DUQUESNE CITY SD 2020-2021 Preliminary Budget Presented May 12, - PowerPoint PPT Presentation

DUQUESNE CITY SD 2020-2021 Preliminary Budget Presented May 12, 2020

Budget Summary Revenues $ 18,862,679 -0.3% YoY Expenditures 21,357,956 +4.3% YoY Deficit $ (2,495,278)

Revenue Highlights

Statewide Revenue History

Duquesne Revenue History *Highest local revenue *

Revenue Highlights – COVID impact • Reduction in Local $200,000 - $250,000 • EIT • Delinquent collections • No increase in State funding; in fact, cuts are likely • $3.5 – 3.7 billion revenue shortfall projected • Increase in Federal support • Coronavirus Aid, Relief, and Economic Security Act (CARES) • Awaiting additional clarity on allowable uses

Expenditure Highlights • Tuition paid to WM/EA, Charter Schools, Intermediate Units, and other public school districts is now >$9.5mm • 65% of total instructional expenses (same % YoY) • 45% of total budget (+2% YoY) • Second year of debt service balloon payments • 8% of total budget • Third and final balloon payment in 21-22 SY • PSERS and Healthcare costs continue to rise

Expenditure Highlights • Charter school cost increases are partially mitigated by bringing some students back to Duquesne • Charter enrollment is similar to previous years • March 2017: 207 • March 2018: 212 • March 2019: 210 • March 2020: 201 • Charter enrollment as a % of K-6 building enrollment is improving • March 2017: (207 vs. 335) – 0.62:1 • March 2018: (212 vs. 373) – 0.57:1 • March 2019: (210 vs. 390) – 0.54:1 • March 2020: (201 vs. 417) – 0.48:1

Expenditure Highlights • Debt service future outlook Fiscal Year Debt Service 2018-19 883,639 2019-20 1,610,764 2020-21 1,608,776 2021-22 1,610,651 2022-23 742,726 2023-24 77,726 2024-25 77,726 2025-26 77,726

Expenditure Highlights • Comparative costs vs. peer districts (Allegheny Valley, Clairton, Cornell, Riverview, and Wilkinsburg)

Fund Balance Fund Balance as of June 30, 2019 $ 4,436,139 Projected Net Change In Fund Balance 2019-2020 (1,924,325) Projected General Fund Balance as of June 30, 2020 2,511,814 Total Estimated Revenues 2020-2021 18,862,679 Total Estimated Expenditures 2020-2021 21,357,956 Projected Net Change In Fund Balance 2020-2021 (2,495,278) Projected General Fund Balance as of June 30, 2020 2,511,814 Projected Net Change In Fund Balance 2020-2021 (2,495,278) Projected General Fund Balance as of June 30, 2021 $ 16,536

DUQUESNE CITY SD 2020-2021 Preliminary Budget Presented May 12, 2020