Financial Projections Board of Education February 26, 2018 Mrs. Luann Kolstad Chief School Business Official
Assumptions - Revenue State and Federal 1 2 CPI ● All else Funding Actual 2016: 2.1% State EBF: $3.7M ● ● Impacts 2016-17 Federal ○ ● & 2017-18 Rev. Idea: $1.1M ○ Actual 2017: 2.1% ● Title I: $250K ○ Impacts 2017-18 Title II: $60K ○ ○ & 2018-19 Rev. Medicaid: $250K ○ Future Years: 1.5% Trans. : $850K ● ○ Fed Milk: $25K ○
Assumptions - Expenditures Salaries Adjusted Additional Staffing Additional Staffing 1 2 3 3 Based on CBAs - Enrollment - Other Requests Cohort Survival ● Student learning ● Per Labor ● projections support /other Contracts by year Classroom ● staff teachers Specials areas ●
Assumptions - Expenditures Salaries - 4 O&M & Capital 5 3 6 Debt Certificates Retirement Projects Incentive Retirements/PREA O&M Continuing ● ● $800K/year ● 2017-18: 10 $500K/year ○ 2018-19: 5 ○ $2M from WC to ● Capital Projects
Conservative Approach ● Pension cost shift: 0.5% first year of certified salaries and increasing 0.5% annually. ● This is built into our projections.
Summary of Financial Projections
Operating Fund Balance compared to 120 Days
Conservative Approach: Other Unknowns? ● Possible property tax freeze? ○ Which budget year and how much? ● Changes in federal and/or state funding?
What Questions Do You Have?
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