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North Mac CUSD #34 2012-2013 Budget Presented to the Board of Education August 22, 2012.

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Presentation on theme: "North Mac CUSD #34 2012-2013 Budget Presented to the Board of Education August 22, 2012."— Presentation transcript:

1 North Mac CUSD # Budget Presented to the Board of Education August 22, 2012

2 North Mac uses Cash Basis Accounting: Revenues and expenditures are recognized at the time cash is received or disbursed. Beginning fund balances as of 7/1/2012 have been finalized by the district auditors. Budget Informational Notes

3 Public School Budgets are estimates of revenues and expenditures. Contract negotiations, once resumed, will impact expenditures State revenue delays will affect cash flow and budget revenue streams Changes in personnel or student needs will impact expenditures Budget Informational Notes

4 The decrease in general state aid of $636,000 reflected in the budget is due to the 10.84% proration of GSA by the legislatures budget The state currently owes the district $224,560 from FY12 for the following: Transportation - $111,769 Special Education - $106,352 Other - $6,439 Budget Informational Notes

5 FY13 budget reflects an increase in EAV of approximately 1% FY13 budget contains corporate personal property replacement tax dollars in the Education ($144,035) and IMRF funds ($4,800) Budget Local Revenue

6 Federal revenues are projected at $1,053,763 from various programs including Title I Title II I.D.E.A.(Special Education) Medicaid Budget Informational Notes

7 The Education, Operations & Maintenance, Bond & Interest, Transportation and Municipal Retirement/Social Security Funds are expected to have deficit spending The goal will be to reduce spending where possible and to seek additional funding sources such as grants, when available District health insurance rates for renewal are not yet available Budget Informational Notes

8 State Defined Operating Funds Education Fund Operations & Maintenance Transportation Fund Working Cash Fund These funds are used in the formula to determine the financial profile of a school district Budget Summary Detail Operating Funds

9 Revenues

10 Local Sources: Tax Revenues from Levy Corporate Personal Property Replacement Tax Food Service Revenues (Breakfast/Lunch Sales) Textbook Rental/School Fees Interest State Sources: General State Aid Grant Revenues Categoricals (Special Ed/Transportation) Federal Sources: Title Funding Medicaid I.D.E.A. (Special Education) Grant Revenues Revenue Sources

11 Revenue Sources Operating Funds Local $6,236,30243% State $7,370,76250% Federal $1,053,7637% Total $14,660,827100%

12 Revenue Sources Operating Funds FY 2011FY 2012FY 2013 % Change FY12 to FY13 Local $6,566,804 $ 5,768,188$6,236,302+8% State $ 8,209,590 $ 7,693,0682 $ 7,370,762-4% Federal $ 1, $ 1,036,456$1,053, % $ 16,431,476 $ 14,497,712 $ 14,660, %

13 Expenditures

14 ISBE classifies expenditures using the following categories: Salaries Benefits Purchased Services Supplies Capital Outlay Other (Includes Dues/Fees, Tuition and Debt Principal/Interest) Expenditures Overview

15 Education Fund Expenditures Salaries$6,229,869 Benefits$1,637,223 Purch Serv$300,957 Supplies$799,665 Cap Outlay$96,200 Other/Tuition$2,696,492 TOTAL$11,760,374

16 Operations & Maintenance Expenditures Salaries$496,769 Benefits$114,020 Purch Serv$286,900 Supplies$426,350 Cap Outlay$3,000 Other/Tuition$0 TOTAL$1,327,039

17 Transportation Expenditures Salaries$526,450 Benefits$77,940 Purch Serv$66,341 Supplies$157,000 Cap Outlay$126,907 Other/Tuition$100 TOTAL$954,738

18 Education Fund Budgeted Revenues $11,313,463 Budgeted Expenditures ($11,760,406) Surplus/(Deficit) ($446,943) Audit Fund Balance 7/1/12 $274, 965 Projected Fund Balance 6/30/13 ($171,978) Budget Summary Detail Operating Funds - Education

19 O&M Fund Budgeted Revenues $1,319,904 Budgeted Expenditures ($1,327,039) Surplus/(Deficit) ($7,135) Audit Fund Balance 7/1/12 $89,214 Projected Fund Balance 6/30/13 $82,079 Budget Summary Detail Operating Funds - Operations & Maintenance

20 Transportation Fund Budgeted Revenues $660,377 Budgeted Expenditures ($954,738) Surplus/(Deficit) ($294,361) Audit Fund Balance 7/1/12 ($118,140) Projected Fund Balance 6/30/13 ($412,501) Budget Summary Detail Operating Funds - Transportation

21 Working Cash Fund Budgeted Revenues $55,635 Budgeted Expenditures (0) Surplus/(Deficit) $55,635 Audit Fund Balance 7/1/12 $759,121 Projected Fund Balance 6/30/13 $814,757 Budget Summary Detail Operating Funds - Working Cash

22 Revenues $ 13,349,379 Expenditures $ (14,042,183) Surplus/(Deficit) $ (692,804) Budget Summary Detail Total Operating Funds

23 Bond & Interest Fund Budgeted Revenues $760,611 Budgeted Expenditures ($787,623) Surplus/(Deficit) ($27,012) Audit Fund Balance 7/1/12 $81,132 Projected Fund Balance 6/30/13 $54,120 Budget Summary Detail Other Funds - Bond & Interest

24 IMRF/Social Security Fund Budgeted Revenues $167,429 Budgeted Expenditures ($413,383) Surplus/(Deficit) ($245,954) Audit Fund Balance 7/1/12 $ 41,115 Projected Ending Fund Balance 6/30/13 ($204,838) Budget Summary Detail Other Funds – IMRF/Social Security Fund

25 Life Safety Fund Budgeted Revenues $55,235 Budgeted Expenditures ($0) Surplus/(Deficit) ($55,235) Audit Fund Balance 7/1/12 $179,821 Projected Fund Balance 6/30/13 $235,056 Budget Summary Detail Other Funds - Life Safety Fund

26 Tort Fund Budgeted Revenues $328,173 Budgeted Expenditures ($203,228) Surplus/(Deficit) $124,945 Audit Fund Balance 7/1/12 $ 61,243 Projected Fund Balance 6/30/13 $186,189 Budget Summary Detail Other Funds – Tort

27 Budget Summary RevenuesExpendituresSurplus/(Deficit)7/1/12 balance6/30/13 balance Education $ 11,313,463 $ 11,760,406 $ (446,943) $ 274,965 $ (171,978) Operations & Maintenance $ 1,319,904 $ 1,327,039 $ (7,135) $ 89,214 $ 82,079 Bond & Interest $ 760,611 $ 787,623 $ (27,012) $ 81,132 $ 54,120 Transportation $ 660,377 $ 954,738 $ (294,361) $ (118,139) $ (412,501) Municipal Retirement / Soc Security $ 167,429 $ 413,383 $ (245,954) $ 41,115 $ (204,838) Capital Projects $ - Working Cash $ 55,635 $ - $ 55,635 $ 759,121 $ 814,757 Tort $ 328,173 $ 203,228 $ 124,945 $ 61,243 $ 186,189 Fire Prevention & Safety $ 55,235 $ 0 $ 55,235 $ 179,821 $ 235,056 Total $ 14,660,827 $ 15,446,417 $ (785,590) $ 1,368,474 $ 582,884


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