2038 will be approximately $75 million. Commonwealth Budgets While Basic Education and Special Education funding has increased in the past several years the additional amount of the Basic Education subsidy received by the District has been minimal. This is due to the new funding formula that was implemented for the 2016-2017 school year and the District being rated above statewide averages in several of the components of the formula. The projected funding increase for 2020-2021 is $85,000 and the increase for 2019-2020 was $50,000.
FUTURE BUDGET PROJECTIONS 18-19 19-20 20-21 21-22 22-23 23-24 45 40 35 $ 30 M I 25 L L 20 I O 15 N S 10 5 0 Revs Exps Fund Bal
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET Summary The 2020-2021 General Fund budget has increased by q approximately $907,000 and is mainly attributable to increased costs for Salaries, Employee Benefits and Language Arts Textbooks for grades K – 5. The current financial position of the District is stable and is q projected to remain so through the 2023-2024 school year, assuming there are no unanticipated major expenditures or unexpected reduction of revenues. Real estate tax increases, cyber/charter school reform and/or additional state revenues would enhance and extend the current stable financial condition past the 2023-2024 school year. The Administration will continue to diligently monitor spending to ensure that necessary funds are available to provide a quality, well-rounded education to all District students.
SUSQUENITA SCHOOL DISTRICT 2020-2021 GENERAL FUND BUDGET QUESTIONS
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