B U D G E T P R E S E N TAT I O N FISCAL YEAR 2013-2014 2014 BUDGET AGENDA Discussion Topics: • Budget Calendar • Key Basic Assumptions • Types of Funds • Budgeted Expenditures by Fund by Object • 2013 Actual Revenues and Expenditures (Unaudited) • 2014 Budgeted Revenues and Expenditures • 2014 Budget by Object • 2014 Budgeted Fund Balances • EAV Data used for General State Aid • CPI DATA BUDGET CALENDAR : February – Budget Planning March – Budget Request Submitted to Principals and Program Administrator April - Budget Request Received by Principals and Program Administrator Business Office Assembles Budget Request and gathers projected fix costs. Board Approves staffing and facility improvements May - Prepare Preliminary Budget for review June- Prepare Tentative Budget Board reviews the Tentative Budget Board approves encumbrance and expenditure authorization August- Budget Presentation (We are here) Tentative budget on ISBE Form on public display September Board holds public hearing on 2013-2014 budget Board approves the 2013-2014 budget KEY BUDGET ASSUMPTIONS: Key Budget Assumptions: Revenue: • Consumer Price Index (CPI ) is projected to be 2% flat. • (Used to Calculate the Tax Levy - November 2014) • EAV is projected to decline slightly. • Student fees are expected to remain flat each year. • General State Aid is budgeted as appropriated by the state is expected to increase 14% over FY 2013 scheduled payments. • Federal Funds are budgeted as appropriated by the state and denoted in the school grant applications for FY 2014 are expected to remain constant. • Real Estate -New Property Growth is expected to be $524,293 KEY BUDGET ASSUMPTIONS: Expenditures: Personnel (63.8% of the District’s Budget): • Teacher Full Time Equivalent (FTE) are expected to remain at 105.5 • Student / Teacher and District Staff Ratio are expected to be 13.21 • No material changes in Teacher FTE • No material changes in Administrative FTE Salaries and Benefits: • Staff Salaries are expected to increase by 3.56% • Teachers are projected to change lane at an average cost of $44,689. • 2-3 Paraprofessionals have been budgeted if necessary to adjust for increase enrollment and class size requirements. • Anticipated early retirement cost are expected to be $42,000 • Health Insurance Cost are expected to increase by 16% (Reduced by 9%) • No change in cost for Dental Insurance Cost. • No material changes in FICA, Medicare, IMRF or TRS rates. KEY BUDGET ASSUMPTIONS: Purchased Services (10.6% of the District’s Budget): • Building Grounds and Repair work are expected to cost $200,000 in the following areas: • Parking Lot Pavement • Roof Repair Work (JFK Elementary School) • Building Maintenance Work (Lincoln Middle School) • Life Safety Work (JFK and Lincoln Middle School) • Landscaping Work • Other Purchases Services: • Anticipated Supplemental Educational Services (SES) are expected to cost $61,000 . • Workers’ Compensation Insurance are expected to decrease by 6% over FY 2013. • Property / Casualty Insurance are expected to decrease by 1.3% over FY 2013. KEY BUDGET ASSUMPTIONS: Capital Outlay (1.9% of the District’s Budget): • Security Cameras and GPS system are expected to cost $13,000 • Note: Subsequent Final Adjustment to the budget will be updated to reflect the recent RFP estimates of $18,000. • No other material changes Debt Services (13.3% of the District’s Budget): • Bond Schedule for Principal and Interest on combined debt for FY2014 is expected to be: Principal - $1,439,075.90 Interest $1,167,470.35 DISTRICT FUNDS Fund Description 10 Education 20 Operations and Maintenance 30 Debt Services 40 Transportation 50 Municipal Retirement/SS 60 Capital Projects *Restricted Funds 70 Working Cash **Unrestricted Funds 90 Fire Prevention and Safety 2014 BUDGET COMPARISON BY FUND BY OBJECT (ED FUND) 2014 BUDGET COMPARISON BY FUND BY OBJECT (O & M) 2014 BUDGET COMPARISON BY FUND BY OBJECT (DEBT SERVICES) 2014 BUDGET COMPARISON BY FUND BY OBJECT (TRANSPORTATION) 2014 BUDGET COMPARISON BY FUND BY OBJECT (IMRF) 2014 BUDGET COMPARISON BY FUND BY OBJECT (CAPITAL PROJECTS) ACTUAL REVENUES, EXPENDITURES