Presentation on theme: "BUDGET PRESENTATION FISCAL YEAR 2013-2014. 2014 BUDGET AGENDA Discussion Topics: Budget Calendar Key Basic Assumptions Types of Funds Budgeted Expenditures."— Presentation transcript:
BUDGET PRESENTATION FISCAL YEAR 2013-2014
2014 BUDGET AGENDA Discussion Topics: Budget Calendar Key Basic Assumptions Types of Funds Budgeted Expenditures by Fund by Object 2013 Actual Revenues and Expenditures (Unaudited) 2014 Budgeted Revenues and Expenditures 2014 Budget by Object 2014 Budgeted Fund Balances EAV Data used for General State Aid CPI DATA
BUDGET CALENDAR : February –Budget Planning March – Budget Request Submitted to Principals and Program Administrator April - Budget Request Received by Principals and Program Administrator Business Office Assembles Budget Request and gathers projected fix costs. Board Approves staffing and facility improvements May -Prepare Preliminary Budget for review June-Prepare Tentative Budget Board reviews the Tentative Budget Board approves encumbrance and expenditure authorization August-Budget Presentation (We are here) Tentative budget on ISBE Form on public display September Board holds public hearing on 2013-2014 budget Board approves the 2013-2014 bud get
KEY BUDGET ASSUMPTIONS: Key Budget Assumptions: Revenue: Consumer Price Index (CPI ) is projected to be 2% flat. (Used to Calculate the Tax Levy - November 2014) EAV is projected to decline slightly. Student fees are expected to remain flat each year. General State Aid is budgeted as appropriated by the state is expected to increase 14% over FY 2013 scheduled payments. Federal Funds are budgeted as appropriated by the state and denoted in the school grant applications for FY 2014 are expected to remain constant. Real Estate -New Property Growth is expected to be $524,293
KEY BUDGET ASSUMPTIONS: Expenditures: Personnel (63.8% of the District’s Budget): Teacher Full Time Equivalent (FTE) are expected to remain at 105.5 Student / Teacher and District Staff Ratio are expected to be 13.21 No material changes in Teacher FTE No material changes in Administrative FTE Salaries and Benefits: Staff Salaries are expected to increase by 3.56% Teachers are projected to change lane at an average cost of $44,689. 2-3 Paraprofessionals have been budgeted if necessary to adjust for increase enrollment and class size requirements. Anticipated early retirement cost are expected to be $42,000 Health Insurance Cost are expected to increase by 16% (Reduced by 9%) No change in cost for Dental Insurance Cost. No material changes in FICA, Medicare, IMRF or TRS rates.
KEY BUDGET ASSUMPTIONS: Purchased Services (10.6% of the District’s Budget): Building Grounds and Repair work are expected to cost $200,000 in the following areas: Parking Lot Pavement Roof Repair Work (JFK Elementary School) Building Maintenance Work (Lincoln Middle School) Life Safety Work (JFK and Lincoln Middle School) Landscaping Work Other Purchases Services: Anticipated Supplemental Educational Services (SES) are expected to cost $61,000. Workers’ Compensation Insurance are expected to decrease by 6% over FY 2013. Property / Casualty Insurance are expected to decrease by 1.3% over FY 2013.
KEY BUDGET ASSUMPTIONS: Capital Outlay (1.9% of the District’s Budget): Security Cameras and GPS system are expected to cost $13,000 Note: Subsequent Final Adjustment to the budget will be updated to reflect the recent RFP estimates of $18,000. No other material changes Debt Services (13.3% of the District’s Budget): Bond Schedule for Principal and Interest on combined debt for FY2014 is expected to be: Principal - $1,439,075.90 Interest $1,167,470.35
DISTRICT FUNDS FundDescription 10Education 20Operations and Maintenance 30Debt Services 40Transportation 50Municipal Retirement/SS 60Capital Projects*Restricted Funds 70Working Cash**Unrestricted Funds 90Fire Prevention and Safety
2014 BUDGET COMPARISON BY FUND BY OBJECT (ED FUND)
2014 BUDGET COMPARISON BY FUND BY OBJECT (O & M)
2014 BUDGET COMPARISON BY FUND BY OBJECT (DEBT SERVICES)
2014 BUDGET COMPARISON BY FUND BY OBJECT (TRANSPORTATION)
2014 BUDGET COMPARISON BY FUND BY OBJECT (IMRF)
2014 BUDGET COMPARISON BY FUND BY OBJECT (CAPITAL PROJECTS)
ACTUAL REVENUES, EXPENDITURES AND FUND BALANCE BY FUND(2013)
BUDGETED REVENUES, EXPENDITURES AND FUND BALANCE BY FUND (2014)
REVENUE BUDGET BY PROGRAM (2014)
EXPENDITURE BUDGET BY OBJECT (2014)
FUND BALANCE CHART AND CHANGE (2014)
TAX REVENUE BASE Real EstateAir PollutionRailroadTotal Equalized Valuation Tax Year 2012 $ 345,776,167.00 $ - $ 2,150,274.00 $ 347,926,441.00 %99.38%0.62%100.00%
CONSUMER PRICE INDEX (USE IN CALCULATING THE TAX LEVY) The 11 year average CPI rate is 2.4% NOTE: District 81 used a CPI rate of 2.0% in estimating tax rate for tax levy.
REFERENCES ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txtftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt a resourceful site on historical CPI rates. http://www.cookcountyclerk.com/tsd/taxagencyreports/Pages/default.aspxhttp://www.cookcountyclerk.com/tsd/taxagencyreports/Pages/default.aspx a resourceful site on obtaining historical and current EAV, Tax Rates, Tax Levy, New Property Growth, and Tax Extensions. Agency Code 04-0400-000 http://www.isbe.net/sfms/afr/ctl.htmhttp://www.isbe.net/sfms/afr/ctl.htm a resourceful site on gather ISBE Tax Levy Form 50-02 Debt Services- Cook County, Illinois Bond Schedule (Schiller Park SD 81) https://sec1.isbe.net/iwas/asp/login.asp?js=truehttps://sec1.isbe.net/iwas/asp/login.asp?js=true, a resourceful site on obtaining Federal Grant Applications and appropriations http://webprod1.isbe.net/gsainquiry/default.aspxhttp://webprod1.isbe.net/gsainquiry/default.aspx, a resourceful site on obtaining the appropriations for General State Aid Payment for school year 2014. Repair cost – Reviewed Life Safety Cost and obtained Vendor Estimates Insurance cost – Contract renewals for 2013-2014 Board approved Salary Rates for 2014 School Building Budgets Sheets for 2014 Step and Lane Change Cost Analysis Work sheet (2014)– Digital Schools