1. Business Services Update Board of Education Workshop December 6, 2016
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2. Agenda 2016-17 General Fund Budget Amendment #1
Summary of Revenues & Expenditures for Audited 2016, Original 2017, and Proposed Amendment #
Revenue by Source
Revenue by Object
Budget Schedule
Questions?

3. GF Budget Amendment #1

4. GF Budget Revenue

5. 2016-17 GF Budget Amendment #1 Revenue
Decrease in local revenue is related to a decrease in property taxes. The original budget was based on an estimate of the property tax values, and the amended is based the actual property tax values and millage rates per the state’s property tax site and our FY 16 L-4029.
The State Funding increase of approximately 2.4% is attributable to an increase in pupil enrollment and an increase in the MPSERS UAAL Stabilization State Aid payment. The FY original budget was based on an estimate of 12,740 students and the amended budget is based on 12,897 students. In addition, the State increased the District’s MPSERS UAAL Stabilization payment by approximately $938,000 to $9,024,000 which represents a rate of 11.7%. This revenue is offset by the District’s MPSERS UAAL retirement payment, so the increase has zero effect on fund equity.
The Federal funding increase of approximately 1.6% is related to an increase in the District’s federal grant awards (i.e. IDEA $2,125,725; IDEA Preschool $67,156; Title I $583,892; Title II $230,478; & Title III EL $212,816; Title III Immigrants $12,967).
The Interdistrict funding decrease of approximately 2.4% is related to decreases in revenue sources that are not on-going in
All other revenue sources were not effected greatly in this amendment

6. 2016-17 GF Budget Amendment #1 Revenue

7. 2016-17 GF Budget Expenditures

8. 2016-17 GF Budget Amendment #1 Expenses
Salaries remained consistent with the original budget. Benefits increased by approximately 3.7%, which is related to the increase in the MPSERS UAAL payment and other retirement costs.
Purchased services increased by approximately 2.5%, which is attributable to increases in contracted services for substitute teachers, healthcare aides, janitorial services and grounds maintenance.
Capital outlay increased by approximately 46%. The 46% increase in Capital Outlay is related to an increase in capital purchases, funded by the Technology Infrastructure Grant (TRIG), and also an increase in replacement vehicle purchases for the Operations and Maintenance Department.
Other expenses decreased by approximately 41%, which is attributable to prior year expenses that were included in the original budget, but are not on-going in FY (i.e. legal cost and healthcare cost).

9. 2016-17 GF Budget Amendment #1 Expenses

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11. MPSERS Employer Contribution Rates History And Future Projections
The state portion of the MPSERS contribution rate was $675 million in FY , $908 million in FY , and $982.8 million in FY
Note: Future projected rates are from Office of Retirement Services based on current actuarial valuation
House Fiscal Agency: January 2014

12. Budget Schedule December 6th: Board Budget Workshop
March – June: Develop Budgets and Amendments
May/June Board Meeting: Public Hearing and Millage Rate Adoption
June Board Meeting: Budget Adoption

13. Questions?