AND FUND BALANCE BY FUND(2013) Unaudited Fund Reserve Summary Schedule Actual Revenue and Expenditures 2013 Fiscal Year 2013 (as of 6/30/13) Fund Reserves July 1, 2012 (+) Revenues Received 4,951,904 14,024,573 12,828,173 6,148,304 Operations and Maintenance 738,523 1,469,536 1,210,487 997,573 Debt Service 236,309 2,494,601 2,607,390 123,521 Transportation 367,547 1,111,035 780,941 697,641 Municipal Retirement/SS 160,855 643,912 510,472 294,295 33,368 173,071 161,410 45,029 2,208,363 81,063 - 2,289,426 44,122 51 - 44,172 8,740,991 19,997,841 Education Capital Projects Working Cash Fire Prevention and Safety TOTALS (-) (=) Expenditures Fund Reserves Disbursed June 30, 2013 18,098,872 10,639,960 Amount of increase/decrease in fund reserves over Fiscal Year 2012 1,898,969 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 - (+) Revenues Received (-) Expenditures Disbursed BUDGETED REVENUES, EXPENDITURES AND FUND BALANCE BY FUND (2014) ule Unaudited Fund Reserve Summary Schedule 0/13) Fiscal Year 2014 (+) (-) Revenues Expenditure Received s Disbursed (=) Fund Reserves June 30, 2014 $16,000,000 6,148,304 14,414,889 14,020,379 6,542,814 $14,000,000 Fund Reserves July 1, 2013 Education Budgeted Revenue and Expenditures 2014 $12,000,000 Operations and Maintenance 997,573 1,414,114 1,541,594 870,093 Debt Service 123,521 2,736,874 2,606,546 253,848 Transportation 697,641 963,666 888,300 773,007 Municipal Retirement/SS 294,295 632,999 554,400 372,894 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 Capital Projects Working Cash Fire Prevention and Safety TOTALS 45,029 2,289,426 44,172 - - 45,029 66,180 - 2,355,606 - - 44,172 10,639,960 20,228,721 19,611,219 Amount of increase/decrease in fund reserves over Fiscal Year 2013 $0 11,257,462 617,502 (+) Revenues Received (-) Expenditures Disbursed REVENUE BUDGET BY PROGRAM (2014) Budgetary Revenue Ad Valorem taxes levied Revenue for other units (CPPRT) Tuition Transportation Fees Earnings on investments Food service Pupil activities Registration Other local revenue EXPENDITURE BUDGET BY OBJECT (2014) Budgetary Expenditures Salaries Benefits Purchased Services Supplies and Materials Capital Outlay Other Objects/Tuition Non-Capitalized Equipment Debt Services Fund 3 IMRF/SS - Fund 5 Capital Projects Fund 6 FUND BALANCE CHART AND CHANGE (2014) Fund Balance 2013 $10,639,960 Fund Balance 2014 $11,257,462 TAX REVENUE BASE EAV Value (millions) / Tax Year $600,000,000.00 $500,000,000.00 EAV $400,000,000.00 $300,000,000.00 $200,000,000.00 $100,000,000.00 $0.00 TAX YEAR EAV 1 2 3 4 5 6 7 8 9 10 11 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 347,926,4 383,571,3 422,225,5 465,855,8 491,157,3 474,951,8 411,186,5 413,817,0 392,449,0 342,254,7 353,441,3 Real Estate Tax Year 2012 % $ Air Pollution 345,776,167.00 $ 99.38% - Railroad Total Equalized Valuation $ 2,150,274.00 $ 0.62% 347,926,441.00 100.00% CONSUMER PRICE INDEX (USE IN CALCULATING THE TAX LEVY) The 11 year average CPI rate is 2.4% NOTE: District 81 used a CPI rate of 2.0% in estimating tax rate for tax levy. REFERENCES ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt a resourceful site on historical CPI rates. http://www.cookcountyclerk.com/tsd/taxagencyreports/Pages/default.aspx a resourceful site on obtaining historical and current EAV, Tax Rates, Tax Levy, New Property Growth, and Tax Extensions. Agency Code 04-0400-000 http://www.isbe.net/sfms/afr/ctl.htm a resourceful site on gather ISBE Tax Levy Form 50-02 Debt Services- Cook County, Illinois Bond Schedule (Schiller Park SD 81) https://sec1.isbe.net/iwas/asp/login.asp?js=true, a resourceful site on obtaining Federal Grant Applications and appropriations http://webprod1.isbe.net/gsainquiry/default.aspx, a resourceful site on obtaining the appropriations for General State Aid Payment for school year 2014. Repair cost – Reviewed Life Safety Cost and obtained Vendor Estimates Insurance cost – Contract renewals for 2013-2014 Board approved Salary Rates for 2014 School Building Budgets Sheets for 2014 Step and Lane Change Cost Analysis Work sheet (2014)– Digital Schools THANK YOU FOR YOUR PARTICIPATION! QUESTIONS?