FY17 Proposed Budget Fiscal Year 2016-2017 Monday, August 29, 2016 Jeffrey Schubert, Director of Finance and Operations

FY17 Proposed Budget Purpose for Budget The FY17 Proposed Budget is intended to assist the Board and the public in understanding the District's overall projected finances for FY17. The FY17 Proposed Budget is the proposed financial plan for the new fiscal year, which runs from July 1st through June 30th. The FY17 Proposed Budget provides a tool for: Trend/Scenario Analysis Implementation of District Goals/Needs Forecasting

FY17 Proposed Budget Unknowns The FY17 Proposed Budget is subject to many complex economic, social, and political risks and uncertainties, many of which are outside the ability for the District to control. State of Illinois Economic Situation Changes in Legislation Liability of Pension Rates Enrollment Changes Individualized Student Needs/Requirements Capital Needs

FY17 Proposed Budget Revenue Assumptions In developing the District’s FY17 Proposed Budget revenues, the following assumptions were implemented: Enrollment: 2,226 (9 Month ADA) Levy Collection Rate: 99.7% CPI: 0.8% for Levy Year 2015 (88% of the levy budget) 0.7% for Levy Year 2016 (12% of the levy budget) Debt Service 2011 Series Bond Refunding ($400,000 annual Sinking Fund and $250,000 cash Injection) State Categorical Payments: 4 Payments (1 from FY16 & 3 from FY17) Foundation Formula for General State Aid Foundation level at $6,119 times ADA Fully Funded (General Assembly passed SB 2047)

FY17 Proposed Budget Revenue Summary The following is the Revenue summary for all funds in the District’s FY17 Proposed Budget: Revenue by Source 2016 Budget 2017 Budget $ Change % Change Local Property Tax 24,766,833 24,818,187 51,354 0.2% Other Local 1,536,314 1,659,953 123,639 8.0% General State Aid 1,540,375 1,860,645 320,270 20.8% Other State 1,531,305 2,378,378 847,073 55.3% Federal 1,331,565 1,268,629 (62,936) -4.7% Total Revenue 30,706,393 31,985,792 1,279,400 4.2%

FY17 Proposed Budget Expenditure Summary The following is the expenditure summary for all funds in the District’s FY17 Proposed Budget: Expenditure By Object 2016 Budget 2017 $ Change % Change Salaries 14,829,694 15,189,628 359,934 2.4% Employee Benefits 3,056,615 2,996,054 (60,561) -2.0% Purchased Services 3,521,200 3,295,964 (225,236) -6.4% Supplies & Materials 1,774,565 1,698,625 (75,940) -4.3% Capital Outlay 2,495,818 2,664,048 168,230 6.7% Other Objects 5,056,533 5,283,144 226,611 4.5% Non-Capitalized Equipment 108,267 99,015 (9,252) -8.5% Total Expenditure by Object 30,842,692 31,226,477 383,785 1.2%

FY17 Proposed Budget Bottom Line The following is the operating results projected in the District’s FY17 Proposed Budget:   2016 Budget 2017 Budget Beginning Fund Balance 9,717,590 12,634,982 Total Revenues 30,706,393 31,985,792 Total Expenditure 30,842,692 31,226,477 Operating Results (Rev-Exp) (136,299) 759,315 Other Sources/(Uses) - Fund Balance 9,581,291 13,394,297 % Fund Balance 31% 43%

FY17 Proposed Budget Conclusion The District’s FY17 Proposed represents: 7th Consecutive Balanced Budget Positive Fund Balance Facility Improvements 1:1 Technology Pilot Program Dual Language Program At-Risk Pre-School Program

FY17 Proposed Budget Timeline 5/23/2016 Finance Committee Meeting - Discuss FY17 Preliminary Budget 6/20/2016 Finance Committee Meeting - Discuss FY17 Draft Budget 7/18/2016 Finance Committee Meeting – Present FY17 Tentative Budget 7/25/2016 Board of Education Meeting – Board of Education Resolution placing Tentative Budget on display for at least 30 days prior to adoption at the Board of Education Meeting on 8/29/2016 (105 ILSC 5/17-1). 7/26/2016 Publish legal notice indicating availability for public inspection of Tentative Budget and date, time, and location of public hearing (105 ILSC 5/17-1). 7/26/2016 Budget made available for public inspection. 8/29/2016 Board of Education Meeting - Hold Public Hearing on the Budget. 8/29/2016 Board of Education Meeting – Board of Education Resolution adopting Final Budget (must adopt annual budget by the end of the first quarter of the fiscal year and file with the County Clerk and ISBE within 30 days of adoption). 9/30/2016 File the Final Budget (ISBE 50-36) with the County Clerk Offices

FY17 Proposed Budget Questions?

FY17 Proposed Budget Recommendation Given the information above, the Finance Committee recommends that the Board of Education adopt the FY17 Proposed Budget at the Monday, August 29, 2016 Regular Board of Education Meeting.