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

2. 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

3. 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

4. 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)

5. 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%

6. 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%

7. 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%

8. 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

9. 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

10. FY17 Proposed Budget Questions?

11. 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.