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2012-13 Budget Hearing and Annual Meeting Monday, August 20, 2012 1.

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Presentation on theme: "2012-13 Budget Hearing and Annual Meeting Monday, August 20, 2012 1."— Presentation transcript:

1 2012-13 Budget Hearing and Annual Meeting Monday, August 20, 2012 1

2 Vision Statement Focusing on high academic excellence, Parkview School District will provide a safe environment, within quality facilities, where students reach their full potential and become productive citizens. 2

3 Mission Statement The Parkview School District, in partnership with family and community, will graduate individuals equipped to be responsible, productive citizens in our changing world by providing quality instruction and a progressive curriculum in a secure and challenging environment which will motivate all students to achieve their greatest potential. 3

4 Notes on the Budget By law, Parkview School District uses the Wisconsin Uniform Financial Accounting Requirements (WUFAR) for budgeting The 2012-13 Budget for the Parkview School District is an estimate – The budget presented today may change between now and Nov. 1 st when the final levy is set – Events that could change the final numbers 3 rd Friday pupil count in September Final Equalization Aid numbers from DPI 2011-12 audit The Parkview School District will continue to update information as it becomes available to us 4

5 Important Dates 2011-12 Financial Audit – July 1, 2012 until the end of the calendar year as the auditors work on their final reports September 17 th – first aid payment from the state (15% of total) September 21 st – 3 rd Friday pupil count October 15 th – General Aid certification from DPI November 1 st – deadline for adopting the “original” budget and setting the levy amount 5

6 Comparative Cost per Member Comparative Cost per Member is total costs divided by the number of students in the district While revenue sources have either declined or remained stagnate, costs have continued to rise leading to necessary budget cuts 6

7 Membership Count and Enrollment Membership count is one of the most important numbers for a school district because it will impact your revenue limit and equalization aid Due to Parkview’s declining enrollment, the revenue limit for the district has been decreasing over the last few years In addition, reductions made to the allowable per pupil change have limited the amount of money a district is able to receive 7

8 Mill Rate Mill rate is a number used to equate the amount of taxes that will be assessed on a property that has a certain evaluation For example, a mill rate of $9.88 would mean that a property evaluated at $100,000 would pay $988 in taxes for the school district It is important to note that the mill rate is an average for multiple municipalities and an individual’s actual mill rate could vary 8

9 Expenses by Object This pie chart provides a breakdown of Parkview’s expenses for Fund 10 In the past, salaries and benefits typically accounted for about 72% of expenses However, due to benefit changes and staff reductions, that number has been reduced to about 66% 9

10 General Aid Worksheet Estimated aid amount as of July 20, 2012 Provides an estimate of General Aid received from the state 10

11 Revenue Limit Worksheet Line 11 – Revenue Limit Line 12A – Estimated General Aid Line 19 – All Fund Tax Levy and Mill Rate Sheet used to calculate the district’s allowable revenue limit each year 11

12 Proposed Budget Parkview School District is projected to have a shortfall of $275,201.72 for the 2012-13 fiscal year – A reduction in state aid and a decrease in the revenue limit are the main reasons for the shortfall – The shortfall will lead to a reduction in the district’s fund balance amount 12

13 Fund Balance Fund balance represents the fund’s total assets minus its liabilities Fund balance is not a cash account and does not represent how much money a district has in the bank Parkview School District is projected to have a fund balance of 22% after this year 13 YearFund Balance 2009-10$2,646,650.65 2010-11$2,662,425.82 2011-12$2,642,487.38 2012-13$2,367,286.66* * Estimated

14 Tax Levy The tax levy is based on a variety of numbers and is directly impacted by the amount of aid we get from the state, which we will not know until mid-October However, we can use some of the numbers we do have already and make an estimate of what it might be this year The chart to the right gives a history of the amount Parkview School District has levied in the past and how much it anticipates this year 14 YearTax Levy 2008-09$3,531,948 2009-10$3,741,524 2010-11$4,190,570 2011-12$3,968,782 2012-13$3,924,520* * Estimated amount

15 Equalization Aid Equalization Aid or General Aid is money that is received from the state Recent changes in the state budget have reduced the amount of Equalization Aid given out each year Over the past five years, Parkview has been receiving less and less Equalization Aid from the state due to a decrease in overall funds and declining enrollment 15 YearEq. Aid 2008-09$7,656,220 2009-10$7,343,222 2010-11$7,004,749 2011-12$6,305,595 2012-13$5,809,422* * Estimated amount

16 Revenue Limit The revenue limit is the amount that a district is able to collect in revenues from state aid and taxes Parkview has seen their revenue limit decline over the past five years due to changes in the state’s budget and declining enrollment 16 YearRevenue Limit 2008-09$11,134,341 2009-10$11,025,831 2010-11$11,102,556 2011-12$10,162,211 2012-13$9,645,262* * Estimated amount

17 Budget Adoption The Budget Adoption Summary is a DPI required document that must be completed every year by a school district The chart below contains information on the Parkview’s Fund Balance and the revenues and expenditures for the General Fund 17

18 2012-13 Budget Cuts and Savings 18 DescriptionAmount Retirement Savings$200,000 Administrators Paying into Retirement$30,000 Utility Efficiencies$60,000 Eliminate Dean of Students Position$60,000 Health Insurance Savings$200,000 Savings from Closing Newark$170,000 Sale of Newark*$202,500 *Pending voter approval Total Savings$922,500

19 2012-13 Positives 2% salary increase for all certified and classified staff to retain high-quality employees Reduced maintenance costs from managing only three buildings instead of four Reduction in health insurance costs while maintaining quality coverage Energy efficiency through Honeywell to lower energy costs 19

20 Contact Information Ben Irwin – Business Manager Email – Phone – 608-879-2717 ext. 6114 Office located in the Parkview High School Office A copy of this PowerPoint and other budget information will uploaded to the Parkview School District website under Budget Information, which can be found within the Business Office link 20

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