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 The first reading of the budget is to be approved and then placed on display.  The budget will be put on display on the website, and in the main office.

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Presentation on theme: " The first reading of the budget is to be approved and then placed on display.  The budget will be put on display on the website, and in the main office."— Presentation transcript:


2  The first reading of the budget is to be approved and then placed on display.  The budget will be put on display on the website, and in the main office for anyone who would like to review it.  The budget is placed on display for 30 days.  At the next Board of Education meeting a budget hearing will occur for final approval of the 2013 Budget

3  A budget is an outline of financial spending for the year.  A budget amendment does not have to occur until you are over 10% expenditures in a field, not on a specific account line item.  In the O and M area the budget is always inflated in order to have funds should an emergency arise during the school year.

4  This year due to the purchase and paying of a bond, in order to move the fund balance in the bond fund,expenditures and revenues in the Bond and Interest, O and M and Working Cash are different than in the past.  Insurance costs should decrease from what is projected once the reduction of benefits begin in January.  It is projected that for the 2013 school year we will received a 4.0 rating from the state.  PMA’s presentation in July outlined a reduction of the fund balance and state rating in the future due to the use of the funds in the Bond and Interest fund

5  The audit is in draft format at this time and will be presented at the September Board of Education meeting. The draft format has been used to prepare for this presentation.  Line items will be adjusted between now and the next meeting to reflect any projected costs or savings.

6 actuals unauditedProjected Fund Balance2003-20042004-20052005-20062006-20072007-20082008-20092009-20102010-20112011-20122012-2013 Education$1,334,460$966,331$279,530$397,867$432,926$1,007,914$1,993,121$2,036,141$2,884,737$3,032,359 Operations$37,728$376,197$836,226$1,142,163$1,526,687$1,292,416$1,053,963$1,226,193$1,591,154$1,609,387 Bond$508,220$572,200$666,066$740,829$841,658$934,577$1,077,396$1,114,735$863,564$1,563 Transportation$21,246-$47,400$386$16,998$76,971$112,777$188,786$104,074$42,075-$17,376 IMRF$68,683$85,244$117,170$96,955$81,236$64,689$68,156$55,970$51,998$32,696 Working Cash$911,432$1,125,809$1,305,636$1,559,110$1,756,317$1,784,629$1,876,072$1,965,558$2,124,189$2,252,010 total$2,881,769$3,078,381$3,205,014$3,953,922$4,715,795$5,197,002$6,257,494$6,502,671$7,557,716$6,910,639


8  Overall fund balance will decrease due to the parking lot project.  For the second year in a row the fund balance in the transportation fund is projected to be negative. We will levy for more funds again in this area or do a transfer during this school year if necessary.  At the close of the 2012 school year we had 296 days of cash on hand  At the close of the 2013 school year it is projected that we will have 310 days of cash on hand.

9 Revenue2003-20042004-20052005-20062006-20072007-20082008-20092009-20102010-20112011-20122012-2013 Education$6,059,446$5,223,910$5,394,940$5,804,632$6,167,780$6,695,744$7,631,166$6,815,192$7,753,453$7,558,712 Operations$895,485$1,100,365$1,437,104$1,563,622$1,282,817$897,687$1,051,988$1,005,623$1,184,073$1,885,013 Bond$598,749$659,106$776,459$807,058$883,412$918,465$1,052,998$1,006,152$268,951$0 Transportation$145,996$198,794$310,485$321,999$292,844$290,639$308,376$157,972$162,555$185,800 IMRF$120,333$126,324$166,125$133,264$137,038$142,725$175,295$189,703$266,705$212,863 Working Cash$218,469$219,648$237,245$253,474$197,206$101,715$90,699$89,486$85,971$941,572 total$8,038,478$7,528,147$8,322,358$8,884,049$8,961,097$9,046,975$10,310,522$9,264,128$9,721,708$10,783,960


11  We received tax receipts earlier this year than we have in the past. Therefore the revenue is somewhat inflated.  The Working Cash and O and M funds will see a one time increase due to the Bond transfer.

12 Expense2003-20042004-20052005-20062006-20072007-20082008-20092009-20102010-20112011-20122012-2013 Education$5,166,612$5,539,926$6,081,742$5,686,295$6,132,721$6,347,182$6,597,768$6,772,172$6,758,291$7,411,089 Operations$1,764,349$783,349$977,074$1,257,685$898,292$960,626$1,337,064$833,393$943,823$1,866,780 Bond$510,899$609,790$682,593$732,295$782,582$858,347$913,775$968,813$483,725$862,000 Transportation$225,772$278,419$262,698$305,297$232,861$252,938$227,503$242,684$231,313$245,250 IMRF$100,529$120,053$134,200$153,478$152,757$166,334$179,602$201,889$208,342$235,165 Working Cash$0 total$7,768,161$7,331,537$8,138,307$8,135,050$8,199,213$8,585,427$9,255,712$9,018,951$8,625,494$10,620,284


14 Education2009-20102010-20112011-20122012-2013 Salaries$4,841,924.00$5,010,298.00$5,085,607$5,230,642 Benefits$791,632.00$787,062.00$935,812$1,026,081 Purchase Services$176,632.00$694,773.00$496,442$500,601 Supplies$301,097.00$383,915.00$371,157$366,086 Capital$163,847.00$91,850.00$138,179$198,179 Other$313,934.00$88,800.00$38,900$89,500 Total$6,589,066.00$7,056,698.00$7,066,097$7,411,089

15 O /M2009-20102010-20112011-20122012-2013 Salaries$247,929.00$267,793.00$303,000$340,000 Benefits$52,926.00$57,420.00$83,605$76,180 Purchase Services$242,467.00$344,500.00$284,700$292,700 Supplies$217,255.00$333,400.00$308,400$248,400 Capital$575,947.00$396,500.00$206,500$858,500 Other$540.00$54,000.00$4,000$51,000 Total$1,337,064.00$1,453,613.00$1,190,205$1,866,780

16  Expenditures look higher due to the payment of the Bond and the parking lot.  This is offset by the Revenue from the Bond.  3% increase in salaries for staff  Even though retired positions reduce costs added extra kindergarten this year and third grade brought salaries higher.

17  Increase in expenses due to parking lot and bond  Expect a reduction in education fund expenses if enrollment stays the same and positions that are in the budget are not used.  We continue to look for ways to cut expenses without cutting quality to the students.

18  We still are unsure what will happen with pensions. If this shift comes to the District expenses of benefits will increase.  When a facility plan is completed additional needs for the building may have an impact.  Future changes with health care can have an impact, as while we have made reductions in our plan, they were not significant enough to forgo penalties under new health care reform in the future.

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