1. FY 2015-2016 General Fund Budget Update February 16, 2016
11/21/2018 FY
General Fund Budget Update
February 16, 2016
11/21/2018

2. FY 2015-2016 Summary of Revenue, Expense, and Fund Balance
Exeter Township School District General Fund Budget
FINAL BUDGET
ESTIMATE
Real Estate Property Tax Rate
CHANGE
Total Revenue
$ 68,253,697
$ 68,306,106
$ ,409
Total Expenditures
$ 69,761,759
$ 69,067,291
$ (694,468)
Revenue less Expense
$ (1,508,062)
$ (761,185)
$ (746,877)
Fund Balance Components :
Commitments
$ 2,904,460
$ 2,904,460
Net Assignments
$ 6,624,300
$ 6,474,300
Unassigned
$ 5,415,997
$ 6,848,874
$ 14,944,757
$ 16,227,634
Unassigned Fund Balance as % of Total Expense
7.8%
9.9%
11/21/2018

3. Current Year Revenue Sources FY 2015-16
EXETER TOWNSHIP SCHOOL DISTRICT - GENERAL FUND REVENUE
FY 13-14
FY 14-15
FY 15-16
Change in Budget Estimate
Actual
Final Adopted Budget
Estimate FY
Local Sources
$ 46,757,010
$ 47,822,922
$ 47,618,363
$ ,645,947
$ ,584
State Sources
$ 17,635,627
$ 18,779,555
$ 19,965,960
$ ,992,107
$ ,148
Federal Sources
$ ,838
$ ,434
$ ,874
$ ,551
$ (323)
Other Sources
$ ,646
$ ,500
$ ,500
$ (1,000)
Total Revenue
$ 65,173,121
$ 67,242,411
$ 68,253,697
$ ,306,106
$ ,409
% Change
2.99%
3.2%
1.5%
1.6%
0.08%

4. 11/21/2018

5. 11/21/2018

6. 11/21/2018

7. FY 15.16 Basic Education, Special Education, and RTL
State Source
12.13 Actual
13.14 Actual
14.15 Actual
15.16 Board Adopted
Agreed upon Budget Framework
Presentation of Allocation
"Blue-lined Budget Amount"
Basic Education Funding
7,884,597
8,143,032
$ 8,143,047
$ 8,294,488
$ 8,639,113
$ 8,577,551
$ 8,290,664
Special Education Funding
1,775,958
1,852,400
$ 1,834,206
$ 1,905,489
$ 1,976,773
$ 1,975,318
$ 1,917,309
Ready to Learn (ABG)
180,893
$ ,445
$ ,445
$ ,252
11/21/2018

8. Basic Education Funding
NOTE: the formula used to distribute the temporary relief will likely NOT be the formula used to distribute the rest of the money.
The most likely increase for FY will be based on the $100 million increase for Education funding that was part of the “blue-lined” budget. (Governor’s proposed $377 million increase would provide an additional $231,000 in BEF)
Until there is legislative action, no additional BEF will flow to the district.
Estimated BEF outstanding: $4.7 million
What ultimately gets decided for sets the base onto which the funds get added.

9. Special Education Funding
$30 million increase in distributed through the new special education funding formula. (Governor proposed $20 million more, or $60k more in SEF).
11/21/2018

10. PlanCon For 2015-16 there is total confusion. The Plan… The Problem…
$2.5 billion borrowing done through the Commonwealth Financing Authority. Pays for current, in-progress, and new PlanCon projects.
Zero-out line item for ; districts paid for with bond proceeds.
The Problem…
Zero dollars appropriated for
Borrowing legislation is not approved; Administration now says borrowing is too costly.
No money to pay obligations.
Funding PlanCon will require a tax increase.
Be prepared to not get dollars in
ETSD Subsidy for 15-16: $1,413,179

11. Social Security
2 month lag (10 months) of payments to districts. Saves state $84 million. May and June payments will be received in July and August.

