Budget Overview
Jackson Zimmermann
Executive Director – Fiscal Services
Your Budget Book
Section A
Overview
Section B
Revenue
Analysis
Section C
Operational
Expenses
Section D
Self-Sustaining
Expenses
Section E
Budget Data
Analysis
Section F
Supporting
Documents
2
Revenue Sources
(in Millions)
Fund Balance
$2.17
1.41%
State
$43.32
28.13%
Federal
$2.94
1.91%
Local
$105.55
68.55%
Total Revenues: $153,972,043
3
Revenues
FY 2012-2013
School Board’s
Adopted
FY 2013-2014
Superintendent’s
Requested
$ Change
% Change
Local-Schools
$1,592,574
$2,052,531
$459,957
28.88%
State
$42,950,045
$43,319,323
$369,278
0.86%
Federal
$2,935,218
$2,935,218
$0
0.00%
$100,106,298
$102,618,995
$2,512,697
2.51%
$2,790,771
$2,170,976
($619,795)
-22.21%
$875,000
$875,000
$0
0.00%
$151,249,906
$153,972,043
$2,722,137
1.80%
Local Transfers
Use of Fund
Balance
CIP and Other
Transfers
Totals
4
Use of Fund Balance
Current Fund Balance (Unaudited)
$7,932,654
Budgeted in FY 12-13
$2,790,771
Anticipated Transfer to CIP (FY 12/13)
$2,300,000
Proposed Use in FY 13-14
$2,170,976
Projected Available Fund Balance
FY 13-14
Fund Balance Percentage of FY 13-14
(As a % of Current Anticipated Revenues)
$670,907
0.44%
5
Where do we Invest
Our Resources
Superintendent's 2013/2014 Proposed Budget
By Type of Expense
TRANSFERS
$3,479,355
2.24% CAPITAL
$796,999
0.51%
OPERATIONAL
$19,858,710
12.78%
PERSONNEL
$131,309,625
84.47%
Total Expenses: $155,444,689
7
Drivers of the Superintendent’s
Funding Request
•
•
•
•
Student Enrollment
Free/Reduced Lunch Students
Maintenance of Effort
Market Competitiveness
Student Enrollment
Enrollment is projected to increase by 6.52% (846 students)
over the next 5 years.
14,000
13,500
13,000
12,500
12,000
11,500
Actual
Projected
Free/Reduced Lunch Student Trends
4,000
3,500
3,000
2,500
2,000
2008-09 2009-10 2010-11 2011-12 2012-13 2013-14
Budgeted F/R Students
Free/Reduced trends are based upon a three year weighted average to temper major fluctuations
Maintenance of Effort (Page A-19)
$3,198,210
Compensation: Market Recommendations
World at Work estimates a 2.5% compensation increase.
Based upon staff recommendations, the Joint Boards
adopted a 1% – 2% market adjustment.
Classified
Teacher
 2% pay for performance increase
 Address position discrepancies identified
as below defined market
 Meet competitive market with scale
 Maintain anchor point on scale at 0, 10, 20
and 30 years of experience
 Meet requirements for one-time state
funding
Teacher Salary Market Comparison 2012-2013
$90,000
$85,000
$80,000
Annual Salary
$75,000
$70,000
$65,000
$60,000
$55,000
$50,000
$45,000
$40,000
0 Years
Top Quartile Range Breadth
Albemarle
5 Years
10 Years
15 Years
20 Years
Experience
25 Years
30 Years
Maximum
Compensation: Teacher Increases
Percent Increase at Anchor Points
(Inclusive of Step)
5.00%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
4.33%
2.57%
1.30%
New Teacher
10 Years
1.30%
20 Years
30 Years
Health Benefits Summary
Each full-time participating
2012-13 2013-14
employee will receive:
Health Insurance
$6,745 $7,217
Contribution
Dental Insurance
$301
$322
Contribution
County Portion of Health Costs over Six Years
$7,800
$7,609
$7,600
$7,609
$7,400
$7,217
$7,200
$7,045
$7,000
$6,800
$6,600
$6,400
$6,200
$6,000
$6,645
$6,745
VRS Rates Over Time
17.77% 17.77%
16.46%
14.89%
15.47%
12.21%
5%
Employee
Share
12.77% 12.77%
9.53%
Changes in
Budgeting Practices
• Lapse Account
• Realigning Budgets
Compensation Lapse Cycles
Budget to Budget
Savings
Current
Staff
Within Budget Year
Savings
Due
Change in
Experience
Levels
Savings
Due to
Time
New Staff
Retirements
Resignations
Terminations
Current
Staff
Retirements
Resignations
Terminations
Time
Between
Hires
Balancing Risk and Expectations Through Lapse
Risk
Lapse
Expectations
Balancing Risk and Expectations Through Lapse
Fiscal Year
Percent Savings in Salaries and
Benefits
2010-2011
1.13%
2011-2012
2.30%
Proposed Lapse Increase
2013-2014 ($1.5M Increase)
1.16%
Realigning Budgets
Budgeting Focus:
Reduce the variance between actual and
budgeted amounts where it made sense.
Outcome:
The number of departments and schools that
had a variance of greater than 20% was reduced
by 60%
Realigning Budgets
Fund
Actual 12
Adopted 13
Variance
Sups 14
Variance
W. Albemarle
569,607
407,439
-28.47%
569,914
0.05%
Federal Pgms.
925,507
1,654,534
78.77%
995,410
7.55%
• Accomplished by:
• Transferring Money from Departments into Schools
• Budgeting Anticipated Carryover to Schools
• Budgeted Anticipated Donations
Questions