Adopted Budget 2019-2020 Independent S chool District 882 - - PowerPoint PPT Presentation
Adopted Budget 2019-2020 Independent S chool District 882 Monticello Public S chools June 3, 2019 IS D 882 Monticello 2019-2020 Budget Overview Required to have an approved budget prior to July 1 st each year Financial plan used to
General Fund Community Service Food Service OPEB Trust Special Ed Coop Debt Service Hockey Building Construction Internal Service
Property Tax Revenue $8,558,130 18.29% State Revenue $35,565,506 76.02% Federal Revenue $508,228 1.09% Other $2,149,778 4.60%
Revenue
*Excluding Special Ed Cooperative
Salaries $25,797,278 56.19% Employee Benefits $11,073,654 24.12% Purchased Services $5,663,735 12.34% Supplies & Materials $2,211,569 4.82% Capital Outlay $908,584 1.98% Other $253,245 0.55%
Expenditures
*Excluding Special Ed Cooperative
Estimated Fund Balance @ 6/ 30/ 19 $4,008,911 Revenue $46,781,642 Expenditures ($45,908,065) $873,577 Estimated Fund Balance @ 6/ 30/ 20 $4,882,488 *Unassigned Fund Balance proj ected to be around 4.77% . Fund Balance totals includes all fund balance categories.
*Excluding Special Ed Cooperative
by the Minnesota Department of Education
Restricted Fund Balance Projection 6/ 30/ 17 6/ 30/ 18 Proj ected 6/ 30/ 19 Proj ected 6/ 30/ 20 Teacher Evaluation $2,360 $0 $0 $0 Health & S afety $303,185 $64,732 $64,257 $0 Operating Capital $268,497 $296,141 $217,831 $188,159 LT Facility Maint $194,742 $342,297 $836,238 $1,342,784 3rd Party Billing $166,961 $152,507 $52,491 $56,424 Total Restricted $935,715 $855,677 $1,170,817 $1,587,366
chool Board, by maj ority vote, may assign fund balances for specific purposes on amounts over $25,000
specific purpose and subsequently to remove or change the balance
Committed & Assigned Fund Balance Projection 6/ 30/ 17 6/ 30/ 18 Proj ected 6/ 30/ 19 Proj ected 6/ 30/ 20 Carryover $90,900 $103,900 $50,000 $50,000 S coreboard $133,382 $86,720 $88,050 $90,313 S everance $1,417,837 $1,222,367 $1,095,367 $965,367 Total Committed & Assigned $1,642,119 $1,412,987 $1,233,417 $1,105,680
chool District will strive to maintain a minimum unassigned fund balance of 8-16% (1-2 months)
Unassigned Fund Balance Projection 6/ 30/ 17 6/ 30/ 18 Proj ected 6/ 30/ 19 Proj ected 6/ 30/ 20 Unassigned Fund Balance $2,786,926 $2,158,390 $1,604,677 $2,189,441 Expenditures $44,061,040 $46,392,404 $45,457,491 $45,908,065 %
6.33% 4.65% 3.53% 4.77%
Other $9,069,332 79.99% Federal Revenue $2,268,371 20.01%
Revenue
*Closes to the General Fund
Salaries $7,587,618 66.92% Employee Benefits $3,649,749 32.19% Purchased Services $33,388 0.29% Supplies & Materials $28,780 0.25% Capital $6,618 0.06% Other $31,550 0.28%
Expenditures
*Closes to the General Fund
Estimated Fund Balance @ 6/ 30/ 19 $0 Revenue $11,337,703 Expenditures ($11,337,703) $0 Estimated Fund Balance @ 6/ 30/ 20 $0
*Closes to the General Fund
Estimated Fund Balance @ 6/ 30/ 19 $159,195 Revenue $2,042,179 Expenditures ($2,080,200) ($38,021) Estimated Fund Balance @ 6/ 30/ 20 $121,174
State Revenue $149,523 7.32% Federal Revenue $779,911 38.19% Other $1,112,745 54.49%
Revenue
Salaries $622,319 29.92% Employee Benefits $272,147 13.08% Purchased Services $320,040 15.39% Supplies & Materials $839,108 40.34% Capital & Other $26,586 1.28%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $606,590 Revenue $3,910,109 Expenditures ($3,905,551) $4,558 Estimated Fund Balance @ 6/ 30/ 20 $611,148
Property Tax Revenue $289,520 7.40% State Revenue $1,371,789 35.08% Federal Revenue $56,000 1.43% Other $2,192,800 56.08%
Revenue
Salaries $2,028,837 51.95% Employee Benefits $631,074 16.16% Purchased Services $1,020,340 26.13% Supplies & Materials $169,350 4.34% Capital & Other $55,950 1.43%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $18,009 Revenue $412,853 Expenditures ($412,853) $0 Estimated Fund Balance @ 6/ 30/ 20 $18,009
Other $412,853 100.0%
Revenue
Salaries $138,767 33.61% Employee Benefits $35,853 8.68% Purchased Services $202,358 49.01% Supplies & Materials $26,175 6.34% Capital & Other $9,700 2.35%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $6,766,823 Revenue $35,000 Expenditures ($4,172,374) ($4,137,374) Estimated Fund Balance @ 6/ 30/ 20 $2,629,449
Interest Revenue $35,000 100.00%
Revenue
Bond Referendum $546,175 13.09% PWE HVAC $2,086,665 50.01% Long-Term Facility Maint $1,539,534 36.90%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $700,136 Revenue $3,752,053 Expenditures ($3,688,078) $63,975 Estimated Fund Balance @ 6/ 30/ 20 $764,111
Property Tax Revenue $3,535,881 94.24% State Revenue $206,172 5.49% Interest Revenue $10,000 0.27%
Revenue
Principal Payments $2,215,000 60.06% Interest Payment $1,467,078 39.78% Other $6,000 0.16%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $162,242 Revenue $561,078 Expenditures ($509,461) $51,617 Estimated Fund Balance @ 6/ 30/ 20 $213,859
Dental Premiums $561,078 100.00%
Revenue
Dental Claims $468,780 92.01% Admin Fees $40,681 7.99%
Expenditures
Estimated Fund Balance @ 6/ 30/ 19 $1,745,122 Revenue $1,327,374 Expenditures ($1,409,477) ($82,103) Estimated Fund Balance @ 6/ 30/ 20 $1,663,019
Interest Revenue $20,000 1.51% Contributions to OPEB $1,307,374 98.49%
Revenue
Retiree Insurance $1,409,477 100.00%
Expenditures