12. FY 2015-2016 General Fund Expenses
13-14
14-15
15-16
Major Object / Description
Actual
Final Budget 6/16/2015
Estimate
Estimate to Original Budget
100 - Employee Wages
$28,708,572
$28,908,546
$29,905,482
$29,696,255
-$209,227
200 - Employee Benefits
$14,609,983
$15,988,740
$18,209,577
$17,939,354
-$270,223
Professional & Technical Serv.
$1,989,077
$2,319,953
$2,241,398
$2,182,908
-$58,490
400 - Purchased Property Services
$1,406,518
$1,567,720
$1,737,526
$1,721,929
-$15,597
500 - Other Purchased Services
$5,118,380
$4,945,157
$5,024,934
$5,082,541
$57,607
600 - Supplies, Books, Heat/AC, Fuel
$2,097,250
$1,983,075
$2,227,232
$2,136,540
-$90,692
700 - Property
$879,910
$950,338
$635,717
$632,106
-$3,611
800 - Dues, Interest, Claims
$3,999,025
$5,001,684
$5,047,943
$5,034,702
-$13,241
900 - Principal Payment, Fund Transfers, Reserve
$5,135,984
$4,201,916
$4,094,747
$3,997,953
-$96,794
Total Expenditures Excluding Major Maint & Improv.
$63,944,698
$65,867,130
$69,124,556
$68,424,288
-$700,268
750/760 - Major Improvements
$734,232
$666,578
$637,203
$643,003
$5,800
Total General Fund Expenditures
$64,678,930
$ ,533,709
$69,761,759
$69,067,291
-$694,468
11/21/2018

13. Expense Object 100 – Salary/Wage
Estimate of Wages: $29.7 million or $209,000 less than budgeted.
Teacher Leaves – long-term sub costs less than budgeted salary of teacher
Teacher Resignations – replacement teacher costs less than teacher with several years of experience
Long-Term Substitute positions –temporarily filling positions with LTS’s at reduced salary.
Teacher Column Movement – less than budgeted.
New Budget Position not yet filled – ex. Technology coach
Per Diem substitute costs trending lower than budget.
Support Staff Vacancies – custodians, aides, bus drivers.
11/21/2018

14. Expense Object 200 - Benefits
Estimate of Benefits: $17.9 million or $270,000 less than budgeted.
Group Health Insurance – Unfilled positions, waive benefits ($57k)
Soc. Security & Retirement – driven by reduction in wages. ($134k)
Retirement Pay – based on current year retirements. ($100k)
11/21/2018

15. - 322 SERVICES FROM INTERMEDIATE UNIT ($171,826)
EXPENSE OBJECTS: 300 – Professional & Technical Services – Other Purchased Services
SERVICES FROM INTERMEDIATE UNIT ($171,826)
STUDENT PLACEMENT PRIVATE TUITION COST vs IU PROVIDED SERVICE
MISC LEGAL SVC $109,575
SPECIAL EDUCATION SETTLEMENT AGREEMENTS – LEGAL COSTS
CHARTER SCHOOL TUITION ($88,191)
PRIVATE TUITION
$220,369
PRIVATE PLACEMENT vs IU PROVIDED SERVICE; HIGHER PRIVATE PLACEMENT COSTS
OTHER PURCHASED SERVICES ($98,744)
11/21/2018

16. - 621-626 – ELECTRIC, NATURAL GAS, GASOLINE ($60,049)
EXPENSE OBJECTS: UTILITIES, SUPPLIES, BOOKS SOFTWARE 900 – BUDGET RESERVE
– ELECTRIC, NATURAL GAS, GASOLINE ($60,049)
- 610, 618, – SUPPLIES, TEXTBOOKS, SOFTWARE ($54,500)
BUDGET RESERVE ($97,000)
11/21/2018

17. FY 2015-2016 Summary of Revenue, Expense, and Fund Balance
Exeter Township School District General Fund Budget
FINAL BUDGET
ESTIMATE
Real Estate Property Tax Rate
CHANGE
Total Revenue
$ 68,253,697
$ 68,306,106
$ ,409
Total Expenditures
$ 69,761,759
$ 69,067,291
$ (694,468)
Revenue less Expense
$ (1,508,062)
$ (761,185)
$ (746,877)
Fund Balance Components :
Commitments
$ 2,904,460
$ 2,904,460
Net Assignments
$ 6,624,300
$ 6,474,300
Unassigned
$ 5,415,997
$ 6,848,874
$ 14,944,757
$ 16,227,634
Unassigned Fund Balance as % of Total Expense
7.8%
9.9%
11/21/2018

18. 11/21/2018